Suitable for intraday banknifty 5min,10min 15min chart
Check if it suits you, in stocks also.
I got this idea from @Abhishekkar_ video youtube.com
Borrowed this idea from someone else and modified as per our need.
JARVIS is a technical indicator primarily designed for Nifty Bank. But, it also works on other instruments like stocks for example. You may apply it on other instruments if you find it useful.
Once the indicator is plotted, it will have bars with 3 colours
1) Blue - It's watching
2) Green - It's bullish
3) Red - It's bearish
So, it's that easy to interpret....
Used for the Indian Stock Market, apply this indicator on the 15 minute chart.
Observe the 4th Candle which is formed at 10 O'clock, and you will see the marked high & low of that candle.
After closing the 4th candle, if on the 15 minute chart, the price breaks the high or low of the 4th Candle, we initiate the trade.
One of the finest indicator I have created till date.
Works best for entry, as well as exit.
Would suggest exit based on R:R as well as the indicator exit.
Green = go long Red = go short
Divergence also occurs sometimes.
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Exact pint point of price at which the color changes is also available in different...