OPEN-SOURCE SCRIPT
Bigul Index Analysis
"Bigul Index Analysis" is a comprehensive TradingView Pine Script v5 indicator that combines consolidation zone detection with standard pivot point levels for professional index trading analysis.
Core Features
Consolidation Zones
Detects price consolidation periods using zigzag pivot logic over a configurable loopback period (default: 10 bars)
Identifies when price forms tight ranges lasting minimum length (default: 5 bars)
Paints consolidation areas with customizable semi-transparent zones
Draws dynamic upper (red dashed) and lower (lime dashed) boundary lines
Generates breakout alerts when price breaks above/below established zones
Pivot Point Levels
Calculates Standard Pivot Points (PP, R1, S1) using previous day's High, Low, Close
PP = (High + Low + Close) / 3
R1 = 2 × PP - Low
S1 = 2 × PP - High
Plots Yesterday's High/Low as key reference levels
Multiple display options: continuous lines, endpoint labels, or both
Visual Elements
text
📊 Information Table (Top Right)
┌─────────┬──────────┐
│ Level │ Value │
├─────────┼──────────┤
│ PP │ 24567.89 │ ← Yellow
│ R1 │ 24890.12 │ ← Red
│ S1 │ 24245.67 │ ← Green
│ YH/YL │ 24912/24123 │ ← Blue
└─────────┴──────────┘
Color Coding:
🟡 Yellow line: Pivot Point (PP)
🔴 Red line: Resistance 1 (R1)
🟢 Green line: Support 1 (S1)
🟠 Orange stepline: Yesterday High
🟣 Purple stepline: Yesterday Low
🔵 Blue zone: Consolidation area
➖ Red/Lime dashed: Zone boundaries
Trading Signals & Alerts
5 Alert Conditions:
Consolidation Breakout UP - Price breaks above zone
Consolidation Breakout DOWN - Price breaks below zone
Price Above R1 - Close crosses above R1 level
Price Below S1 - Close crosses below S1 level
Customization Options
text
Loopback Period: 2-50 bars (default: 10)
Min Consolidation Length: 2-20 bars (default: 5)
Paint Zones: Toggle on/off
Zone Color: Customizable transparency
Pivot Display: Lines / Labels / Both
Toggle Pivot Points & Yesterday H/L independently
Use Case for Bigul Index Trading
Perfect for NIFTY/BANKNIFTY intraday analysis:
Identify consolidation zones for breakout setups
Use pivot levels as intraday support/resistance
Yesterday H/L as key reference for stop-loss/target
Multiple timeframe confirmation with table values
Strategy Example: Long when price breaks consolidation zone upward AND above PP/R1 confluence
Core Features
Consolidation Zones
Detects price consolidation periods using zigzag pivot logic over a configurable loopback period (default: 10 bars)
Identifies when price forms tight ranges lasting minimum length (default: 5 bars)
Paints consolidation areas with customizable semi-transparent zones
Draws dynamic upper (red dashed) and lower (lime dashed) boundary lines
Generates breakout alerts when price breaks above/below established zones
Pivot Point Levels
Calculates Standard Pivot Points (PP, R1, S1) using previous day's High, Low, Close
PP = (High + Low + Close) / 3
R1 = 2 × PP - Low
S1 = 2 × PP - High
Plots Yesterday's High/Low as key reference levels
Multiple display options: continuous lines, endpoint labels, or both
Visual Elements
text
📊 Information Table (Top Right)
┌─────────┬──────────┐
│ Level │ Value │
├─────────┼──────────┤
│ PP │ 24567.89 │ ← Yellow
│ R1 │ 24890.12 │ ← Red
│ S1 │ 24245.67 │ ← Green
│ YH/YL │ 24912/24123 │ ← Blue
└─────────┴──────────┘
Color Coding:
🟡 Yellow line: Pivot Point (PP)
🔴 Red line: Resistance 1 (R1)
🟢 Green line: Support 1 (S1)
🟠 Orange stepline: Yesterday High
🟣 Purple stepline: Yesterday Low
🔵 Blue zone: Consolidation area
➖ Red/Lime dashed: Zone boundaries
Trading Signals & Alerts
5 Alert Conditions:
Consolidation Breakout UP - Price breaks above zone
Consolidation Breakout DOWN - Price breaks below zone
Price Above R1 - Close crosses above R1 level
Price Below S1 - Close crosses below S1 level
Customization Options
text
Loopback Period: 2-50 bars (default: 10)
Min Consolidation Length: 2-20 bars (default: 5)
Paint Zones: Toggle on/off
Zone Color: Customizable transparency
Pivot Display: Lines / Labels / Both
Toggle Pivot Points & Yesterday H/L independently
Use Case for Bigul Index Trading
Perfect for NIFTY/BANKNIFTY intraday analysis:
Identify consolidation zones for breakout setups
Use pivot levels as intraday support/resistance
Yesterday H/L as key reference for stop-loss/target
Multiple timeframe confirmation with table values
Strategy Example: Long when price breaks consolidation zone upward AND above PP/R1 confluence
Skrip open-source
Dengan semangat TradingView yang sesungguhnya, pembuat skrip ini telah menjadikannya sebagai sumber terbuka, sehingga para trader dapat meninjau dan memverifikasi fungsinya. Salut untuk penulisnya! Meskipun Anda dapat menggunakannya secara gratis, perlu diingat bahwa penerbitan ulang kode ini tunduk pada Tata Tertib kami.
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.
Skrip open-source
Dengan semangat TradingView yang sesungguhnya, pembuat skrip ini telah menjadikannya sebagai sumber terbuka, sehingga para trader dapat meninjau dan memverifikasi fungsinya. Salut untuk penulisnya! Meskipun Anda dapat menggunakannya secara gratis, perlu diingat bahwa penerbitan ulang kode ini tunduk pada Tata Tertib kami.
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.