Amiya's Nifty 50 Doji Buy Sell Indicator

Doji Candle to be identified and coloured as Yellow.

Only such Doji candle is to be coloured as yellow, that fulfils the following criteria and both conditions must be met simultaneously
1. The candle's total range (high - low) must be greater than 10 points AND less than 21.5 points.
2. The combined length of upper and lower shadows must be at least 2 times the body size. This means the body should be relatively small compared to the shadows.

The key characteristic is that the body is small relative to the total candle range, indicating indecision in the market, with the total candle size being within a specific point range (10-21.5 points) - likely designed for index trading like NIFTY or BANKNIFTY.


Long Entry alert to be given when both the below conditions are met simultaneously:
1. When LTP crosses above the high of the Doji Candle
2. RSI is > 60

Long Entry SL should be when LTP goes 2 points below the low of the Doji Candle. Draw a red dotted line at that level.
Long Entry Take Profit level should be the ( Long Entry price + Doji candle's total range (high - low) X 5). Draw a green dotted line at that level.


For Sort entry alert, to be given when both the below conditions are met simultaneously:
1. When LTP crosses below the low of the Doji Candle
2. RSI is < 40

Short Entry SL should be when LTP goes 2 points above the high of the Doji Candle. Draw a red dotted line at that level.
Long Entry Take Profit level should be the ( Short Entry price - Doji candle's total range (high - low) X 5). Draw a green dotted line at that level.

Universal Exit should be suggested at 3:25 PM.