OPEN-SOURCE SCRIPT
KATIK BankNifty Upside/Downside Levels
The KATIK BankNifty Upside/Downside Levels (BNUDL) indicator plots key daily reference levels for BankNifty based on its opening price. Using a predefined daily move percentage, it calculates potential upside and downside levels from the open. The script displays:
Up Level (Green): Potential bullish threshold above the open
Down Level (Red): Potential bearish threshold below the open
Open Price (Blue Circles): Daily BankNifty opening level
This tool helps traders quickly identify intraday directional bias and potential support/resistance zones around the opening price.
Up Level (Green): Potential bullish threshold above the open
Down Level (Red): Potential bearish threshold below the open
Open Price (Blue Circles): Daily BankNifty opening level
This tool helps traders quickly identify intraday directional bias and potential support/resistance zones around the opening price.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.