This indicator is specifically designed for trading Bank Nifty (NSE) for intraday scalping Today we live in a age of Day trading (~90% trades at the exchange are intra day trades ). This requires set of much sophisticated tools & techniques to analyze the charts.
Description : This indicator is based on Price Action Theory, Volume Profiles and Moneyflow Analytics. It also incorporates important parameters of the underlying assets such as Banking stocks & key benchmark banking metrics. It shows the bias of the index at any given point of time.
USP: It reacts to changes in price & other critical parameters very fast identifying the best scalping opportunities
How to use ?
Timeframe : Time duration for each bar (Input to given to the indicator by user)
Notations used in the indicator: B- Signal for Buy S- Signal for Sell CS- Close Shorts CL- Close Longs BookLong- Book all Longs BookShort- Book all Shorts
Critical Pivot: This is the thick line which changes color green to maroon to grey. It gives an idea of bias in the market. Green color is for Bullish bias, Maroon for Bearish bias & Grey for Neutral
Swing High: The dynamic green line at the end of the charts Swing Low : The dynamic red line at the end of the charts
Major uses of the Indicator: 1. Understanding the direction of Bank Nifty and understands levels for entry / exits --- B & S signals 2. Understanding SL levels in order to prevent loss during unforeseen events ------------- Break of the critical pivot( green/maroon line ) 3. Understanding Trailing SL levels to hold on to the winners --------------------------------- Break of the Green/Red Line
Ideal Timeframes for this Indicator : 1.Scalping ( 3 min / 5 min/15 mins )
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 If you want access to this indicator, please message me (Links/Email in description below )