Impulse 7 Star

This script is build on the observation of Harsubh an Youtuber holding the channel named Impulse technical.

This is intraday based strategy and the time frame is on 5 minutes candle

This indicator indicates on one way momentum of a stock, If the body color becomes white then it indicates for sell signal, and if the body color is black then its buy signal.

this indicator tracks continuous 7 candles on same color.

If it generates Buy signal then find the highest high from last 7 candles and mark that candle.

If the price breaks the high of the marked candle then place a buy order

Stop Loss : Find the lowest low of the marked candle and its previous candle and place stoploss with 0.1% buffer

For Sell Side : Signal will be black body color of the candle

Sell Entry : Find the lowest low of the last 7 candles and mark that candle, if once the lowest low breaks then place an order and stoploss will be the highest high of the marked candle and its previous one with 0.1% buffer

If you dont know the target then hold the position till 15 minutes before closing the market