India VIX Based Nifty/BankNifty Range Calculator (Auto Fetch)

VIX-Based Expected Daily Range (Auto Volatility Forecast)
Created by: Harshiv Symposium

📖 Purpose

This indicator automatically fetches the India VIX value and calculates the expected daily price range for major Indian indices such as Nifty and BankNifty.
It helps traders understand how much the market is likely to move today based on current volatility conditions.
Designed for educational and analytical awareness, not for signals or profit-making systems.

⚙️ Core Logic

Expected Daily Move (Range) = (India VIX × Current Index Price) ÷ Multiplier

- Multiplier for Nifty: 1000
- Multiplier for BankNifty: 700

This calculation projects the 1-standard-deviation (≈ 68% probability) and 2-standard-deviation (≈ 95% probability) movement zones for the day.

📊 Example

If India VIX = 15 and Nifty = 25,000:
Expected Move ≈ (15 × 25,000) ÷ 1000 = 375 points

Hence,

- 68% Range: 24,625 – 25,375
- 95% Range: 24,250 – 25,750

This gives traders a realistic idea of daily volatility boundaries.

🧭 Key Features

✅ Auto-Fetch India VIX
No need for manual input — automatically pulls live data from NSE:INDIAVIX.

✅ Dynamic Range Visualization
Plots upper/lower boundaries for 1σ and 2σ probability zones with shaded expected-move area.

✅ Dashboard Panel
Displays:

- Current VIX

- Expected Move (in points and %)

- Upper and Lower Ranges

✅ Smart Alerts
Alerts when price crosses upper or lower volatility range — potential breakout signal.

🎯 How It Helps

Intraday Traders:
Know the likely daily movement (e.g., ±220 pts on Nifty) and plan realistic targets or stops.

Options Traders:
Quickly assess whether it’s a seller-friendly (low VIX, small range) or buyer-friendly (high VIX, large range) session.

Risk Managers:
Use volatility context for stop-loss width and position sizing.

Breakout Traders:
If price breaks beyond the 2σ range → indicates potential volatility expansion.

💡 Interpretation Guide
Condition Market Behavior Strategy Insight
VIX ↓ ( < 14 ) Calm / Range-bound Option Selling Edge
VIX ↑ ( > 20 ) Volatile Sessions Option Buying Edge
Price within Range Stable Market Mean Reversion Setups
Price breaks Range Volatility Expansion Breakout Trades

⚠️ Disclaimer

This indicator is for educational and awareness purposes only.
It does not generate buy/sell signals or guarantee returns.
Always apply your own analysis and risk management.