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📊 SECTORAL DASHBOARD v1.0

Complete Guide for NSE Sector Index Trading

Version 1.0 | December 2024

📋 Table of Contents

🎯 OVERVIEW

Sectoral Dashboard v1.0 is a comprehensive Pine Script indicator that tracks all 20 major NSE sector indices in real-time. Perfect for sector rotation strategies, market breadth analysis, and identifying strong/weak sectors for trading opportunities.

🌟 Key Highlights:

💡 Why Use Sectoral Dashboard?

Perfect For:

🌟 FEATURES & CAPABILITIES

1. Comprehensive Sector Coverage

Monitors all 20 major NSE sector indices including:

📈 Benchmark: NIFTY 50, CNX500
🏦 Banking: BANKNIFTY, PSU BANK, PVT BANK
💰 Finance: FINNIFTY, FIN EX-BANK
🚗 Auto: NIFTY AUTO
💊 Pharma: NIFTY PHARMA, HEALTHCARE
💻 IT: NIFTY IT
🏭 Metal: NIFTY METAL
🛢️ Energy: OIL & GAS, ENERGY
🏗️ Infra: NIFTY INFRA, REALTY
🍔 FMCG: NIFTY FMCG
📺 Media: NIFTY MEDIA
🛍️ Consumer: CONS DURABLES

2. Dashboard Features

Column Description Purpose
📊 Sector Index name/symbol Identify which sector
💰 LTP Last Traded Price Current index level
📈 % Chg % change from previous close Daily performance
📊 RSI RSI(14) value Momentum indicator
📍 PDH/PDL Position vs previous day high/low Breakout detection
📉 Trend Position vs EMA(200) Long-term trend
🔄 EMA EMA(9) vs EMA(15) signal Short-term momentum
💎 VWAP Volume Weighted Average Price Intraday reference
🎯 Signal Final trading signal Action recommendation

3. Chart Overlay Indicators

On Your Main Chart:

📋 ALL 20 NSE INDICES COVERED

# Index Name Symbol Sector/Category
1 NIFTY 50 NSE:NIFTY Benchmark - Top 50 stocks
2 BANKNIFTY NSE:BANKNIFTY Banking sector
3 FINNIFTY NSE:CNXFINANCE Financial services
4 NIFTY AUTO NSE:CNXAUTO Automobile sector
5 CNX500 NSE:CNX500 Broad market - 500 stocks
6 NIFTY FMCG NSE:CNXFMCG Fast Moving Consumer Goods
7 NIFTY IT NSE:CNXIT Information Technology
8 NIFTY MEDIA NSE:CNXMEDIA Media & Entertainment
9 NIFTY METAL NSE:CNXMETAL Metals & Mining
10 NIFTY PHARMA NSE:CNXPHARMA Pharmaceutical
11 PSU BANK NSE:CNXPSUBANK Public Sector Banks
12 NIFTY REALTY NSE:CNXREALTY Real Estate
13 PRIVATE BANK NSE:NIFTYPVTBANK Private Sector Banks
14 HEALTHCARE NSE:NIFTY_HEALTHCARE Healthcare services
15 CONSUMER DURABLES NSE:NIFTY_CONSR_DURBL Consumer Durables
16 OIL & GAS NSE:NIFTY_OIL_AND_GAS Oil & Gas sector
17 MIDSMALL HEALTH NSE:NIFTY_MIDSML_HLTH Midcap Healthcare
18 FIN EX-BANK NSE:NIFTY_FINSEREXBNK Financial (excluding banks)
19 NIFTY INFRA NSE:CNXINFRA Infrastructure
20 NIFTY ENERGY NSE:CNXENERGY Energy sector

🎨 DASHBOARD COMPONENTS EXPLAINED

Color Coding System

1. % Change Column

🟢 Green Positive % change (index up)
🔴 Red Negative % change (index down)
⚪ Gray No change (0%)

2. RSI Column

🔴 Red RSI > 70 (Overbought - potential reversal)
🟢 Green RSI < 30 (Oversold - potential bounce)
⚪ Gray RSI 30-70 (Neutral zone)

3. PDH/PDL Status

🟢 Above PDH Trading above previous day high (bullish breakout)
🔴 Below PDL Trading below previous day low (bearish breakdown)
🟠 In Range Trading between PDH and PDL (consolidation)

4. Trend Column (vs EMA200)

🟢 UP Price > EMA(200) - Long-term uptrend
🔴 DOWN Price < EMA(200) - Long-term downtrend

5. EMA Signal Column

BUY EMA(9) > EMA(15) - Short-term bullish momentum
SELL EMA(9) < EMA(15) - Short-term bearish momentum

6. VWAP Column

🟢 Green bg Price > VWAP (Institutional buying zone)
🔴 Red bg Price < VWAP (Institutional selling zone)

🎯 SIGNAL LOGIC & INTERPRETATION

Final Signal Generation

🔥 BUY Signal

All 4 conditions must be TRUE:

  1. ✅ Current Price > VWAP
  2. ✅ EMA(9) > EMA(15)
  3. ✅ Current Price > EMA(200)
  4. ✅ RSI < 70 (not overbought)

Interpretation: Strong bullish setup with multiple confirmations. Safe to go long.

Action: Consider buying sector index futures/options or stocks within this sector

❌ SELL Signal

All 4 conditions must be TRUE:

  1. ❌ Current Price < VWAP
  2. ❌ EMA(9) < EMA(15)
  3. ❌ Current Price < EMA(200)
  4. ❌ RSI > 30 (not oversold)

Interpretation: Strong bearish setup with multiple confirmations. High risk for longs.

Action: Consider shorting or staying out of this sector entirely

⚖️ NEUTRAL Signal

When: Conditions don't meet either BUY or SELL criteria (mixed signals)

Interpretation: No clear trend. Sector is consolidating or giving conflicting signals.

Action: Wait for clearer signals. Avoid new positions. If already in trade, manage actively.

Market Sentiment Bar (Bottom Row)

How It Works:

Counts all 20 sectors:
- BUY signals = Number of sectors showing 🔥 BUY
- SELL signals = Number of sectors showing ❌ SELL  
- NEUTRAL signals = Remaining sectors

Overall Sentiment:
- BULLISH 🟢 = BUY count > SELL count
- BEARISH 🔴 = SELL count > BUY count
- NEUTRAL ⚖️ = BUY count = SELL count

How to Use Market Sentiment:

Scenario Signal Count Interpretation Action
Strong Bull Market BUY: 12-20
SELL: 0-5		 Market breadth very positive Aggressive long positions
Moderate Bull BUY: 8-12
SELL: 3-8		 Selective strength Long only strongest sectors
Balanced Market BUY: 6-8
SELL: 6-8		 No clear direction Range trading, careful position sizing
Moderate Bear BUY: 3-8
SELL: 8-12		 Selective weakness Short weakest sectors, defensive stance
Strong Bear Market BUY: 0-5
SELL: 12-20		 Market breadth very negative Reduce exposure, go to cash or hedge

📈 CHART INDICATORS EXPLAINED

1. EMA (Exponential Moving Average)

EMA 9 (Fast Line - Green)

EMA 15 (Slow Line - Red)

EMA 200 (Major Trend - Dynamic Color)

2. VWAP (Volume Weighted Average Price)

3. Background Color Indicator

Color Conditions Meaning
Light Green Price > EMA200 AND EMA9 > EMA15 Strong bullish environment
Light Red Price < EMA200 AND EMA9 < EMA15 Strong bearish environment
Light Yellow Mixed signals Neutral/Consolidation phase

4. Crossover Labels

🚀 BUY Label

Appears when: EMA9 crosses above EMA15 (golden cross)

Position: Below the price bar

Meaning: Short-term momentum turning bullish

Action: Consider long positions or hold existing longs

🔻 SELL Label

Appears when: EMA9 crosses below EMA15 (death cross)

Position: Above the price bar

Meaning: Short-term momentum turning bearish

Action: Consider exiting longs or taking short positions

⚙️ SETTINGS & CUSTOMIZATION

Dashboard Size Options

Size Best For Screen Type
Tiny Maximum chart space Small screens, mobile
Small (Default) Balanced view Laptop, standard monitors
Normal Easy readability Large monitors
Large Maximum visibility Ultra-wide monitors, presentations

Color Theme Customization

Element Default Color Purpose
Bullish Color RGB(0, 200, 83) - Green Positive signals, uptrends
Bearish Color RGB(255, 82, 82) - Red Negative signals, downtrends
Neutral Color RGB(255, 193, 7) - Yellow Mixed signals, consolidation

How to Change Colors:

  1. Click on indicator settings (gear icon ⚙️)
  2. Go to "Inputs" tab
  3. Find color options (Bullish Color, Bearish Color, Neutral Color)
  4. Click on color box to open color picker
  5. Select your preferred color
  6. Click "OK" to apply

Changing Sector Symbols

Advanced Feature: You can replace any of the 20 indices with different NSE symbols

Steps:

  1. Go to indicator settings → Inputs tab
  2. Find the symbol you want to change (e.g., "1. NIFTY 50")
  3. Click on the symbol field
  4. Search for new NSE index/stock
  5. Select and click OK

Example: Replace "NIFTY MEDIA" with "NIFTY MIDCAP 50"

📊 TRADING STRATEGIES

Strategy 1: Sector Rotation Trading

Concept:

Money flows from weak sectors to strong sectors. Identify and ride the strong sectors.

Setup:

  1. Check market sentiment bar - should be BULLISH or NEUTRAL
  2. Identify sectors with 🔥 BUY signal
  3. Among BUY signals, choose sectors with:
    • Highest % change (strongest momentum)
    • "Above PDH" status (breakout)
    • RSI not overbought (<70)

Execution:

Example:

If NIFTY IT shows: BUY signal, +2.5%, Above PDH, RSI 55 → Strong candidate for long

Strategy 2: Market Breadth Confirmation

Concept:

Don't fight the overall market. Trade in direction of majority sectors.

Rules:

Bullish Market BUY ≥ 10 sectors Only take LONG positions
Bearish Market SELL ≥ 10 sectors Only take SHORT positions or stay cash
Neutral Market BUY ≈ SELL (6-8 each) Trade cautiously, smaller positions

Application:

Strategy 3: Index Options Trading

For NIFTY, BANKNIFTY, FINNIFTY Options:

Call Options (Bullish Play):

Enter when:

Strike Selection: ATM or slightly OTM for swing trades

Put Options (Bearish Play):

Enter when:

Strike Selection: ATM or slightly OTM

Risk Management:

Strategy 4: Divergence Trading

Concept:

When related sectors give opposite signals, opportunities arise.

Example Pairs:

Strategy 5: Breakout Confirmation

Setup:

Look for sectors showing multiple bullish confirmations

Perfect Breakout Signal:

  1. ✅ Status = "Above PDH" (breakout)
  2. ✅ Signal = 🔥 BUY
  3. ✅ % Change = Positive (2%+)
  4. ✅ Trend = 🟢 UP
  5. ✅ Chart background = Light Green

Entry:

When all 5 conditions align on a sector

Exit:

Risk-Reward:

Target: 2-5% move | Stop: Below PDL (-1 to -2%)

🔧 TECHNICAL SPECIFICATIONS

Code Details

Script Version Pine Script v5
Indicator Name Sectoral Dashboard Version 1.0
Overlay Yes (displays on main chart)
Max Labels 500
Table Size 9 columns × 23 rows
Security Calls 40 (2 per sector × 20 sectors)
License Mozilla Public License 2.0

Performance Metrics

Metric Value Notes
Data Source NSE India National Stock Exchange
Update Frequency Real-time Every candle close
Timeframes Supported All 1m to 1M
Historical Data Depends on TradingView subscription Free = Limited, Pro+ = Full
Calculation Speed Fast Optimized security calls

Limitations & Constraints

⚠️ Important Limitations:

  1. Security Call Limit: Maximum 40 calls per indicator (TradingView limit)
    • Current usage: 40/40 (2 per sector)
    • Cannot add more sectors without removing existing ones
  2. Real-time Data: Depends on TradingView data feed
    • Delays possible during high volatility
    • Pre-market/after-hours may show "n/a"
  3. Previous Day Data: Uses daily timeframe data
    • PDH/PDL based on previous trading day
    • Not intraday previous session
  4. Subscription Limits:
    • Free users: 3 indicators per chart
    • Pro users: 5-25 indicators (plan dependent)

Browser & Platform Compatibility

TradingView Web ✅ Fully Supported
TradingView Desktop ✅ Fully Supported
TradingView Mobile ✅ Supported (use Tiny/Small size)
Chrome/Edge ✅ Recommended
Firefox/Safari ✅ Supported

❓ FREQUENTLY ASKED QUESTIONS

General Questions

Q1: Which timeframe is best for this dashboard?

A: Depends on your trading style:

Recommendation: Start with 15-minute for learning

Q2: Can I use this for stock trading?

A: Yes! Two ways:

  1. Sector Selection: Identify strong sectors, then pick best stocks from those sectors
  2. Symbol Modification: Replace sector indices with individual stocks in settings (advanced)

Example: If NIFTY IT shows BUY → Look for longs in TCS, INFY, WIPRO, etc.

Q3: Why do some cells show "n/a"?

A: Common reasons:

Solution: Wait for market hours, refresh page, or check internet connection

Technical Questions

Q4: How often does the dashboard update?

A: Real-time on every candle close based on your selected timeframe

Note: Data refreshes automatically, no manual refresh needed

Q5: Can I add more than 20 sectors?

A: No, due to TradingView's 40 security call limit

Current setup: 2 calls per sector × 20 sectors = 40 calls (maximum)

Alternative: Create a second instance of the indicator with different sectors

Q6: What's the difference between EMA signal and Final signal?

A:

Final Signal is more reliable as it requires multiple confirmations

Trading Questions

Q7: Should I follow all BUY signals blindly?

A: NO! Never trade blindly. Always use:

This dashboard is a TOOL, not a guaranteed profit machine

Q8: What's the success rate of these signals?

A: No indicator has a guaranteed win rate. Success depends on:

ALWAYS backtest and paper trade first before risking real money

Q9: Can I use this for options trading?

A: Yes! Very effective for:

Remember: Options have time decay (theta), so timing is crucial

Q10: How do I handle conflicting signals?

A: When signals conflict:

  1. Give more weight to Final Signal (most comprehensive)
  2. Check market sentiment bar for overall bias
  3. Look at longer timeframe for direction
  4. When in doubt, stay out - there's always another trade

⚠️ RISK DISCLAIMER

🚨 IMPORTANT - PLEASE READ CAREFULLY 🚨

1. Not Financial Advice

This indicator and documentation are for educational and informational purposes ONLY. Nothing here should be considered as financial, investment, or trading advice. Always consult a qualified financial advisor before making any investment decisions.

2. Trading Risks

Trading in stocks, derivatives, and indices involves SUBSTANTIAL RISK of loss and is not suitable for all investors. You could lose all or more than your initial investment. Key risks include:

3. No Performance Guarantee

Past performance does NOT guarantee future results. Signals shown by this indicator:

4. Do Your Own Research (DYOR)

ALWAYS conduct your own independent analysis before making any trading decision. Consider:

5. Mandatory Risk Management

NEVER trade without proper risk management:

6. Backtest Before Live Trading

Before risking real money:

  1. Backtest strategies on historical data
  2. Paper trade (practice mode) for at least 1-2 months
  3. Start with small position sizes
  4. Gradually increase size only if consistently profitable

7. Market Condition Dependency

Indicator performance varies significantly with market conditions:

8. Technical Limitations

9. No Liability

The developer (© ashishmishraahc) and documentation creator accept NO responsibility or liability for: