Arun_K_Bhaskar

Index Reversal Range with Volatility Index or VIX

What is the Indicator?
• The indicator is a visualization of maximum price in which the respective index can go up to in comparison with it's Volatility Index or VIX .

Who to use?
• Intraday
• Swing
• Position
• Long term Investors
Futures
• Options
• Portfolio Managers
• Mutual Fund Managers
• Index Traders
Volatility based Traders
• Long term Investors and Options Traders gets the maximum benefit

What timeframe to use?
• 1 Year: Position & Investors
• 6 Months: Position & Investors
• 3 Months: Swing & Position
• 1 Month: Swing & Position
• 1 Week: Swing
• 1 Day: Swing
• 1 Hour: Intraday & Swing

What are Upper and Lower lines?
• Upper Line: If the index price reach closer to the Upper line there is a high chance of reversal to Bearish trend .
• Lower Line: If the index price reach closer to the Lower line there is a high chance of reversal to Bullish trend .
• This need to be confirmed with multiple levels like Daily, Weekly, Monthly etc.

How to use?
• If the price reach closer to that level there is a high chance of reversal from the current trend.
• To identify the reversal zone of the index.
• To identify the trend.
• Option Traders can Sell a Call or Put Option from that level.
• Long term Investors, Position or Swing traders can plan for a Long entry.
• Intraday traders can use lower timeframes to do the same.

Indicator Menu
• Input VIX: Identify the VIX Symbol of your Index and type it in the box.
• For example for NIFTY Index chart type INDIAVIX in the box.
• Choose multiple timeframes according to your convenience.

How to turn on indicator Name and Value labels?
• Right side of the screen >
• Right click on the Price scale >
• Labels > Indicators and financial name labels, Indicators and financial value labels

Further Reading:
• Various videos and reading materials are available about this method.
Release Notes: Updated on 29 May 2022
  • Added dots between lines.
Release Notes: Updated on 31 May 2022
  • Updated with current Volatility levels as Lines and Labels.
  • The number in % is the Volatility Percentage which appear at the end of each label.
  • Removed the dots on lines as it looks clustered.
Release Notes: Updated on 10 June 2022
  • Added timeframes 30, 5 and 1 minutes.
    Note: The gap between lines is the limitation of script. Draw a line manually to fill that for now.
Skript med en öppen källkod

I sann TradingView-anda har författaren publicerat detta skript med öppen källkod så att andra handlare kan förstå och verifiera det. Hatten av för författaren! Du kan använda det gratis men återanvändning av den här koden i en publikation regleras av våra ordningsregler. You can favorite it to use it on a chart.

Frånsägelse av ansvar

Informationen och publikationerna är inte avsedda att vara, och utgör inte heller finansiella, investerings-, handels- eller andra typer av råd eller rekommendationer som tillhandahålls eller stöds av TradingView. Läs mer i Användarvillkoren.

Vill du använda det här skriptet i ett diagram?