Lot many indicators are made by thousands of traders all over the world, which give good or not so good signals.
Despite good signals, many times we end up in loss because we could not take entry or could not exit at appropriate time-point.
Sometimes even winning position also comes into loss if market takes back whatever you gained till a certain point.
Also, there are professional, office going people who can not take trades on their own during office-hours.
To solve all these problems, you need an automated strategy which could take trades, trail your stop loss up and exit when stop loss gets hit.
Strategy also lets you know how a certain formula performed over a period of time.
How this strategy works?
The strategy generates trades with 02 type of formulas:
1. It seeks price breaking away from support/resistance (up or down) which is calculated with the help of automatically detected pivot points.
2. It seeks reversal based upon RSI and Price Action.
If there are no open positions right now and a Buy/Sell signal comes, 1 lot is bought or sold.
This position is closed when either Stop Loss gets hit or when opposite signal comes.
What are other features of the strategy
1. You can set the session time when you want the strategy to take trades. For example, if you want to take trades only between 10:00 hrs and 14:00 hrs, that can be set in settings.
2. You can set up your own Stop Loss percentage, but the optimum value, as we found fit in backtesting, is set at 0.5%
3. There is a max. daily loss safeguard also which by default is set at 5%. It means if a series of losses happen during the day and your capital loss reaches this maximum loss value set by you, the strategy stops trading for that day.
4. There is an option to close all positions by End of Day. By default, this feature is disabled, but you can enable it if you don't want to carry forward your positions.
5. A label displayed at the last bar gives you cumulative profit or loss and daily profit/loss statistics.
Release Notes
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Updated code for better performance in following time frames, both for Nifty50 & Bank Nifty:
1 min. 3 min. 5 min. 10 min. & 15 min.
Release Notes
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Tweaked the code for performance enhancement.
Release Notes
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Improved visible look of the strategy and minor performance enhancements effected.
Release Notes
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Customized message format introduced which pops up when Alert() function gets triggerd.
This is helpful in auto-trading if you want to capture customized pop-up message to pass on to third party platforms.
There is also an option to Enter you API Key in indicator settings. This makes your messages unique and identifiable by your broker for execution.
Release Notes
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Fixed Repetitive message error.
Release Notes
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Fixed close condition for time frames other than 5 min and 15 minutes.
@pklaskar, Yes brother, it is paid.... it takes months of coding, testing, re-testing and then you produce such a strategy which gives good profit and people can verify the results with backtesting.. Such a hard work can not be given free of cost.
pklaskar
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@jellygill, thanks for the reply. How much you charge??
jellygill
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@pklaskar, for subscription plans and payment method, plz contact me through Tele.gram @jellygill
akhlakj
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Sir, it work on banknifty option, mean can I buy option buy using this strategy