Banknifty Volume - IN — Indicator by TradingTail

options volumestudies volume bankniftyvolume volumeanalysis trendreversal relativestrength volumeindicator volumebreakout

This simple indicator computes the average Relative Strength Index of each Banknifty stock and displays the volume on the chart with color schemes while the average line indicates the average RSI of all Bank Stocks. This indicator works on Banknifty and its stocks.
It works on all time frames
How You can use this?
You can use this indicator for Volume analysis if the average RSI line is above the 0 line, the stock is moving upside and vice versa for Downside .

Release Notes:

Minor changes : RSI Period added in setting and more confirmation using EMA

Release Notes:

Set Timeframe as per your need

Release Notes:

Improvement

Release Notes:

The Trend Reversal Cloud with Customized timeframe option was added to help forecast when reversals will happen.

Release Notes:

*** Minor bug fix ***

Release Notes:

Now you can set the weightage as per your requirements from setting panel

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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.

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