iamskrv

Sandy_ATPM

After 2 PM Breakout or Breakdown Intraday

This takes high and low of the session up to 2 PM IST and decides the Long or Short.

#Let the index/stock trade for the first 285 minutes and then use the high and low of this "285-minute range" as support and resistance levels.
#A buy signal is given when price exceeds the high of the 285-minute range after an up gap.
#A sell signal is given when price moves below the low of the 285-minute range after a down gap.
#It's a simple technique that works like a charm in many cases with proper risk management

>If you use this technique, though, a few caveats are in order to avoid whipsaws and other market traps.
>You will be Completely out from morning noise
>A breakout that extends only a tick or two can be easily reversed and trap you in a sudden loss.
>So let others take the bait at these levels, while you find pullbacks and narrow range bars for trade execution.

Protected script
This script is published closed-source and you may use it freely. You can favorite it to use it on a chart. You cannot view or modify its source code.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

Want to use this script on a chart?