Nifty50 Bullish Bearish Scanner▪ How to use ?
The Screener has 40 stocks which are selected from NSE Nifty50 (list is given below) (cannot be editable) and after 9:15 am IST, it will scan most probable Bullish and Bearish stocks, both stocks will be labelled separately.
▪ Entry may be made at specified near the Stock name and target and SL is also mentioned nearby. Priority to be given to the stop-loss first. User can change profit percentage and Stop-loss percentage as per need, max. 10% can be done, default SL = 0.5% and Profit = 2%. Do use the indicator with other analysis, indicators, strategies, etc. Do not wait for target to hit, also use your calculations to book profit.
▪ How the figures are calculated ?
Conditions for Bullish and Bearish are calculated when trade day starts, and the default timeframe is for 1 Day (i.e.-Current Whole Day)
means the target and stop-loss are for intraday whole day, which can be changed to week, month, etc., Here Entry points are calculated depending upon the current days open price, with consecutive profit and stop-loss are calculated. The Percentage profit and stop-loss are
calculated including previous days price also, confusion to be avoided with figures.
▪ Caution :
If in morning any stock comes in any of list and if it goes from that list, that means the reversal took place for that stock(s) and stop-loss is hit. If any stock is opened Gap-Up or Gap-Down that it will come in either of the Bullish / Bearish stocks, then those stocks maybe
avoided.
▪ Which Nifty50 Stocks are included ?
Top 40 stocks from NSE Nifty50 are selected which are included are below =
ADANIPORTS, ASIANPAINT, AXISBANK, BAJAJ_AUTO, BAJFINANCE, BHARTIARTL, BPCL, BRITANNIA, CIPLA, DIVISLAB, DRREDDY,
EICHERMOT, GRASIM, HCLTECH, HDFC, HDFCBANK, HEROMOTOCO, HINDALCO, HINDUNILVR, ICICIBANK, INDUSINDBK, INFY
ITC, JSWSTEEL, KOTAKBANK, LT, M_M, MARUTI, RELIANCE, SBILIFE, SBIN, SUNPHARMA, TATACONSUM, TATAMOTORS, TATASTEEL
TCS, TECHM, TITAN, UPL, WIPRO.
▪ Indicator options :
Choice to hide bearish / bullish stocks labels, change background color of label, change text color of label, user can change position of label from the current bar, modify stop-loss and profit percentage.
▪ Alerts
You can create an alert from it easily. No additional configuration is required, message and alert on close is used the code.
The current timeframe candle is considered as alerts is set to once per bar close.
▪ Note: The initial load may be slow. If something doesn't seem to work, you can try the following:
- wait more time for it to load.
- hide & show or remove & add back to chart.
- don't add the indicator to chart multiple times in a short amount of time, as you may be rate limited
- Remember that majority of indicators fails in a sideways market, also every indicator is not 100% accurate.
▪ Disclaimer
Please remember that past performance may not be indicative of future results.
Due to various factors, including sudden changing market conditions, the indicator may not perform good.
This description and the indicator don’t provide any financial advice.
