BANKNIFTY and Sentiment Cycle Indicator Performance (PAID)This is the Bank Nifty Chart, and you can clearly see that today’s market moved up, but no sentiment signal was triggered. The reason for this is simple – if you look at the volume at the bottom, you’ll notice it was low. This low volume indicates a trap move, and our indicator successfully identifies such traps.
Here’s how it works:
• Green background indicates a bullish sentiment.
• Red background indicates a bearish sentiment.
• No background color (neither green nor red) means a sideways market.
In Nifty and Bank Nifty, traders often get stuck in sideways zones, which lead to losses due to a lack of momentum. This is where our indicator comes into play – helping you avoid trap trades and sideways market areas.
Also, this is an all rounder indicator and can be used in FOREX, commodities, oiltrading and crypto, you name it and use it.
Additionally, if you use this indicator on a 5-minute chart, it becomes more responsive. This is crucial in the Indian market, where we face premium decay in options trading. Unfortunately, TradingView doesn’t allow me to showcase the 5-minute chart here, so I’m sharing the 15-minute chart instead. Even on this timeframe, you can clearly see how effectively the indicator highlights the sideways market or “No Trading Zones”, helping traders avoid unnecessary trades and book smarter trades.
