This indicator will automatically plot daily Bullish and Bearish Zones. Also this indicator mainly works in the Nifty and Bank Nifty Intraday trades. Preferred time frames (3/5/15 Mins)
Calculation
Take Last 5 days O H L C then find H-O and H-L, take average of the difference of H-O and H-L then Minimum Value then the average difference is added with the day...
One of the greatest technical analyst the world has seen, was The Legendary William Delbert Gann. He had simple, creative principles based on astronomical computations. Although he wasn't an intraday trader, his theories produced outcomes that are just as impressive as delivery trading.
On the basis of his approach, I have created an indicator based on intraday...