Intraday Consolidation Breakout ExplainedOK let's get started ,
A Day Trading (Intraday) Consolidation Breakout Indication Strategy that explains time condition for Indian Markets .
The commission is also included in the strategy .
The basic idea is ,
1) Price crosses above upper band , indicated by a color change (green) is the Long condition
2) Price crosses below lower band , indicated by a color change (red) is the Short condition
3) ATR is used for trailing after entry
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// ————————> TIME CONDITION <————————— //
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The Indian Markets open at 9:15am and closes at 3:30pm.
The time_condition specifies the time at which Entries should happen .
"Close All" function closes all the trades at 2:57pm.
All open trades get closed at 2:57pm , because some brokers dont allow you to place fresh intraday orders after 3pm .
NSE:NIFTY1!
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// ————————> BACKTEST RESULTS ( 114 CLOSED TRADES )<————————— //
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LENGTH , MULT (factor) and ATR can be changed for better backtest results .
The strategy applied to NIFTY ( 3 min Time-Frame and contract size 5) gives us 60% profitability , as shown below
It was tested for a period a 8 months with a Profit Factor of 2.2 , avg Trade of 6000Rs profit
Sharpe Ratio : 0.67
The graph has a Linear Curve with consistent profits.
NSE:NIFTY1!
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// ————————> INPUTS <————————— //
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For the Back-Tested results :
LENGTH ————————> 30
MULT_STDEV ——————> 3
ATR TRAIL ————————> 2
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Apply it to your charts Now !!
Thank me later ;)
