1) Considered all banknifty index stocks according to NSE
2) Multiplied each stock by its Weightage given in NSE Site every month End - means giving importance to by its weightage
3) Green Candle - Considered as +Ve , Red Candle - Considered as -Ve
4) Diff of +Ve & -Ve give clear picture market will go up or down'
5) When ever +Ve and green candle Buy signal is shown and vice versa
6) 14 works as
Note:- This Indicator work only for 15 Min time frame
Gives better results used near Supp/Resistance
Combine with BANKNIFTY / NIFTY give confidence on the move
Near Support, Turned -Ve to +Ve, Adv /Dec of Nifty >30/35 or BNF Adv /Dec > 7
or combine any candle patterns( ) at Sup/Res or combine with Chart Pattern(Triangle/ )
Can take 75 Pts as SL and target 150-200 Pts
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.