Hilega Milega is origanal Idea given by Nitish Kumar sir, I just coded it. It uses RSI on which WMA and EMA plotted. Values Used : RSI = 9 WMA = 21 EMA = 3
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Hilega Milega By Nitish Kumar. How it works ?? This indicator uses RSI & WMA crossover mechanism. Buy : When RSI crosses from below to upper side, You can buy and remain in trend until RSI crosses from Upper side to lower side. Sell : When RSI crosses from upper side to lower side, You can sell and remain in trend until RSI crosses from lower side to upper side.
Time frame : Use Higher Time Frame (30 Min) for trend confirmation, when trend confirms you can take entry as per lower Time Frame. Remain in trend until higher time frame do not give sell signal. Update: In new version color background is introduced. Green is Buy Signal, red is sell signal. For double confirmation you can use Fisher Transform Indicator. ( As Suggested buy NK sir)
Note : For intraday trading I personally use 15 min TF along with CPR & Standard Pivot Points for entry and exit.
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What's new ?? 1. Added Lower band & Upper band line for RSI 2. Filling Colors between Middle Line (i.e 50) and RSI 3. Green Color is for buy signal and Red Color is for Sell signal.
*Note: * For good results use it along with CPR & Pivot Points. * For trend use 30 Min TF along with VWAP, and for Entry Exit use 5 Min TF along with VWAP. * You can also use CPR & Pivot points for Entry Exit. * Above CPR search for buying opportunity & below CPR search for selling opportunity.
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What's new ??
Now you can use Hilega Milega with multi time frame on a chart. Add HM twice on chart. One with 1 hr tmf and other with 5/10/15 min tmf. kindly select the time frame in settings. Default time frame is your existing time frame on chart.
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What's new ..?? 1. While using HM for Higher Timeframe, it is showing lagging signal which is fixed. 2. Color filling is fixed. 3. Shows probable price at which HM may cross center line i.e. 50
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What's new ..?? 1. Some bug fixes. 2. Add upper line & lower line.
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Minor Changes * Default RSI 50 price value is disabled now, any one wants to use it can enable from settings.
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Added VWMA line, which is optional. You can enable it from settings. Added Table which shows LTP, Change, % Change, change in 15 min, change in 60 min for INDIAVIX, NIFTY, BANKNIFTY, DOW, SGX, USDINR, GOLD, CRUDE.
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Probable price for RSI 50 Value is added. You can change RSI value.
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Removed table due to which script is taking too much time to load.
Added EMA table which shows chart timeframe/daily/ weekly/monthly/ 50 day/100 day/ 200/ATH day ema with difference from current price.
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Minor changes. Table will show "Trend" now.
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Small change in table size.
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Color settings are editable now.
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Added code for Bar color.
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New Update - Bar color. There are 2 options for bar color. 1. Considering HM crossover 2. Considering HM crossover & RSI 50 level(Typical HM Conditions).
Bar colors: Bullish : Green Color Bearish : Red Color Sideways : Blue
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Triangle up & Triangle down shapes added to notify crossovers.
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What's new ..?? 1. All colors are editable now, you can customize as per your requirement.
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Option provided to change the value of RSI, EMA, WMA & VWMA. EMA table is by default made off, if anyone want to use it kindly on it from settings.
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What's new ..??
Code for "RSI Divergence" is added. To use it go to settings and select.
Note: I am not using RSI Divergence so I don't know about best settings for it. Use It with your own values/settings on your own Risk.
Nitish sir all strategy writing the coad ...like h17,
H20,
Please...
Q ki kabhi live market me cunfus ho jate h na isliye..
gosavivaibhav0205
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Hello sir please share the source code
mihirkaji
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Thanks a lot! One question - have you used the WMA or the VWMA? I think we should be using the vwma as it takes the volume into consideration. WMA does not. Please clarify....thanks again!
AmarsinghShinde24
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@mihirkaji, Used WMA, we can't plot VWMA in this indicator.
RahulJadhav981
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@dotradingwithtrend, have you tried this code ? ma = vwma(src, len)
Any way Smoothness of of line is better with WMA than VWMA, VWMA can show us sudden spikes in volume
AmarsinghShinde24
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@RahulJadhav981, Tried it but as an alternative for wma, not thinking about volume spike. I will add and backtest it for volume spikes, if looks suitable, then I will release it.