The indicator used is Ekambit Strength Index (ESI), which makes it easy to identify trends and reversals using weighted multi-timeframe comparisons in the same chart.
We at Ekambit Technologies use it daily with consistent success in Indian markets, especially with NIFTY and BANKNIFTY.
ESI indicator rules: 1) Above mid-zone & rising: uptrend 2) Falling from high-zone: uptrend reversal 3) Below mid-zone & falling: downtrend 4) Rising from low-zone: downtrend reversal
Apply the same indicator to VIX (in the same chart!) or upto 3 correlated instruments to gain greater conviction for your trades, as shown in the chart. In addition to the chart timeframe, optionally 3 higher weighted timeframes can be used in ESI computation.
So in effect, ESI is a single indicator which provides an insight of 16 indicators (4 timeframes * 4 instruments).
Use the link below to obtain 7-days free access to ESI indicator.
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.