The strategy works best on 5 min timeframe. The results may very different depending upon time-frame and date range of your choice.
The default trading quantity is 2. I have added functionality for part profit booking which increase profit and always keeps you in trade.
I have tested this indicator on 5 minutes time-frame on National Stock of Exchange(India) which gives good results and the time period is almost 6 months.
Period : 20/08/2019 to 06/03/2020.
Points = 1244.
No. of trades = 78
Profit Factor = 2.497
Sharpe Ratio = 0.025
It is non-repainting indicator and uses @version=4.
For free trial, send me a private message in order to access this script as this Invite Only script.
Thanks © allanster for Date Range functionality script.
Disclaimer: This script/strategy is for educational and information purpose only. The author of this script/strategy will not accept any liability for loss or damage as a result of reliance on the information contained in the charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets.