congestion final1 by saurabh maggo

Title: Indian Market Congestion Indicator

Description:

The Indian Market Congestion Indicator is a powerful tool designed for traders in the Indian stock market, specifically tailored for indices like BANKNIFTY on a 5-minute chart. This indicator identifies periods of price congestion—where the market is consolidating within a tight range—and detects potential breakouts or breakdowns, helping you spot high-probability trading opportunities during the NSE session (9:15 AM–3:30 PM IST).

Key Features:

Congestion Detection: Identifies consolidation zones based on price range, ATR (Average True Range), volume, and RSI filters. A blue background or table cell indicates a congestion period.

Breakout/Breakdown Signals: Detects breakouts (green) and breakdowns (red) from congestion zones, confirmed by volume spikes, price movement, and volatility filters.

Post-Congestion and Pullback Detection: Highlights post-congestion periods (yellow) and pullback entries (purple) after breakouts/breakdowns for safer trade entries.

Customizable Colors: Adjust the colors and transparency for each state (Congestion, Breakout Up, Breakdown, Post-Congestion, Pullback) directly in the settings panel, allowing you to fine-tune visibility for both background and table displays.

State Table: Displays the current market state in a table at the top-right corner, with trend direction (light green/red) if the trend filter is enabled.

Advanced Filters: Includes optional filters like RSI, volume, volatility (ATR), trend, and momentum (MACD) to reduce false signals and improve accuracy.

Session and Timeframe Support: Designed for the NSE session, with options to show indicators only for the current day and adjust parameters for different timeframes.

Alerts: Set up alerts for congestion, breakouts, and breakdowns, with enhanced alert messages providing context like breakout level, volatility, and trend.