This indicator will automatically plot daily Bullish and Bearish Zones. Also this indicator mainly works in the Nifty and Bank Nifty Intraday trades. Preferred time frames (3/5/15 Mins)
Calculation
Take Last 5 days O H L C then find H-O and H-L, take average of the difference of H-O and H-L then Minimum Value then the average difference is added with the day opening to get the bullish zone and the average is subtracted from the opening price to get the bearish zone
Long Trade Buy above the bullish zone line or Buy near the bearish support levels when it takes support
Example 1 (Buy above Bullish Zone)
Short Trade Sell below the bearish zone line or Sell when there is a rejection from the bullish zone
Example 1 (Sell Below Bearish Zone)
No Trade Zone
If the market move between the zones then, the momentum is very week.
bro please provide the code for adding additional confirmation
raghavayyav
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Hi sir,plz send me calculation details
Agravatmeet1234
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i tried your calculation but level are different
krsdas
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@Agravatmeet1234, send me your email id [krsdasatgmail] and i will send the details
rahulrverma08
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I manually calculated according to your logic, for the 5 days it's showing different. Is there something which i am missing?? What about close? Can you please help me here. I want to reduce or increase the days
krsdas
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@rahulrverma08, send me your email id [krsdasatgmail] and i will send the details