4Kaahan_mod2

This script is great for intraday / overnight trades in Nifty50 index, specially in option selling segment. it does not give any exact entries for the trades, but guides the traders as to what kind of trades they must plan in live market. The indicator consists of 3 lines, the top and the bottom lines give the strikes of which you can plan to sell the strangle. The middle line consists of 3 colors, i.e. green, orange and purple, which indicate the following:
Green : Reversal trades
Orange : Strangle sell
Purple : Continuation trade
This indication clubbed with price action can give very good results for intraday trades.
Most of the times, the top, middle and bottom lines also can act as targets for the reversal trades.
Also, for continuation trade, a shift in the levels of the lines, or change in the color of middle line to orange act as an indicator to either hedge your position or exit the continuation trade.
All the best, and happy trading!