This is a simplistic indicator capable of predicting Intraday Reversal regions for almost any chart on NSE/BSE (Indian Stock Exchanges) Notes for Usage: Best works when used on both indexes NIFTY and NIFTYBANK simultaneously in correlation. Its easy to understand that correlation, any one using it should spot it in a few days Also, should only be used on 3 or 5...
I have developed this strategy for NIFTY-50 Index on which is traded National Stock of Exchange(India). It is non-repainting indicator and uses @version=4 This script uses hourly and daily price data. The results will be very different depending on the chart and time-frame of your choice and date range of your choice. The default contract quantity is set to 2...