Banknifty Direction Bank Stocks is indicator to give Banknifty future direction.
This Indicator is giving signal by taking 11 Major Indian Bank trend into consideration.
This indicator is giving two signal Bullish and Bearish . Bullish signal can be used for long Banknifty and Bearish signal can be used to close existing Banknifty position and make new short side position and again when Bullish signal come then close existing short position and take new long position and so on.
There is zone area green zone and red zone and central line. Green zone is Bullish area and Red zone is Bearish area.
When ever green line cross over red line then Bullish signal generated and when ever green line cross under red line Bearish Signal generated.
Strong Bullish when Crossover is happening above central line and Strong Bearish when Cross under is happening below central line.
Many Thanks to LazyBear main author, I have used his wave trend function and modified that as per Banknifty index so that we can get better result.
User must keep the default setting for getting better results as results are back tested. If setting changed then result may vary.
I have added here back tested performance user can see those results. I have added commission and slippage as well.
This indicator is available on Subscription.
PM/DM for more information about the script access.
Use the link below to obtain access to this indicator
Catatan Rilis
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Source Code changed to Version 4 and Bar color added. and Minor Fix.
Catatan Rilis
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Updated Histogram color calculation and removed background color. Added Slippage and commission on calculation of profit.
Signal is working with 1m ,3m, 5m, 15m ,30m time frame. higher time frame results are not good.
Catatan Rilis
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Updated code for making profitable 1m , 3m lower time frame.
Catatan Rilis
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Updated the code for two new cross over with existing line cross over. From all three any one should be enabled and check the result in Strategy Tester.
Newly added below.
1) HMA crossover SMMA 2) SMMA 7 crossover SMMA 14
Catatan Rilis
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Three different kind of line plot added based on ON and OFF crossover from settings.
Catatan Rilis
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Modified the code for latest bank inclusion like Bandhan Bank Ltd and exclusion of Yes Bank Ltd. Change the algo to improve the performance.
Catatan Rilis
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With this update I have removed BankofBaroda and Include IDFCFIRSTB as this changes latest came from NSE and i have updated their latest weight on banknifty.
Catatan Rilis
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updated existing performance and added ATR for trade direction to improve the performance of indicator. With ATR I am finding the trend of existing time frame candles and based on that what ever trades are there that I am filtering . Improved the performance from 25% to 300% almost but if u are trading all the signals.
@VJind, given till tuesday use 5 minute or 10 minute chart only. aftar that you have to pay the fee 1000 rs to access indicator
ashishpurohit
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hi can i have accesses on trial basis
siddmuk2005
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@ashishpurohit,
Indicator access is paid only. Trail i have close for now. If you want to access you have to pay the subscription fees which 1000 rs per month.
tharikweb
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Could you please give trial access to this indicator
siddmuk2005
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@tharikweb, access given for next 2 days use . 5 minute and 15 minute chart and watch the histogram carefully.