Bank Nifty Market Breadth (OsMA)This indicator is the market breadth for Bank Nifty (NSE:BANKNIFTY) index calculated on the histogram values of MACD indicator. Each row in this indicator is a representation of the histogram values of the individual stock that make up Bank Nifty. Components are listed in order of its weightage to Bank nifty index (Highest -> Lowest).
When you see Bank Nifty is on an uptrend on daily timeframe for the past 10 days, you can see what underlying stocks support that uptrend. The brighter the plot colour, the higher the momentum and vice versa. Looking at the individual rows that make up Bank Nifty, you can have an understanding if there is still enough momentum in the underlying stocks to go higher or are there many red plots showing up indicating a possible pullback or trend reversal.
The plot colours are shown as a percentage of the current histogram value taken from MACD from the highest histogram value of the previous 200 bars shown on the current timeframe. Look back value of 200 bars was chosen as it provided a better representation of the current value from its peak over the recent past(previous 200 bars), on all timeframes. Histogram value do grow/fall along with the underlying stock price, so choosing the chart's all-time high/low value as peak was not ideal. Labels on the right show the current histogram value.
Base Code taken from @fengyu05's S&P 500 Market Breadth indicator.
Bankniftyview
Bank nifty puller and Dragger Hello Guys
using the below script you can check the nifty bank puller and draggers at live
how to use it?
it's straightforward
in the table, we will see the points contribution by each bank to Bank nifty
graph shows the overall strength of the buyers and sellers
using graphs also you can trade
but If you want to use a graph please note these important points
1:when the evergreen line cut the red line from below to top (cross-over) it says that buyers are strong but sometimes cross-over may fail and fall again
2: same things happen with the red line also
3: sometimes the graph shows that's a big difference between the red line and the green line that the market opened gap up gap down ( its difficult to define ) will update soon
4:when the market consolidates red and green lines will be very near to each other
5: when the green line is upper side the buyers are strong when the red line is upside sellers are strong (but sometimes it may mislead please be careful )
using the table you can check the overall view of all important banks
according to the time frame, data will be shown
this image shows the break out at 12.45 pm
2nd image shows the consolidation face of the market
this image shows that directly after opening the market sellers became stronger
this is how you can use the indicator
you can use graph or you can use table to get the over all view of the Bank nifty
BankNifty_CSMLibrary "BankNifty_CSM"
TODO: add library description here
getLtp_N_Chang(openPrice, closePrice, highPrice, hl2Price, lowPrice, hlc3Price, bankNiftyClose)
Parameters:
openPrice (float)
closePrice (float)
highPrice (float)
hl2Price (float)
lowPrice (float)
hlc3Price (float)
bankNiftyClose (float)
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.
NSE BankNifty Spot Volume - by GrowMore IndicatorsNSE BankNifty Spot Volume - by GrowMore Indicators !!
HOW Does it work ?
Trading volume is a measure of how much of a given financial asset has traded in a period of time. For stocks, volume is measured in the number of shares traded and, for futures and options, it is based on how many contracts have changed hands. The numbers, and other indicators that use volume data, are often provided with online charts.
The Spot Volume of NSE Bank-Nifty is hard to calculate, but TradingView Pine made it easier to calculate the actual spot volume of Bank-Nifty.
As Bank-Nifty users are aware that the Bank-Nifty comprises of 12 banks and each bank has its own weightage in Bank-Nifty movement.
The Indicator has 12 inputs of banks that are in NSE Bank-Nifty and next beside there is weightage input for that particular bank,
now this weightage is modified by NSE every month so it should be changed every month. The link to it is - www1.nseindia.com
User must update the weightage given by NSE into indicator to use it flawlessly.
Disclaimer : Here the volumes are average of volume - of all Bank-Nifty banks.
User Options : Option to input security name and weightage nearby.
also have SMA of volume of user defined length.
Visual Checks - The user could manually validate the back test results on various assets they would like to use this strategy on before putting it live.
How to get access
Please click on the link / email available in the signature or send me a private message to get access.
Feedback
Please click on the link/email in the signature or send me a private message for suggestions/feedbacks.
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.
