OPEN-SOURCE SCRIPT
Prem_0915_5mins_strategy
This is the strategy which is worked out in 5 min TF. This should be applied only on Indexes (e.g., Nifty 50, BankNifty, etc.). This should strictly NOT be used for stocks and other F&Os. This is just for an educational purpose. Do not follow the strategy as such. Analyse before using every strategy and every investment.
Step 1: The candle should breakout and close beyond the high line (or The candle should breakdown and close below to the the low line)
Step 2: Enter at the next candle after the breakout (for CE) or breakdown (for PE)
Step 3: SL should be the low of the previous candle under the highline (or above the low line) but within the range
Step 4: Apply for 1:1 RR ratio and quit for safer profit.
Step 1: The candle should breakout and close beyond the high line (or The candle should breakdown and close below to the the low line)
Step 2: Enter at the next candle after the breakout (for CE) or breakdown (for PE)
Step 3: SL should be the low of the previous candle under the highline (or above the low line) but within the range
Step 4: Apply for 1:1 RR ratio and quit for safer profit.
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