Based on the free float market capitalization of the underlying stocks their weightage is been decided in BankNifty .
So a Signal system is composed which takes the key Market Internal factors into Consideration rather than Just Price alone.
PARAMETERS TAKEN INTO ACCOUNT
1. Underlying Stock Weightage (Daily BankNifty Composition is taken in to account)
2. Underlying Stock is taken in to account, by formulating the relative based on their kinetic composition.
"PRICE OF BANK NIFTY IS NOT TAKEN IN TO ACCOUNT IN THIS SIGNAL SYSTEM"
Understanding the signal system
1. Don’t combine this signal system with any other indicators
2. Greater than 75% success rate for 70 Points in Banknifty .
Recommended time Frames: 30 Mins and 1 hr are highly recommended time frames.
But a risky trader can trade with 15 Mins because Market Internals support lower time frames. But trade cautiously and read the disclaimer carefully.
The signal system does not carry any recommendations and all the signals are generated mathematically using the Underlying free float market capitalized weightage logic.
This will help investors to take better decisions
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 Tradepro_MoneyFlow for more information, or follow the author's instructions below.
TradingView does not suggest paying for a script and using it unless you 100% trust its author and understand how the script works. In many cases you can find a good open-source alternative for free in our Community Scripts.
Warning: please read before requesting access.