Easy trend following and reversal - Nifty, Bank Nifty

ekambit Updated   
NSE:NIFTY   Nifty 50 Index
The indicator used is Ekambit Strength Index (ESI), which makes it easy to identify trends and reversals using weighted multi-timeframe comparisons in a single chart.

We at Ekambit Technologies use it daily with consistent success in Indian markets, especially with NIFTY and BANKNIFTY .

ESI indicator rules:
1) Above mid-zone & rising: uptrend
2) Falling from high-zone: uptrend reversal
3) Below mid-zone & falling: downtrend
4) Rising from low-zone: downtrend reversal

Apply the same indicator to VIX (in the same chart!) or up to 3 correlated instruments to gain greater conviction for your trades, as shown in the chart.
In addition to the chart timeframe, optionally 3 higher weighted timeframes can be used in ESI computation.

In effect, ESI is a single indicator which provides an insight of 16 indicators (4 timeframes * 4 instruments).
Use the link below to obtain 7-days free access to ESI indicator.

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