This Indicator is giving signal by taking 11 Major Indian Bank trend into consideration.
This indicator is giving two signal and .
signal can be used for long Banknifty and signal can be used to close existing Banknifty position and make new short side position and again when signal come then close existing short position and take new long position and so on.
There is zone area green zone and red zone and central line. Green zone is area and Red zone is area.
When ever green line cross over red line then signal generated and when ever green line cross under red line Signal generated.
Strong when Crossover is happening above central line and Strong when Cross under is happening below central line.
Many Thanks to LazyBear main author, I have used his wave trend function and modified that as per Banknifty index so that we can get better result.
User must keep the default setting for getting better results as results are back tested. If setting changed then result may vary.
I have added here back tested performance user can see those results. I have added commission and slippage as well.
This indicator is available on Subscription.
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Added Slippage and commission on calculation of profit.
Signal is working with 1m ,3m, 5m, 15m ,30m time frame. higher time frame results are not good.
Newly added below.
1) HMA crossover SMMA
2) SMMA 7 crossover SMMA 14
Change the algo to improve the performance.
With ATR I am finding the trend of existing time frame candles and based on that what ever trades are there that I am filtering . Improved the performance from 25% to 300% almost but if u are trading all the signals.
Access to this script is restricted to users authorized by the author and usually requires payment. You can add it to your favorites, but you will only be able to use it after requesting permission and obtaining it from its author. Contact siddmuk2005 for more information, or follow the author's instructions below.
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I shall recommend to use only 5 minute chart and trade all the signals at least 10 signals and do the paper work and see how it works for you .
Warning: please read before requesting access.