OPEN-SOURCE SCRIPT
nifty vwap 3
Monitors the "Big Players"
It tracks the 10 most important stocks (like HDFC Bank, Reliance, and ICICI Bank) because these stocks carry the most "weight" and usually decide where the Nifty index goes.
2. The VWAP Test (The Filter)
For each stock, the code checks:
Is the current price Above its average price (VWAP)?
Or is it Below its average price?
Why? If a stock is above VWAP, it is considered Strong (buyers are in control). If it is below, it is Weak (sellers are in control).
3. Calculates "Power" (Weightage)
Instead of just counting stocks, it calculates their combined percentage in the Nifty.
Example: If only 3 stocks are "Above VWAP" but they are the biggest ones (like HDFC and Reliance), the "Total Weight" might still be very high (e.g., 30%), suggesting the market has underlying strength despite fewer stocks being green.
4. Visual Table
It puts all this info into a neat Table on the top-right of your chart.
Teal Section: Shows stocks that are Strong/Bullish.
Red Section: Shows stocks that are Weak/Bearish.
Summary: It tells you exactly how many stocks are on each side and their total percentage impact.
It tracks the 10 most important stocks (like HDFC Bank, Reliance, and ICICI Bank) because these stocks carry the most "weight" and usually decide where the Nifty index goes.
2. The VWAP Test (The Filter)
For each stock, the code checks:
Is the current price Above its average price (VWAP)?
Or is it Below its average price?
Why? If a stock is above VWAP, it is considered Strong (buyers are in control). If it is below, it is Weak (sellers are in control).
3. Calculates "Power" (Weightage)
Instead of just counting stocks, it calculates their combined percentage in the Nifty.
Example: If only 3 stocks are "Above VWAP" but they are the biggest ones (like HDFC and Reliance), the "Total Weight" might still be very high (e.g., 30%), suggesting the market has underlying strength despite fewer stocks being green.
4. Visual Table
It puts all this info into a neat Table on the top-right of your chart.
Teal Section: Shows stocks that are Strong/Bullish.
Red Section: Shows stocks that are Weak/Bearish.
Summary: It tells you exactly how many stocks are on each side and their total percentage impact.
オープンソーススクリプト
TradingViewの精神に則り、このスクリプトの作者はコードをオープンソースとして公開してくれました。トレーダーが内容を確認・検証できるようにという配慮です。作者に拍手を送りましょう！無料で利用できますが、コードの再公開はハウスルールに従う必要があります。
免責事項
これらの情報および投稿は、TradingViewが提供または承認する金融、投資、取引、またはその他の種類の助言もしくは推奨であることを意図したものではなく、またこれらに該当するものでもありません。詳細は利用規約をご覧ください。
オープンソーススクリプト
TradingViewの精神に則り、このスクリプトの作者はコードをオープンソースとして公開してくれました。トレーダーが内容を確認・検証できるようにという配慮です。作者に拍手を送りましょう！無料で利用できますが、コードの再公開はハウスルールに従う必要があります。
免責事項
これらの情報および投稿は、TradingViewが提供または承認する金融、投資、取引、またはその他の種類の助言もしくは推奨であることを意図したものではなく、またこれらに該当するものでもありません。詳細は利用規約をご覧ください。