Introducing new Technical Indicators on Dhan App, Web and TradingView

Technical Indicators are instrumental in identifying the trends, daily highs/lows and to predict future price movements. The bedrock of Technical Analysis are Technical Indicators, and hence helps many traders in making informed decisions.

On Dhan, there are more than 100+ technical indicators across all the platforms, but for a lot of users the preference differs. The inclusion of any technical indicator on our platforms is evaluated based on multiple parameters, with the demand from the users topping the list.

We are very glad to introduce you to the addition of a few more technical indicators to our platform. Below are all new indicators we have introduced and how it can help traders like you.

Comparative Relative Strength

Comparative Relative Strength (CRS) is used to compare a security against an index, or against another security. The comparison is used to show the relative performance to each other.

When the Relative Strength Comparison indicator is moving up, it shows that the security’s price is performing better than the base security/index in relative terms. When the indicator is moving sideways, it shows that both securities prices are rising and falling by the same percentages. When the indicator is moving down, it shows that the security’s price is performing worse than the base security/index in relative terms.

The Comparative Relative Strength indicator is calculated by dividing the base security’s price by the second security or index’s price. The result of this division is the ratio, or relationship, between the two securities.

For example,
RS= Stock’s Price / Index’s Price or
RS= Stock’s Price/ 2nd Stock’s Price
One should note that the period of both the assets should be the same such as one day or one year.

Anchored VWAP

VWAP is volume weighted average price. It is the average of prices rationalised by volume for a interval, session or day. Usually it starts with respect to the start of the day.

Anchored VWAP is volume weighted average price, customisable start date & time.

The formula to calculate VWAP is

VWAP = VWAP = ΣPrice x Volume / ΣVolume

Open Interest Indicator (coming soon)

We already have the Open Interest data on Option Chain in real time.This has no trail wrt to time. Now we have come with the Open Interest as Indicator for individual scrip. Here you will get a line chart plotted wrt time scale, corresponding to each candle above on the chart.

For an active contract, if we see
OI is increasing and Prices are also increasing. We can conclude that fresh longs are building up and the market is bullish.
OI decreasing & prices also decreasing, so Longs are unwinding. This is kind of squaring off the longs.
OI increasing & price decreasing, shorts are building up. Market can be bearish.
OI decreasing & price increasing, shorts are unwinding. Squaring off the shorts.

Update: Central Pivot Range

A highly requested request from our community members, we have now added previous Day High & Low.

We are continuously shipping out new features on all our platforms Dhan app, web.dhan.co, tv.dhan.co and Options Trader App. We hope that the addition of new technical indicators will help you in making informed decisions.

Happy Trading!

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6 Likes

Hey @shraddha ,

Even after hard refresh of the browser page, I’m unable to find the newly introduced open interest indicator. Can you please provide some guidance?

Is this new indicator also available on Dhan TV?

@shraddha
CRS, AVWAP,CPR,OI are fantastic features and would make really attractive to trade.
However I am not able to see OI indicator in the TV charts while others are showing.

Can you please share a screenshot of how to get there

Hi @amit @anilmm2005

These indicators are in beta version and not extended to everyone. Very soon we will roll out for everyone.

1 Like

Thanks @Naman , will be waiting for OI indicator.

:smiley:

Thanks @Naman for the update. Please look at feature request for adding alerts on trading view charts in index, stocks,etc

Hi @anilmm2005

Noted

Perhaps an option for lookback period for CPR indicator would be nice.

My whole chart seem cluttered… Whereas all i want is last 1 day CPR only…

Kindly consider added a lookback period or option for historial CPR check/uncheck box eith user define limit.

1 Like

Open intrest indicator will be helpful for options traders.

1 Like

Kindly update your comparative relative strength indicator to Static Relative Strength indicator.

Where it uses 6 month (123 Days) to calculate outperformance
And if RS line is above 0 on scale that means stock is outperformacing index.

Either make it a seperate indicator or update the existing one . its more superior and better.

If needed be i will be happy to share the code for same.

Perhaps you can even add a rating (scoring system) on RS line