NKP Super V1 is an indicator. It will select the stocks based on strategy and plot the buy, sell and Stop loss lines in live market based on custom calculated information about entry points at price move above buy(green) line . When ever fresh candle open above/below the green/red line it the entry point based on sign.
we can see the Two SMA limes 10, 50 for identify the intraday trend. Buy/Sell - 5 min candle (Intraday trading)
we can see the green and red lines formed in the stock it means it was picked for intraday other wise done select the stock. (This indicator will pick the stock based on price action)
How does it work? buy - Take the buy order when the 5min candle open above green line sell - Take the sell order when the 5min candle open below red line
What are the signals? Yes it will not generate the buy/sell signals. it will lot green/red lines in the live market. Green line - BUY above this line RED Line - SELL below this line Orange Line - once taken the entry in any side based on signal blue line will be the stop loss for both signals. Blue line - Previous day High purple line - previous day low
Can we set the Alert on this? Yes, we can set the alert based on the signals Two custom alerts - NKP Super Buy , NKP Super Sell
IMPORTANT: this script does not generate exit signals and those should be find using money management rules or else. Perfectly catches long runs in trends at all underlings (stocks, indexes ) at 5 min time frame. Lower/High period gives more incorrect signals and shorter runs on below 5 min period , higher period gives you late entry and less. Of course it gives false signals from time to time but fortunately it makes a correction very fast.
Try it! Good luck and good trading!
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