jellygill

Algo Trading (Nifty & BankNifty)

What is Algo Trading ( Nifty & Bank Nifty ) Indicator?

There are many 9 to 5 working professionals who have some spare money to invest each month but they can not do active trading because they are busy with their full time job.

So they wish to have an automated system which could take and close trades for them with a proven back-tested strategy, proper money management, ability to trade within particular timings, pre-defined maximum loss they can bear and so on.

This indicator facilities all such needs of working professionals.


How this indicator generates signals?

This indicator generates signals in 3 ways:

(a) Pricing action validated by Jump in Volume
(b) Moving Average Crossovers
(c) Zeta Force Signals as generated by our proprietary formula for Bank Nifty & Nifty

Once a threshold value is crossed, the Buy/Sell signal (LE & SE) appears on the chart and algo keeps track of the current state. Then this state is remembered for the loss or profit the trade is generating and position is closed either when loss crosses the set limit or when profitable trade starts receding.

What are the various features of this indicator?

(a) You can define your session timing i.e. the time period when you want your trades to be taken. For example: between 1000 hrs to 1330 hrs or so on.
(b) You can choose to close all positions by EOD . ( EOD is defined by the user. For example, if you set the session timing between 9:30 to 11:00 am, then indicator will not take any trades outside
this range).
(c) You can define the total loss you can bear during a particular day. For example, if total loss is 5% for the day, the algo stops taking further trades.
(d) You can set up either manual alerts for each event, for example Buy, Sell, Buy Close, Sell Close where you can customize the message you want to display or you can select the 'Any Alert()
function call' option which will generate pop up messages in TradeTron or Algoji friendly format. These signals can be routed to 3rd party platforms for execution. If you have TradeTron or
Algoji Account, you can enter your API key in algo settings, and after that the messages generated will contain your API Key by default.

What are the limitations of this indicator?

You can not make money with any indicator or algo if market is narrow range bound.
For you to make money, there must be a trend or mini-trend. Sometimes, price starts trending for a while and then reverses back. In such cases, multiple Stop Loss Hits might occur.

Can I use this for Option Trading also?

Deep in the money options behave like Futures only. So yes, you can use this algo for Options Trading by buying Deep in the money options.

Can I use this for trading in stocks or any other instrument?

No. The code has been hard-wired for Bank Nifty & Nifty (Indian Indices) only. A different, generic version of this algo is in the pipeline which can be used for Forex or Commodity and Stocks.

To avail FREE TRIAL for all our invite-only indicators, please contact us:

Telegram: @jellygill

Our Telegram Channel: @CheetaTrader

join to complete FREE TRAINING on how to use the indicators effectively and then request @jellygill for FREE TRIAL
仅限邀请脚本

仅限作者授权的用户访问此脚本,并且通常需要付费。您可以将其添加到收藏中,但是只有在向作者请求并获得许可之后,才能使用它。 请与jellygill联系以获取更多信息,或按照以下作者的说明进行操作。

在您100%信任脚本作者并了解脚本的工作原理之前,TradingView不建议您购买脚本并使用它。在很多情况下,您可以在我们的公共指标库中免费找到一个不错的开源替代品。

作者的说明

To get access to this algo (indicator), you may get in touch with us through our telegram handle @jellygill

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