Arun_K_Bhaskar

Market Movers: Sectoral Index

The indicator will show the Sectors which are leading or lagging NIFTY50 index based on Alpha & Beta values. Stock selection can be done based on the respective Sectors.

  • Look for alpha & beta values.
  • Prefer one with high beta.
  • Greens are leaders & Blues are lagers.
  • This don't completely indicates a trend, but it can give the overview of a major trend & market movers.
  • Gray line is the base index NIFTY50, it is Zero.
  • Turn on Indicator Name Label in Settings > Chart Settings.
  • In intraday or positions, in a leading Sector there will be a leading stock, spot it out.
  • Make a sector wise watchlist of stocks.
  • Use higher or Daily timeframe for Swing trades.
  • Detailed descriptions are available in my previous Alpha & Beta indicators.
Release Notes: Update v1.1
Added table.
Changed color scheme.
Release Notes: Update v1.2

Day Start Marker color choice.
Simplified menu.
Avoided Labels and Tables show/hide option as it is available in the Style tab.
Release Notes: Update v1.3
  • Included day % change in the table.
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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Comments

Thank you
+1 Reply
good work
+1 Reply
awesome work
+1 Reply
hello... I noticed the day start marker color selection is gone... on a dark background it was a nice feature.. I may stay with the old script... :)
Reply
@Viva4Feva, I will check and update.
Reply