JARVISJARVIS is a technical indicator primarily designed for Nifty Bank. But, it also works on other instruments like stocks for example. You may apply it on other instruments if you find it useful.
Once the indicator is plotted, it will have bars with 3 colours
1) Blue - It's watching
2) Green - It's bullish
3) Red - It's bearish
So, it's that easy to interpret.
Following are few examples on NSE:BANKNIFTY
September 20, 2019 - Indicator turned green and remained so till end of the day. If you would have followed this, you would have made more than 2000 points.
September 25, 2019 - Indicator turned red and remained so till end of the day. If you would have followed this, you would have made more than 100 points.
September 26, 2019 and September 27, 2019 - Indicator remained blue and you see that the market was just consolidating.
Above are just a few examples of what this is capable of. Apart from Nifty Bank, it also works well on popular stocks like Reliance, TCS, SBIN etc
Recommended time frame for this is 15 mins, but, you may experiment with other time frames as well. It's all about finding the right time frame for that particular instrument, for example it works best on 2H when applied on Nifty.
Should you have any doubts, feel free to DM me.
Sensex
MULTITIMEFRAME_VWAP_MANOJVWAP is a powerful concept.
It denotes the fair price that is traded in the market.
In other words, it represents a variance of POINT OF CONTROL (POC) which is a Market Profile / Volume Profile Concept.
It is a leading indicator as it is dependent on the price and volume .
Usually VWAP is used for intraday trades and Trading view as an in built indicator which works only for intraday.
This script plots daily vwap , monthly vwap , quarterly vwap and yearly vwap .
The suggested combination is :
intraday charts - daily vwap
daily charts - monthly and / or quarterly vwap
weekly charts - quarterly and / or yearly vwap
INSIDE BAR This indicator identifies Inside Bar.
Inside Bar is an indecisive setup where traders are not sure of the direction which is reflected in the bar range which is usually narrower.
The day following Inside Bar usually would be a decisive bar with wide range.
This decisive bar can be exploited if traded with discipline.
The steps to follow are :
At EOD :
1) Use daily charts for locating Inside Bar with this indicator on.
2) Ensure you keep the parameter prev range Vs inside bar as 0.25 irrespective of default value. This means that the previous bar range is greater than the inside bar range by 25%.
3) Try going through all FNO scrips to locate inside bar (as there is no scanner in Trading View).
4) Once an Inside Bar scrip is located, earmark them or send them to watchlist.
5) Now you will have a watchlist with around 5-6 scrips.
Next trading day at market opening:
5) When the market opens, wait till 9.45 am (first half an hour).
6) Mark the first half an hour high and low. These are opening range high and opening range low.
7) If price breaks out decisively on the upside above opening range high, buy with a stop of opening range low. Target can be based on super trend or ema or any other method. If price breaks out decisively on the downside below opening range low, short with a stop of opening range high.
8) Ensure you follow disciplined position sizing.
Good luck.
