Nifty Hierarchical Macro Guard

Overview
The Nifty Hierarchical Macro Guard is a "Market Compass" indicator specifically designed for Indian equity traders. It locks its logic to the Nifty 50 Index (NSE:NIFTY) and applies a strict hierarchy of trend analysis. The goal is simple: prioritize the long-term trend (Monthly/Weekly) to decide if you should even be in the market, then use the short-term trend (Daily) for precise exit timing.

This script ensures you never ignore a macro "crash" signal while trying to trade minor daily fluctuations.

The Color Hierarchy (Priority Logic)
The indicator uses a "Top-Down" filter. Higher timeframe signals override lower timeframe signals:

Level 1: Monthly (Ultra-Macro) — Deep Maroon

Condition: Nifty 10 EMA is below the 20 EMA on the Monthly chart.

Action: This is the highest priority. The background will turn Deep Maroon, overriding all other colors. This is your "Forget Trading" signal. The long-term structural trend is broken.

Level 2: Weekly (Macro Warning) — Dark Red

Condition: Monthly is Bullish, but Nifty 10 EMA is below the 20 EMA on the Weekly chart.

Action: The background turns Dark Red. This indicates a significant macro correction. You should stay out of fresh positions and protect capital.

Level 3: Daily (Tactical) — Light Red / Light Green

Condition: Both Monthly and Weekly are Bullish (Green).

Action: The background will now react to the Daily 10/20 EMA cross.

Light Green: Nifty is healthy; safe for fresh positions.

Light Red: Tactical exit signal. Nifty is seeing short-term weakness; exit positions quickly.

Key Features
Symbol Locked: No matter what stock you are viewing (Reliance, HDFC, Midcaps), the background only reacts to NSE:NIFTY.

Clean Interface: No messy lines or labels on the price chart. The information is conveyed purely through background color shifts.

Customizable: Change the MA types (EMA/SMA) and lengths (e.g., 10/20 or 20/50) in the settings.

Macro Dashboard: A small, transparent table in the top-right corner displays exactly which timeframe is currently controlling the background color.

How to Use for Nifty Strategy
Stay Out: If the chart is Deep Maroon or Dark Red, do not look for "buying the dip." Wait for the macro health to return.

Take Exits: If the background is Light Green and suddenly turns Light Red, it means the Daily Daily 10/20 cross has happened. Exit your Nifty-sensitive positions immediately.