NSE BankNifty Spot Volume - by GrowMore Indicators

NSE 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/co...s/ind_nifty_bank.pdf

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.

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WHAT IS UPDATED ?

Updated with the New Color Function by Pine !!!

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WHAT IS UPDATED ?

==> Moving Average Line is now Hull Moving Average,
The Table is plotted at bottom right showing dynamic values of volume in Hull Moving Average and Volume of Banknifty Spot.

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WHAT IS UPDATED ?
-in version 3
# The Color options for bullish and bearish columns is updated.
# The weightage for banknifty banks is updated, the link is - www.niftyindices.com...l-indices/nifty-bank

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What is Updated ?

# Options to add or remove volume moving average.
# Weightage updates in Bank-Nifty constituents.

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What Is Updated ?

# Input section Updates.
# Unser defined resolution added.

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What is Updated ?

# Updated to Pine version 5.
# Minor Input tweaks.

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What is Updated ?

# 'Weightage updated and link is www.niftyindices.com...indices/nifty-bank'.
# Negative Volume Bars are below Zero Line.
# Input Tweaks.

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What is Updated ?

# Minor Input Tweaks.
# Old format is taken back.
# Weightage is updated.

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What is updated ?

In version 9, below is updated=
# New Text Box is added.
# Banknifty Weightage update link is added in text box.
# Input section have bank names fixed with weightage can be edited.
# Cosmetic Changes.

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What is updated ?
# Banks Updated with the NSE Indices website.
# Percentage update from NSE Indices website.

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What is updated ?

In this version v11, below is updated=
# Weightage is updated.
# Index Volume by TradingView is added as a cell to compare with derived volume.