we can see the and signals like Buy/Sell - 5 min candle (Intraday trading)
we can see the formed with two colors(Red or Green). If the color change from red to green then buy signal will generate with green color label with "Buy" text once see the buy signal then go for long in the next candle open.
If the color change from green to red then sell signal will generate with red color label with "Sell" text once see the sell signal then go for short in the next candle open.
How does it work?
buy - Take the buy order in the next candle open after Buy signal and book profit when signal change to sell( color changes from green to red)
sell - Take the sell order in the next candle open after Sell signal and book profit when signal change to buy( color changes from red to green)
What are the signals?
Yes it will generate the buy/sell signals in the live market
these signal will plot Green color label with "Buy"/Red color label with "Sell" based on signal.
Can we set the Alert on this?
Yes, we can set the alert based on the signals
Two custom alerts - NKP Buy , NKP 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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