The indicator will show the Sectors which are leading or lagging NIFTY50 index based on Alpha & Beta values. Stock selection can be done based on the respective Sectors.
- Look for alpha & beta values.
- Prefer one with high beta.
- Greens are leaders & Blues are lagers.
- This don't completely indicates a trend, but it can give the overview of a major trend & market movers.
- Gray line is the base index NIFTY50, it is Zero.
- Turn on Indicator Name Label in Settings > Chart Settings.
- In intraday or positions, in a leading Sector there will be a leading stock, spot it out.
- Make a sector wise watchlist of stocks.
- Use higher or Daily timeframe for Swing trades.
- Detailed descriptions are available in my previous Alpha & Beta indicators.
Release Notes:
Update v1.1
Added table.
Changed color scheme.
Added table.
Changed color scheme.
Release Notes:
Update v1.2
Day Start Marker color choice.
Simplified menu.
Avoided Labels and Tables show/hide option as it is available in the Style tab.
Day Start Marker color choice.
Simplified menu.
Avoided Labels and Tables show/hide option as it is available in the Style tab.
Release Notes:
Update v1.3
- Included day % change in the table.
Release Notes:
Updated on 24 July 2022
- Bug fix
Release Notes:
Updated on 24 July 2022
- Bug fix