VWAP 8EMA Crossover Scalping IndicatorWhy?
Everybody, especially in Indian context, from 9:15 AM to 3:30 PM, wants to trade in BankNifty.
And even 15m is Too Big timeframe for The Great Indian Options buyers. Everyone knows how potentially BankNifty (& FinNifty on Tuesday and Sensex on Friday) can show dance within 15m.
So there always been an overarching longing among traders to have something in shorter timeframes. And this 5m timeframe, looks like a universally (sic) accepted Standard Timeframe for Indian Options traders.
So here is this.
What?
The time we are publishing this public indicator Indian market (Nifty) is in ATH at ~22200.
In any such super trending market it's always good to wait for a dip and then in suitable time, enter the trade in the direction of the larger trend. The reversal trading systems, in such a situation, proves to be ineffective.
Of course there are time when market is sideways and keeps on oscillating between +/2 standard deviation of the 20 SMA. In such a situation the reversal play works perfectly. But not so in such a trending market.
So the question comes up - after a dip what's the right point to enter.
Hence comes the importance of such a crossover based trading system.
In this indicator, it's a well-known technique (nothing originally from ours, it's taken from social media, exact one we forgot) to find out the 8EMA and VWAP crossover.
So we learned from social media, practice in our daily trading a bit, actuate it and now publishing it.
A few salient points
It does not make sense to jump into the trade just on the crossover (or crossunder).
So we added some more sugar to it, e.g. we check the color the candle. Also the next candle if crosses and closes above (or below) the breakout candle's high/low.
The polarity (color) of both the alert (breakout/breakdown) and confirmation candle to be same (green for crossover, red from crossunder).
Of course, it does provider BUY and SELL alerts separately.
These all we have found out doing backtesting and forward testing with 1/2 lots and saw this sort of approaches works.
Hence all of these are added to this script.
Nomenclature
Here green line is the 8EMA and the red line is the VWAP.
Also there is a black dotted line. That's 50 EMA. It's to show you the trend.
The recent trade is shown in the top right of the chart as green (for buy) or red (for sell) with SL and 1:1 target.
How to trade using this system?
This is roughly we have found the best possible use of this indicator.
Lets explain with a bullish BUY positive crossover (means 8EMA is crossing over the daily VWAP)
Keep timeframe as 5m
Check the direction/slope of the black dotted line (50 EMA). If it's upwards, only take bullish positions.
Open the chart which has the VWAP. (e.g. FinNifty spot or MidcapNifty spot does not have vwap). So in those cases Future is the way to go.
Wait for a breakout crossover and let the indicator gives a green, triangular UP arrow.
Draw a horizontal line to the close of that candle for next few (say 6 candles i.e. 30m) candles.
Wait for the price first to retest the 8EMA or even better the VWAP (or near to the 8EMA, VWAP)
Let the price moves and closes above the horizontal line drawn in the 4th step.
Take a bullish trade, keeping VWAP as the SL and 1:1 as the target.
Additionally, Options buyer can consult ADX also to see if the ADX is more than 25 and moving up for the bullish trade. (This has to be added seperately in the chart, it's not a part of the indicator).
Mention
The concept we have taken from some social media. Forget exactly where we heard this first time. We just coded it with some additional steps.
Statutory Disclaimer
There is no silver bullet / holy grail in trading. Nothing works 100% time. One has to be careful about the loss (s)he can bear in case of the trade goes against.
We, as the author of this script, is not responsible for any trading or position decision one is taken based on the outcome of this.
It is our sole discretion to change, add, delete the portion or withdraw the whole script without any prior notice or intimation.
In Indian Context: We are not SEBI registered.
Bankniftytrading
VOLATILITY BANDS BY ISHUThis is the simple trading system based on volatility where these bands are used as entry points and trailing stops . A brief explanation of the system is as below.
Because the volatility of a stock is its standard deviation, we can statistically establish “confidence Intervals” of the price moves. In statistics, a one standard deviation range means that there is a 68-
percent likelihood the stock price will stay within the range (a 67-percent confidence interval). The confidence value for different standard deviations are
1.00 - 68%
1.28 - 80%
1.50 - 88%
2.00 - 95%
So, we draw bands at various standard deviation levels like 0.25, 0.5, 1, 1.28, 1.65 and 2 from the previous day’s close. Entry is made once the price cross above a Band and the same band because the stop loss. When the price crosses above the next band the stop loss is shifted to this band value. This point can be also a “ADD ON” point. In the same way trading can be done on the down side as well.
The current formula uses the VIX values of the previous day which is available from NSE web site. The High Value of the VIX is used for the higher Bands and the Low value of the VIX is use for the lower Bands. This is Intraday Trading system only. The system is ideally suited for the Index as it is based on the VIX.
This system belongs solely to @karthikmarar , all credits goes to Mr.karthik , i am feeling very grateful blessed and privileged at same time as i came across his huge sea of knowledge. Please give a visit on his page, follow him and show your support !🙏🏻
FRAMA & CPMA Strategy [CSM]The script is an advanced technical analysis tool specifically designed for trading in financial markets, with a particular focus on the BankNifty market. It utilizes two powerful indicators: the Fractal Adaptive Moving Average (FRAMA) and the CPMA (Conceptive Price Moving Average), which is similar to the well-known Chande Momentum Oscillator (CMO) with Center of Gravity (COG) bands.
The FRAMA is a dynamic moving average that adapts to changing market conditions, providing traders with a more precise representation of price movements. The CMO is an oscillator that measures momentum in the market, helping traders identify potential entry and exit points. The COG bands are a technical indicator used to identify potential support and resistance levels in the market.
Custom functions are included in the script to calculate the FRAMA and CSM_CPMA indicators, with the FRAMA function calculating the value of the FRAMA indicator based on user-specified parameters of length and multiplier, while the CSM_CPMA function calculates the value of the CMO with COG bands indicator based on the user-specified parameters of length and various price types.
The script also includes trailing profit and stop loss functions, which while not meeting expectations, have been backtested with a success rate of over 90%, making the script a valuable tool for traders.
Overall, the script provides traders with a comprehensive technical analysis tool for analyzing cryptocurrency markets and making informed trading decisions. Traders can improve their success rate and overall profitability by using smaller targets with trailing profit and minimizing losses. Feedback is always welcome, and the script can be improved for future use. Special thanks go to Tradingview for providing inbuilt functions that are utilized in the script.
BankNifty 5min Supertrend Based StrategyBankNifty 5min Supertrend Based Strategy, Intraday.
Work Best at 5mint chart on BankNifty.
The strategy is designed to trade using the Supertrend indicator with session-based rules, and risk management. It allows for customization through input variables and aims to provide a clear visual representation of the Supertrend by changing the color .
The script also includes input variables for the trading session and date range, which allows the trader to specify the time period in which they want the strategy to run. The session variable specifies the start and end times of the trading session, which in this case is set to the Indian trading session from 9:15 am to 3:10 pm.
The strategy starts by defining input variables such as the session time, start and end date for the backtesting, the length of the ATR, and the Supertrend factor. It also includes options for delay at session start and stop loss points and trail percentage .
The code then checks if the current time is within the specified session and date range . If it is, the Supertrend and its direction are calculated using the defined input variables. The strategy then waits for N numbers of candles (defined by the User) to form at the start of every session i.e. 09:15 AM before entering a trade.
The entry and exit conditions for long and short trades are defined based on the change in the Supertrend direction and the number of candles formed at the session start i.e. 09:15 AM . After that, it takes entry and exit for long and short trades on the change in the Supertrend direction . Stop-loss and trailing stop-loss are also defined based on the input variables.
Stop-loss (Defined by the user) is fixed points either below or above the Entry Price for Long and Short entries.
The Supertrend plot is displayed with changing colors depending on the direction. Finally, the strategy closes all trades at the end of the session if there are any open trades.
Overall, this strategy aims to trade with the Supertrend indicator using session-based rules and risk management.
However, as with any trading strategy, it is important to thoroughly test it before using it in live trading .
Banknifty BrahmāstraBanknifty Brahmastra Indicator is a Basic Simulating Indicator.
This indicator is built for capturing trend using average to plot buy / sell signal on chart.
Banknifty Brahmastra Indicator integrates visual labels to easily interpret signal for common people.
This indicator is also provide simple color code while trend continuations into candle colour along with background colour for confronts with trading decisions.
This basic indicator can use as an entry / exit reference points into complex strategies.
This Indicator can be used for any stocks and indexes but Indian traders can use this for especially into bank nifty futures & options to get maximum positive result decisions.
Banknifty Major Component TableThe table presented here is comprised of major Banknifty Index constituents showing price change in percentage terms and RSI value of three different timeframes to gauge overall Banknifty sentiment. This table is primarily created to cater scalpers and day traders. It helps traders to see market activity at a glance.
Contributing Constituents of BankniftyContributing Constituents of Banknifty
HOW Does it work ?
* Banknifty comprises of 12 Banks and each bank have its weightage, these weightage is updated every month by The Exchange.
* The Index Movements will be decided through these individual weightage.
* The Table is formed showing the contribution of each banks to the movement of index.
* Main concept here is that, during anytime of live market, which bank is dragging or leading the Banknifty can be detected, and trend can be followed.
# Table also contains the total points moved after opening of market.
Contributing Constituents of Banknifty comprises of following --
The 12 Banks are added with their latest weightage in index contribution.
User Inputs --
# User can update the weightage every month, through the link
www.niftyindices.com
How to learn the trend ?
# The most moving banks will show their actual contribution in index movement,
this will help following the trend of index.
# The data for the indicator will be very restricted, most of the parts in indicator wont work when the market closes.
# Pre-Opening or Post -Market data is tried to be ignored.
# Utmost Care is taken to implement the suggestions of users and also tried to keep the chart neat and clean.
Disclaimer:
# The indicator to be used for understanding / learning the markets.
# User is responsible for his / her profits / losses, that may occur during the markets.
Trade Vertex - Bank Nifty Volume IndicatorNSE:BANKNIFTY
We all know that the value of an Bank Nifty is derived from top banking sector underlying stocks.
The value of Bank Nifty is calculated from free float market capitalization.
Using the same formula, I made an indicator on the bases of weighted volume of each stock.
This indicator will help you to plot Volume on Bank Nifty.
Zeta Bank Nifty & Nifty50The Problems of Day Trading
Lot many indicators are made by thousands of traders all over the world, which give good or not so good signals.
Despite good signals, many times we end up in loss because we could not take entry or could not exit at appropriate time-point.
Sometimes even winning position also comes into loss if market takes back whatever you gained till a certain point.
Also, there are professional, office going people who can not take trades on their own during office-hours.
To solve all these problems, you need an automated strategy which could take trades, trail your stop loss up and exit when stop loss gets hit.
Strategy also lets you know how a certain formula performed over a period of time.
How this strategy works?
The strategy generates trades with 02 type of formulas:
1. It seeks price breaking away from support/resistance (up or down) which is calculated with the help of automatically detected pivot points.
2. It seeks reversal based upon RSI and Price Action.
If there are no open positions right now and a Buy/Sell signal comes, 1 lot is bought or sold.
This position is closed when either Stop Loss gets hit or when opposite signal comes.
What are other features of the strategy
1. You can set the session time when you want the strategy to take trades. For example, if you want to take trades only between 10:00 hrs and 14:00 hrs, that can be set in settings.
2. You can set up your own Stop Loss percentage, but the optimum value, as we found fit in backtesting, is set at 0.5%
3. There is a max. daily loss safeguard also which by default is set at 5%. It means if a series of losses happen during the day and your capital loss reaches this maximum loss value set by you, the strategy stops trading for that day.
4. There is an option to close all positions by End of Day. By default, this feature is disabled, but you can enable it if you don't want to carry forward your positions.
5. A label displayed at the last bar gives you cumulative profit or loss and daily profit/loss statistics.
PpSIgnal Algorithm Trade System BANKNFTY Only for trading BankNifty Fut.
Use in 15 minutes time frame.
Initial capital 1000 Use Indian Rupee , you buy the maximum of the capital since it represents little money at the beginning, you can risk less capital in percentage, for example, 10% of 1000 IR.
Commission 0.006% per contract, we use the commission of one of the best-known brokers.
You can adjust the slippage you consider.
Date of time strategy
strategy star from 05/2019, You can choose the start day and the end day of the backtesting test.
Money management
Take profit to buy 1%
Stop Lose sell 1%
Take Profit 1%
Stop Loss 1%
How it works?
The system works by looking for trends and volatility in a 15-minute time frame.
Once the system finds the trend and volatility, it opens an operation looking for a profit at the buy of 1% and loss control of 1%. For Sell operations, it will seek a 1% profit with a 1% loss control.
Enjoy it ....date expired 17 December 2020
BANKNIFTY Auto-Trading Indicator based on Market InternalsNSE:BANKNIFTY
Dear Fellow Traders,
This indicator for BankNifty INTRADAY trading is based on Market Internals - Advance/Decline Volume and TICK
These Market Internals, also known as Breadth Tools helps in identifying the overall market sentiment.
Just doing some technical analysis on Price action doesn't provide good results.
Price action along with Volume gives a meaningful insight and helps in improving the accuracy.
But simple VOLUME information is not sufficient to take a directional view on the markets. A segmentation of POSITIVE and NEGATIVE volume gives a clear picture of the symbol movement.
We can get the volume information FOR ANY STOCKS anywhere. But, VOLUME INFORMATION FOR AN INDEX ALONG WITH POSITIVE AND NEGATIVE VOLUMES are not available in normal trading platforms. And this tool provides the exact feature.
In a nutshell,
1) THIS TOOL PROVIDES BUY/SELL INDICATIONS on the BANKNIFTY based on the underlying stocks' PRICE AND VOLUME
2) THE VOLUME INFORMATION IS BIFURCATED INTO POSITIVE AND NEGATIVE VOLUME , WHICH HELPS IN DECIDING THE MARKET DIRECTION.
P.S: This is an Invite-only indicator. Inbox me for getting access.
Aditya Banknifty-2 IndicatorThis indicator is designed for Banknifty which is traded on NSE(India). It works best in 1-M and 5-M time-frame. You can always experiment with any other time-frame with various combinations of settings.
Green Line- Buy Trigger Line
Red Line- Sell Trigger Line
Period: No. bars for look-back period.
Trade Trigger Type:
1. ATR Based – Trade will be initiated based on ATR values.
For 1M time-frame: Trigger ATR Bars=7
ATR Multiplier = 3.1
For 5M time-frame: Trigger ATR Bars=7
ATR Multiplier = 0.5
2. Fixed - – Trade will be initiated based on particular fixed value.
3. % of Close - Trade will be initiated based on % of Close of script.
Take Partial Profit: Whether to book partial or not.
Partial Profit Points: It always better to book partial profit after getting into the trade. We can book 1 quantity after our partial profit target is hit by making Order Size=2 and let the remaining quantity in the trade until the reversal of trend.
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 and costs associated with trading the financial markets.
This is a premium indicator so send me a private message for access.
Use the link below to obtain access to this indicator.
Aditya Signal 1.1 BankNifty Intra-Day Trading IndicatorThis is non-repainting indicator which can be used for Index, Stocks, Commodities and Bitcoin or any other securities depending upon the various parameter setting of the indicator. This particular strategy is for intra-day Bank Nifty Index which is traded on NSE(India). The same strategy can used for Nifty, Stocks and other indices also by adjusting the inputs.
The detailed description about the indicator is as follows:
Long Period: Period for calculating Primary Signal Line (Yellow).
Long Period Input Source: Input for calculating Primary Signal Line.
Short Period: Period for smoothing the Primary Signal Line.
Short Period MA: Method for smoothing the Primary Signal Line.
No. of ATR Bars: No. of ATR bars for calculating Primary Signal Line.
ATR Multiplier: ATR multiplier for ATR calculation.
Trade Trigger: Value above or below of Primary Signal Line for Long or Short signal. The dotted lines in Green and Red color represents the same.
Bar Crossover Input Source: Current bar input for additional signal confirmation above or below Primary Signal Line.
Bars Above Signal High: No. of bars closing above Secondary Signal Line (Blue)
Bars Below Signal Low: No. of bars closing above Secondary Signal Line (Purple)
No. of bars crossover method uses certain no. of bars for closing above High or Low of the crossover of closing price and the Primary Signal Line in combination with Trade Trigger. The idea behind this design is to avoid fake signal due sudden spike in price. Also, this ensures that price consolidates above High in case of Long signal confirmation and vice-versa. By increasing no. of such bars, we can anticipate, how much time it takes for short-term and long-term trend reversal.
Depending upon the time-frame, just by observing the High and Low of previous crossover of closing price and Primary Signal Line, we will have better understanding of undercurrent of market.
By using different combination of Trade Tigger value and no. of bars above and below, we can anticipate better trend confirmation.
The various combinations of price source of Long Period Input Source and Bar Crossover Input Source, the Short Period MA method shows promising results. Kindly PM me for these optimum settings for other financial instruments.
It always better to book partial profit after getting into the trade which increases the odds. The default trade quantity is 2. We book 1 quantity after our partial profit target is reached and let the remaining quantity be in the trade until the reversal of trend. By enabling or disabling the same we can determine the profit or loss from historical trade from when the trade quantity is 1. Just remember to change the default quantity to 1 in Order Size from properties when you disable the Take Partial Profit option.
Take Partial Profit: Whether to book partial or not as explained above.
Partial Profit Points: It always better to book partial profit after trend getting into the trade. The default trade quantity is 2. We book 1 quantity after our partial profit target is hit and let the remaining quantity in the trade until the reversal of trend.
Instrument Type: We can select the which instrument for analysis. By adjusting the Take Partial Profit value by selecting Other Option, you can analyze instrument of your choice other than mentioned in the list for Partial Profit depending upon stock tick value and lot quantity or you can PM me. I have adjusted value for Crude Oil and Silver for MCX(India) future contract values.
This is a premium indicator so send me a private message for 15 days free trial.
"Use the link below to obtain access to this indicator."
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 and costs associated with trading the financial markets.
