INVITE-ONLY SCRIPT
Zeta Sector Scanner
Updated
People say trend is friend till it bends.
A proven strategy to get better than broader index returns is to find out what are the best performing sectors in rising market and
what are the worst performing sectors in falling market.
Then buy top stocks of Best Performing Sector (in rising market) or short sell worst performing stocks in falling market.
This strategy, known as 'top-down investment strategy' determines the overall health of the economy of a country first (by evaluating the broader index of that country first).
And then it picks up specific sectors where money is entering or exiting.
Zeta Sector Scanner tracks Nifty50, which is broader index for Indian Market and then picks up best or worst performing sector of the day and displays the info in real time on your chart.
Once you know which sector to target on a given time of the day, pick up the stocks of that sector and the probability of trade going in your favor will increase many fold.
With little modifications, this indicator can be adapted to any world market but currently it caters to Indian Market only.
A proven strategy to get better than broader index returns is to find out what are the best performing sectors in rising market and
what are the worst performing sectors in falling market.
Then buy top stocks of Best Performing Sector (in rising market) or short sell worst performing stocks in falling market.
This strategy, known as 'top-down investment strategy' determines the overall health of the economy of a country first (by evaluating the broader index of that country first).
And then it picks up specific sectors where money is entering or exiting.
Zeta Sector Scanner tracks Nifty50, which is broader index for Indian Market and then picks up best or worst performing sector of the day and displays the info in real time on your chart.
Once you know which sector to target on a given time of the day, pick up the stocks of that sector and the probability of trade going in your favor will increase many fold.
With little modifications, this indicator can be adapted to any world market but currently it caters to Indian Market only.
Release Notes
Updated code to display 10 Sectors.. Nifty & Bank Nifty indices.Release Notes
Updated Overall trend style to columns with conditional color coding. Also tweaked the settings which will now be more reflective of current trend (past 45 minutes at 5 min. time frame).
If you take trades at higher time frames and want to take past 10 days data into account, change the number of bars to 240 for 30 min. time frame by going to indicator settings.
Release Notes
Changed Plotting Style for the sectors.Release Notes
Default look back period changed to suit intraday tradersInvite-only script
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 jellygill 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.
Author's instructions
″This indicator finds market direction and best or worst performing sector on any given day.
Then you may target stocks from that sector to get better returns.
Want to use this script on a chart?
Warning: please read before requesting access.
To avail FREE TRIAL for all our invite-only indicators, please contact us:
Telegram: @jellygill
Our Telegram Channel: @CheetaTrader
join to complete FREE TRAINING on how to use the indicators effectively and then request @jellygill for FREE TRIAL
Telegram: @jellygill
Our Telegram Channel: @CheetaTrader
join to complete FREE TRAINING on how to use the indicators effectively and then request @jellygill for FREE TRIAL
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.