First let us have a look at a Daily Nifty Chart with 150 candles for Period ending 31/12/2014 :
With reference to red rectangular marked in the above Chart, I had prepared a TF 75 minutes for the period from 19/11/2014 to 31/12/2014. Data based on TF 15 minutes were used ; from a batch of 5 candles, opening of 1st candle & closing of 5th candle were taken as opening & closing of TF 75 ;
maximum of high of all candles was taken to be high & similarly minimum was taken to be low. Resultant chart was prepared through Excel
Simple moving average of closing were determined for SMA_5 & SMA_34 & finally histogram were prepared with Excel. Charts followed :
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