Index Top 5 Heavyweight Analyzer

前天

## 🎯 Overview

This advanced Pine Script indicator applies the **Pareto Principle** to Nifty 50 trading: the top 5 heavyweights control 40%+ of the index's movement. Instead of watching all 50 stocks, this tool monitors the "Kings" that actually drive the index direction.

Professional traders don't trade the index in isolation - they look "under the hood" at heavyweight constituents. This indicator does exactly that, providing real-time analysis of HDFC Bank, Reliance, ICICI Bank, Bharti Airtel, and TCS to predict Nifty movements before they happen.

## 🔥 Key Features

### 1️⃣ Four-Quadrant OI Cycle Analysis
Identifies which cycle each heavyweight is in using Open Interest from continuous futures contracts:
- **Long Buildup** (Price ↑ + OI ↑): Institutions buying aggressively → Bullish driver
- **Short Covering** (Price ↑ + OI ↓): Bears trapped and exiting → Fast bullish spike
- **Short Buildup** (Price ↓ + OI ↑): Big money shorting → Bearish drag
- **Long Unwinding** (Price ↓ + OI ↓): Buyers giving up → Index weakness

### 2️⃣ Alignment Score System
Counts how many of the top 5 stocks are bullish/bearish/neutral. When 3+ heavyweights align in the same direction with sufficient weightage (15%+), the indicator generates high-conviction trade signals for the Nifty index.

### 3️⃣ Cost of Carry (Basis) Analysis
Compares Future vs Spot prices to gauge institutional sentiment:
- **Rising Premium**: Aggressive institutional buying
- **Discount (Backwardation)**: Extreme bearishness

### 4️⃣ Divergence Detection
Warns when the index move contradicts heavyweight signals - identifying "fake moves" that professional traders fade.

### 5️⃣ Actionable Trade Signals
- **Strong Bullish**: Buy Index Calls / Long Nifty Future
- **Strong Bearish**: Buy Index Puts / Short Nifty Future
- **Neutral/Choppy**: Iron Condor / Avoid Directional trades

## 📈 What Makes This Different?

Unlike basic index indicators, this tool:
- Fetches real Open Interest data from continuous futures (RELIANCE1!, HDFCBANK1!, etc.)[1][2]
- Applies weighted analysis - top 3 stocks matter most
- Provides professional trade recommendations based on constituent alignment
- Uses dark theme optimized colors for extended screen time
- Displays comprehensive dashboard with price, OI, OI change %, cycle status, and basis

## 💡 How to Use

1. **Add to any Nifty 50 or Bank Nifty chart**
2. **Watch the dashboard** in the top-right corner showing all 5 heavyweights
3. **Check the ALIGNMENT row**:
- 🔼 Bull Count | 🔽 Bear Count | ➖ Neutral Count
- Weighted Bull/Bear scores
4. **Read the INDEX SIGNAL row** for trade recommendations
5. **Look for divergence warnings** (⚠️) indicating fake moves
6. **Use the histogram plot** to visualize signal strength over time

## ⚙️ Customizable Settings

- **Constituents**: Modify ticker symbols and weightages
- **Signal Thresholds**: Adjust minimum alignment required (default: 3 out of 5)
- **Display Options**: Toggle table, signals, and basis calculations
- **Timeframe**: Works on all timeframes (intraday and daily)

## 🎨 Dark Theme Optimized

Designed specifically for TradingView's dark mode with:
- High-contrast colors that reduce eye strain
- Bright lime green (#00E676) for bullish signals
- Bright red (#FF5252) for bearish signals
- Electric colors for easy pattern recognition

## 📊 Best Used For

- **Nifty 50 Options Trading**: Know whether to buy calls or puts
- **Index Futures Trading**: Identify high-probability directional moves
- **Risk Management**: Avoid trading when heavyweights show divergence
- **Market Timing**: Enter when top stocks align (3+ in same direction)

## 🚀 Pro Tips

- **"Double Engine" Signal**: When Reliance shows Long Buildup AND HDFC Bank shows Short Covering → Extremely bullish for Nifty
- **Sector Rotation**: If Banks are strong but Tech is weak (or vice versa) → Expect choppy, range-bound index
- **Rollover Analysis**: Near expiry, watch for high OI with rising basis → Bulls/Bears carrying positions forward with confidence

## ⚠️ Important Notes

- Requires TradingView Premium for multiple `request.security()` calls
- OI data available only for stocks with active futures
- Best used on NSE exchange during market hours
- Combine with your own risk management strategy

## 📝 Credits

Based on professional institutional trading methodologies that analyze index constituents rather than the index itself. Implements the Pareto Principle: focus on the 20% (top 5 stocks) that drives 80% of the index movement.

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## 🔔 Alerts Available

- Strong Bullish Signal (3+ stocks aligned bullish)
- Strong Bearish Signal (3+ stocks aligned bearish)
- Divergence Warning (fake index moves)

**Made for serious traders who want to trade like institutions - by watching what the "smart money" is doing in the heavyweights.**

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*Optimize your Nifty trading by monitoring the stocks that actually matter. Stop watching all 50 - focus on the 5 Kings!* 👑

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**Tags**: Nifty, Open Interest, OI Analysis, Heavyweight Analysis, Index Trading, Options Trading, Futures Trading, Institutional Analysis, Smart Money, Pareto Principle

6小时前

版本注释

## **📊 Index Heavyweight Analyzer - Pro Edition**

**Major Update: Institutional-Grade Signal Quality & Regime Detection**

### ✨ New Features

**🎯 Signal Quality Score (0-100)**
- Real-time confidence meter for every signal
- Analyzes alignment, weight distribution, trend purity & basis confirmation
- Auto-categorizes trades: Full Size (60-100) | Spreads Only (30-60) | No Trade (0-30)
- Distinguishes pure trends (LB) from short covering (SC) for better entry quality

**📈 Regime Filter**
- Detects market conditions: Trend Up | Trend Down | Choppy
- Uses ATR ratio & consecutive bar confirmation
- Recommends optimal option structures based on regime:
- Trend regimes → Directional (Calls/Puts, Spreads)
- Choppy regimes → Non-directional (Iron Condor, Straddle)

**⚡ Performance Optimization**
- Reduced API calls by 50% (63→33) - now works on all TradingView plans
- Faster execution with batched data requests
- Toggle features on/off to manage API limits

### 📋 What It Shows
Tracks 10 Nifty heavyweights (HDFC, Reliance, ICICI, Bharti, TCS, SBI, Infy, HUL, Axis, Adani) with OI cycle analysis, basis tracking, weighted signals, and now **confidence scoring** for smarter options trading.

**Perfect for:** Options traders seeking high-probability setups with institutional-grade analytics.

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6小时前

版本注释

Minor fix