- This simple indicator computes the average of each Banknifty stock and displays the on the chart with color schemes while the average line indicates the average of all Bank Stocks. This indicator works on Banknifty and its stocks.
- It works on all time frames
How You can use this?
You can use this indicator for analysis if the average line is above the 0 line, the stock is moving upside and vice versa for Downside .
- Minor changes : RSI Period added in setting and more confirmation using EMA
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.