Rishabh4

GAP by Rishabh4

114 views
6
This strategy is based on Gap's and is purely INTRADAY. So capital requirement is based on 1LOT NRML trade margin.

Entry Condition=
Previous day high and low are marked based on daily timeframes.
This strategy is back tested on 15min timeframe and is coded solely for BANKNIFTY . So conditions are set accordingly.
If 15min Open > Previous day high , SHORT "BANKNIFTY" on closing of first 15MIN candle.
If 15min Open < Previous day low , BUY "BANKNIFTY" on closing of first 15MIN candle.

Exit Conditions=
Exit criteria is based on time (MIS order auto square off type)(intraday). So as if trade is took at 15 min timeframe. Exit is at 15:00- 15:15 candle.
Exit criteria don't have Stop-loss or Target. Will be adding in upcoming update.

Note:= Strategy's values(capital, slippage) and Square off Time can be changed by tweaking some values on Square OFF time in settings.
eg: IF tested on 5min TF. EXIT time= 15:10-15:15
IF tested on 30min TF. EXIT time = 14:30-15:00
IF tested on 1hr TF. EXIT time = 14:00-15:00
Release Notes: This is updated version, Following features have been added.
1. SL level
2. TP level

Note:- Exit criteria have been updated now exit can be done using Squareoff time or SL or Target. You can set SL and Target value from settings.
Release Notes: Updated previous version. Rectified Sl level.
Previous version had error on Short SL level.
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.
Want to use this script on a chart?

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter