OPEN-SOURCE SCRIPT
Updated Nifty Volume
Why this Script : Nifty 50 does not provide volume and some time it is really useful to understand the volume .
This is the pine script which calculate the nifty 50 volume .
Logic :
Take each stock contribute to nifty 50 and find it's volume .
Multiply the same with contribution percentage of the same on Nifty 50
Add up all of them and find the total volume .
There is a similar script by daytraderph which is built for Bank Nifty (custom volume) . I took the same and built for Nfity.
Nifty has 50 stocks and you cant call security method more than 40 times from one Pine script, so this is the limitation of this script. It consider top 40 stocks and find the volume (which contribute pretty much around 95% of the volume) and convert the same to 100 %
This is the pine script which calculate the nifty 50 volume .
Logic :
Take each stock contribute to nifty 50 and find it's volume .
Multiply the same with contribution percentage of the same on Nifty 50
Add up all of them and find the total volume .
There is a similar script by daytraderph which is built for Bank Nifty (custom volume) . I took the same and built for Nfity.
Nifty has 50 stocks and you cant call security method more than 40 times from one Pine script, so this is the limitation of this script. It consider top 40 stocks and find the volume (which contribute pretty much around 95% of the volume) and convert the same to 100 %
Release Notes
Updating chart Release Notes
Updating chartRelease Notes
New weightage updatedRelease Notes
Updated with latest weightage. Release Notes
Small bug fix to find the accurate value of total volume from 40 scripts volume. Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.