Nifty Smart Zones & Breakout Bars(5min TF only) by Chaitu50c

8월 12일

Nifty Smart Zones & Breakout Bars is a purpose-built intraday trading tool, tested extensively on Nifty50 and recommended for Nifty50 use only.
All default settings are optimised specifically for Nifty50 on the 5-minute timeframe for maximum accuracy and clarity.

Why Last Bar of the Session Matters
The last candle of a trading session often represents the final battle between buyers and sellers for that day.

It encapsulates closing sentiment, influenced by end-of-day positioning, profit booking, and institutional activity.

The high and low of this bar frequently act as strong intraday support/resistance in the following sessions.

Price often reacts around these levels, especially when combined with volume surges.

Core Features
Session Last-Candle Zones

Plots a horizontal box at the high and low of the last candle in each session.

Boxes extend to the right to track carry-over levels into new sessions.

Uses a stateless approach — past zones reappear if relevant.

Smart Suppression System

When more than your Base Sessions (No Suppression) are shown, newer zones overlapping or within a proximity distance (in points) of older zones are hidden.

Older zones take priority, reducing chart clutter while keeping critical levels.

Breakout Bar Coloring

Highlights breakout bars in four categories:

Up Break (1-bar)

Down Break (1-bar)

Up Break (2-bar)

Down Break (2-bar)

Breakouts use a break buffer (in ticks) to filter noise.

Toggle coloring on/off instantly.

Volume Context (User Tip)

For best use, pair with volume analysis.

High-volume breakouts from last-session zones have greater conviction and can signal sustained momentum.

Usage Recommendations
Instrument: Nifty50 only (tested & optimised).

Timeframe: 5-minute chart for best results.

Approach:

Watch for price interaction with the plotted last-session zones.

Combine zone breaks with bar color signals and volume spikes for higher-probability trades.

Use suppression to focus on key, non-redundant levels.

Why This Tool is Different
Unlike standard support/resistance plotting, this indicator focuses on session-closing levels, which are more reliable than arbitrary highs/lows because they capture the final market consensus for the session.
The proximity-based suppression ensures your chart stays clean, while breakout paints give instant visual cues for momentum shifts.

8월 13일

릴리즈 노트

Update Notes

New “Box Source” option added

Added Prev Session: Extremes (HH & LL candles) alongside the existing Prev Session: Last Bar.

Extremes mode plots two boxes per session (one from the session’s highest-high candle, one from the lowest-low candle).

Wick-only rendering

Resistance uses the upper wick (body top → high).

Support uses the lower wick (low → body bottom).


Right-side offset for visibility

Boxes now extend +5 bars on the right side by default (configurable).