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r3sraj
21 lut 2022 05:43

Nifty_Price_Movement_BuildUP 

Nifty 50 IndexNSE

Opis

Dashboard to see Price Momentum Build-Up at Nifty.

It cumulates all prices and their respective weightage.

During initial of a candle, we are not aware of volume is High or Not, we only get it in later buildup. But Price buildup will display it at the same instant that what is going with the price of all stocks.

The logic used here is that
1) If a stock close > open at a particular instant it will add that stock multiplied with its weightage in Nifty to the list of stocks that are positive.

2) If a stock close < open at a particular instant it will add that stock multiplied with its weightage in Nifty to the list of stocks that are negative.

3) Above two will give you data that how many of them are positive and are negative at a particular instant and how they are going to affect Nifty.

In one of the many possible ways, it is superior than that of Volume buildup is that, to determine volume is higher than previous volume, we have to wait for first few seconds/minutes/hours (depending on timeframe you are in) to see volume buildup. The Volume buildup function based indicator is kind of lagging, though volume itself being instant.

Informacje o Wersji

Dashboard to view Price Momentum Build-Up of nifty Top 40 stocks at Nifty .

What is Price Moment Build-UP
Build-UP displays the percentage of Nifty Stocks is pushing Nifty index moving up or down.

Why it was developed?
During initial of a candle, we are not aware of volume is High or Not, we only get it in later buildup. But Price buildup will display it at the same instant that what is going with the price of all stocks. It cumulates all prices and their respective weightage.

Why it is better than Volume?
In one of the many possible ways, it is superior than that of Volume buildup is that, to determine volume is higher than previous volume , we have to wait for first few seconds/minutes/hours (depending on timeframe you are in) to see volume buildup. The Volume buildup function based indicator is kind of lagging, though volume itself being instant.

The logic used here is that:
1) If a stock close > open at a particular instant it will add that stock multiplied with its weightage in Nifty to the list of stocks that are positive.

2) If a stock close < open at a particular instant it will add that stock multiplied with its weightage in Nifty to the list of stocks that are negative.

3) Above two will give you data that how many of them are positive and are negative at a particular instant and how they are going to affect Nifty .


Updated:
1) Added a table format.
2) Added user defined table Transparency.
3) Added capability to view price change build-up at different time frame other than chart time frame.
4) Added facility to change table position at your will.
5) Added facility to add the date on which one changes weightage.

Issues:
Cannot add all 50 stocks due to the limitation of pine script to 40 stocks. But all these 40 stocks account to 96% weightage of Nifty.
Komentarze
d.umesh
Hello sir, plz help me
How to plot this on chart.
Change any settings ?
ranjitsinghsuri1
great work.
santoshpadhy1977
Hi
Thanks for your nice work.

plotting the result at the last candle , practically it's not user friendly as it overlaps and not able to see all details.

can we plot the results in a tabular form at the left side bottom with definite size and scroll bars...please

also can we implement the workaround for 40+ scripts...
r3sraj
@santoshpadhy1977,
I am still learning pine script. Bit busy these days, but rest assured, I am working on a tabular form as well as trying to find a workaround for 40+ scripts.(though all 40 of these have weightage of around 96%)
r3sraj
@santoshpadhy1977,
Bug like overlapping Label is known. Soon I will release it with that issue resolved and much better structured code. Adding scroll bar is not supported by Pine Script. For the time being, If you prefer left side, the script is open, you are always free to edit the text "label.style_label_left" to "label.style_label_right".

I am planning some and one utility to track live price of scripts, with alerts. If you can wait till Holi, as I am a lot busy these days, after Holi, I will release a new update for this script around that. You can always check the comment section or follow to get notification.
santoshpadhy1977
@r3sraj, ok thanks. will wait till HOLI.
r3sraj
@santoshpadhy1977,

Updated, please check
santoshpadhy1977
@r3sraj, Thanks a lot...
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