AI-Bank-Nifty Tech AnalysisThis code is a TradingView indicator that analyzes the Bank Nifty index of the Indian stock market. It uses various inputs to customize the indicator's appearance and analysis, such as enabling analysis based on the chart's timeframe, detecting bullish and bearish engulfing candles, and setting the table position and style.
The code imports an external script called BankNifty_CSM, which likely contains functions that calculate technical indicators such as the RSI, MACD, VWAP, and more. The code then defines several table cell colors and other styling parameters.
Next, the code defines a table to display the technical analysis of eight bank stocks in the Bank Nifty index. It then defines a function called get_BankComponent_Details that takes a stock symbol as input, requests the stock's OHLCV data, and calculates several technical indicators using the imported CSM_BankNifty functions.
The code also defines two functions called get_EngulfingBullish_Detection and get_EngulfingBearish_Detection to detect bullish and bearish engulfing candles.
Finally, the code calculates the technical analysis for each bank stock using the get_BankComponent_Details function and displays the results in the table. If the engulfing input is enabled, the code also checks for bullish and bearish engulfing candles and displays buy/sell signals accordingly.
The FRAMA stands for "Fractal Adaptive Moving Average," which is a type of moving average that adjusts its smoothing factor based on the fractal dimension of the price data. The fractal dimension reflects self-similarity at different scales. The FRAMA uses this property to adapt to the scale of price movements, capturing short-term and long-term trends while minimizing lag. The FRAMA was developed by John F. Ehlers and is commonly used by traders and analysts in technical analysis to identify trends and generate buy and sell signals. I tried to create this indicator in Pine.
In this context, "RS" stands for "Relative Strength," which is a technical indicator that compares the performance of a particular stock or market sector against a benchmark index.
The "Alligator" is a technical analysis tool that consists of three smoothed moving averages. Introduced by Bill Williams in his book "Trading Chaos," the three lines are called the Jaw, Teeth, and Lips of the Alligator. The Alligator indicator helps traders identify the trend direction and its strength, as well as potential entry and exit points. When the three lines are intertwined or close to each other, it indicates a range-bound market, while a divergence between them indicates a trending market. The position of the price in relation to the Alligator lines can also provide signals, such as a buy signal when the price crosses above the Alligator lines and a sell signal when the price crosses below them.
In addition to these, we have several other commonly used technical indicators, such as MACD, RSI, MFI (Money Flow Index), VWAP, EMA, and Supertrend. I used all the built-in functions for these indicators from TradingView. Thanks to the developer of this TradingView Indicator.
I also created a BankNifty Components Table and checked it on the dashboard.
Bankniftyoptions
Bank Nifty strike price 2/3σ Calculates the strike prices for the Bank Nifty index in steps of 50 and marks the 2 and 3 sigma price levels.
Banknifty & Nifty50 ScalperWhy this indicator?
There are full time traders who watch their screens during live market and make good amount of money by actively managing their positions.
There are full time employees also who want to trade but can not do so because they can not monitor their active positions while they are at job.
This indicator helps you execute your trades through third party platforms by generating Buy/Sell messages in a broker-compliant format.
You just need to "Enter Your API Key” in indicator settings and the indicator will generate pop-up messages which can be captured with Google Chrome extension and passed on to your third party platform for execution.
How this indicator works?
The indicator generates trades with 03 type of formulas:
1. It calculates Zeta Force values for Bank Nifty & Nifty based upon our proprietary formula. On reaching certain threshold limits, these values trigger Buy/Sell signals.
2. It calculates 5 type of moving averages along with change in volume and deviation from mean price and when the threshold limit set is crossed, Buy/Sell signals are generated.
3. On 1 min. Time frame, it generates scalping trades when there is sudden spurt in price and volume.
Additionally, indicator also generates automatic Support/Resistance lines based upon pivot points + behaviour of price at certain levels (whether price repeatedly bounces off or sails through a certain area).
What are other features of the indicator
A label displayed at the last bar gives you following information:
(a) Value of India VIX
(b) jump in India VIX (compared to yesterday’s close)
(c) Zeta Fore value (current candle)
(d) V+ and V- which stand for number of bank nifty stocks trading above or below their respective VWAP
(e) Zeta TP, an oscillator whose value varies from -100 to +100
On what stocks or Indices it can be used?
As described above, it specifically tracks volume and price of Bank Nifty & Nifty50 (Indian indices). Hence, it is suitable for both these indices and should not be used on anything else.
Also, when this indicator formulae were back-tested using a strategy, 5 min and 15 min time frames produced best-results.
Support/Resistance lines and over-sold, over-bought indication can be used together to exit your open positions.
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.
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.
Zeta ForceBank Nifty is an Index which comprises of 12 Banking Stocks.
Zeta Force indicator tracks underlying stocks’ Price & Volume simultaneously to detect sudden momentum in this index.
Based upon its calculations, Zeta Force indicator calculates V+, V-, Zeta Force & Zeta TP variables and generates Buy/Sell signals when major changes are detected in these variables.
Since price is a major factor in Zeta Force calculations and price keeps fluctuating during candle formation, traders need to wait a little to see if the Buy/Sell signal sustains or not.
Once the candle gets closed, the Signal will not repaint itself.
The best time frame to use with this indicator is 15 minute and 10 minute.
Do not use with lower time-frames as settings have been coded for 10 or 15 minute time frame only.
This is only Bank Nifty specific indicator and can not be used for Nifty or other stocks.
