NKP Strength Meter has 3 main components:
one trend bar - it will plot only in two colors either Green or Red. Green indicates buy strength Red indicates sell strength.
three trend dotted lines - these also will plot only in two color either Red or Green. Green indicates buy strength Red indicates sell strength.
color plotted area - if all are in the Green it will plot the green background. all are in red it will plot the red background based these we can easily identify the strength of the trend while seeing the chart.
How does it work?
If all trend bar and dotted lines are green it means buyers strength is more.(continue with uptrend)
If all trend bar and dotted lines are red it means seller strength is more.(continue with downtrend)
mixed colors on dotted line and trend bar there is strength at that time.
What are the signals?
it wont generate any signals. just it will plot the strength dotted lines and trend bar it identify the strength of the trend.
Can we set the Alert on this?
No, it will use to see the strength of the trend while taking the order.(just for trend confirmation)
IMPORTANT: this script does not generate any signals. Perfectly catches long runs in trends at all underlings (stocks, indexes ) at any time frame.
Try it! Good luck and good trading!
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