1) The script takes current INDIA VIX as input Daily time frame for NIFTY
2) Used a Formula VIX Value / Square root of Time Period
3) Change Timeframe input accordingly 1 Year = 1, Monthly = 12, Weekly = 52, Daily = 365
4) based point 2 formula with 1 standard deviation it creates upper & lower range bands
5) This is generally used for option selling by big traders they go and sell above the band strikes
Release Notes: Update with 1 day Precession
Open-source script

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.

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Can this be used during intraday? If yes then what should be settings? I usually trade in BNF
SharemarketRaja theshutterknot
@theshutterknot, In Settings Enter input T as 365 - Note do paper trading if u feel is accurate and consistent then only trade
SharemarketRaja SharemarketRaja
@SharemarketRaja, * Not T = 365 Enter Period = 365
Recommended Settings

For NIFTY use 52 Week
For BANKNIFTY use 12 Months
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