NKP NF Scalper V1 is an indicator. It will work only on NSE - NIFTY Futures it was designed based on proven intraday strategy. It will plot buy / sell signal and SL line in live market based on custom calculated information about entry points at close of the candle. Buy/ Sell signal is the best entry point but you can enter at the next candle.
we can see signals like buy/sell/ - 3 min candle (Intraday trading)
if the buy signal came then go for long if sell signal came then go for short.
How does it work? buy - take the buy order in next candle open's stop loss will be at SL line sell - take the sell order in next candle open's stop loss will be sat SL line
What are the signals? Yes it will generate the buy/sell signals in the live market these signal will plot buy/sell labels based on signal.
Can we set the Alert on this? Yes, we can set the alert based on the signals Four custom alerts - NKP Buy , NKP Sell
How does it work? buy - Take the buy order when BUY signal came on the 3min candle sell - Take the sell order when SELL signal came on the 3min candle
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 3 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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