It takes into account all the bank stocks contributing to the Bank Nifty Index of NSE(India)
This tool helps in understanding:
Bias of underlying assets ( vs , when green bars are higher in magnitude than red are, it's & vice versa)
Critical is a point which is defined as the boundary of & sides.
Critical Interpretation: The blue line helps in understanding how far is the current price is from the critical . If the blue line is below the dashed line , we expect prices not to prices to move in a stable range in next 15-30 mins
Using this tool in conjunction with Bank Nifty Algo can help in deciding the entry/exits in the Bank Nifty
For example, If we have green bars higher in magnitude than red & also a Buy signal from Bank Nifty Algo, we can go long & vice versa.
Disclaimer: This script/strategy is for educational purpose and individual use only. The author of this script/strategy will not accept any liability for loss or damage as a result of reliance on the information contained in the charts. Please be fully informed regarding the risks associated with trading the financial markets.
This is a premium indicator
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Telegram : https://t.me/banknifty_algo_trading ( Open to all - Share my Live Trades)
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