PriceCatch Bank FD Return Level

21 thg 1, 2022

Hi Tradingview community.

This script would be of interest to those trading Indian stocks in NSE/BSE. It is an open-source script with a simple mandate.

ESTIMATE:

• At what price will your long trade yield a return equal to the selected bank's fixed deposit interest rate (1 year).
  
• It will help you to estimate your probable target and whether the set target is at least returning selected bank's fixed deposit interest rate.
  

USAGE:
Pretty simple. Enter the rate at which you have taken the long entry or drag the price line, any which way. Select the bank whose interest rate you want to calculate the return rate with. Once done, the script will draw a line and give you the price where the return would match the selected bank's fixed deposit interest rate. Then you may manually draw a line at that price level and disable the script.

WHY TO DISABLE?
As the script draws the level on the basis of a particular chosen stock, the line would be irrelevant when you change the instrument. Think of the script as helping you to quickly find the return yield for a specific long trade. Once you know it, no need to keep the script active.

IN THE CHART:
The chart shows that on TVS Motor, a trade taken at 624.65 would have to go up to 658.40 to give State Bank of India's FD interest rate of 5.40 p.a.

Feel free to use and contact if you have any queries/feedback.

All the best with your trading.
PriceCatch