StockCloud_Chopiness

٢٨ نوفمبر ٢٠٢٢

This indicator describes the state of the market. If the region is under green shades, you could take trade based on your other criterias and if its red , the market is chopping and it is not advisable to take the trade. This works for BANKNIFTY spot chart and ideally on a 5 min Time frame. Do not use this alone but use it best with Price Action. Also ignonre this indicator values on sudden spike candles, wait for the PA and indicator behaviour to take the trade.
Green signifies the possibility of being in a trend state and doesnt mean a long condition and red in a consolidation / trap state and doesnt mean a short condition.