Trading View Indicator for Intraday Buy/Sell Signal

How to use:

Note: This is to be used for Intraday signals only.

1. Open Nifty or Bank Nifty Futures chart (this indicator only works with Futures chart. Wont work on the Spot)
2. Open Pine Editor (from the bottom tab)
3. Paste the code from indicator_code.txt to Pine Editor
4. Click on Add to Chart. (You can also save this indicator)
5. Change the time frame to 5 minutes.
6. Now you can see the Buy/Sell signal on the chart
7. This indicator does not give too many signals (for some days, there may not be any signal at all).
8. You can set the SL on the previous candle's High/Low or based on your positin sizing.
9. For target, keep trailing with previous candles's High/Low
10. This is a non-repainting signal ie signal generates only on candle closing (based on the time frame selected) and once signal is generated it will stay there.

Indicator Name:

Name of the signal is random "Carmelita Adelina Leandro" to signify that name does not matter at all. You can set any name as per your likings.

Idea of sharing this indicator is to show you that simple things work. Many indicator that people are selling now a days are derivatives of the many indicators available free of cost in TradingView. Do not fall pray sunch fancy Indicators. Use this code or any available free indicator on trading view a base and build your ideas on top of it.

"Give a Man a Fish, and You Feed Him for a Day. Teach a Man To Fish, and You Feed Him for a Lifetime"

I would encourage you to learn Pine Script, so that you can test your strategies/create signals for your own use.

For any queries/clarifications, ask me on Twitter:

https://twitter.com/ProfTheta21

Youtube:

https://t.co/oAWPDlUqze

This is how indicator looks like:

https://twitter.com/ProfTheta21/status/1516095748886380546

Example of Indicator catching the trend nicely (with initial false signal).

https://twitter.com/ProfTheta21/status/1516342300963590147

Disclaimer:

1. I am not responsible for any profit/loss you might incur from using this inidcator. Please use discretion while using this indicator.
2. Please strictly follow risk management for any trade that you take.
3. Not all indicators work 100%. At times you may get false signals. Please strictly use SL for such days. When this indicator catch a trend, you can ride it, using previous 1 or 2 candle's low/high as trailing SL.

Happy Trading!!!