A Day Trading (Intraday) Consolidation Breakout Indication Strategy that explains time condition for Indian Markets . The commission is also included in the strategy . The basic idea is ,
1) Price crosses above upper band , indicated by a color change (green) is the Long condition . 2) Price crosses below lower band , indicated by a color change (red) is the Short condition . 3) ATR is used for trailing after entry
// ═══════════════════════════════// // ————————> TIME CONDITION <————————— // // ═══════════════════════════════// The Indian Markets open at 9:15am and closes at 3:30pm. The time_condition specifies the time at which Entries should happen . "Close All" function closes all the trades at 2:57pm. All open trades get closed at 2:57pm , because some brokers dont allow you to place fresh intraday orders after 3pm. NSE:NIFTY1!
// ═══════════════════════════════════════════════ // // ————————> BACKTEST RESULTS ( 114 CLOSED TRADES )<————————— // // ═══════════════════════════════════════════════ // LENGTH , MULT (factor) and ATR can be changed for better backtest results. The strategy applied to NIFTY (3 min Time-Frame and contract size 5) gives us 60% profitability , as shown below It was tested for a period a 8 months with a Profit Factor of 2.2 , avg Trade of 6000Rs profit and Sharpe Ratio : 0.67 The graph has a Linear Curve with consistent profits. NSE:NIFTY1!
Save it favorites. Apply it to your charts Now !! Thank me later ;)
in line 81 //strategy.close_all(when = hour == 14 and minute == 57)
the function will not be useful, please correct it.
The_Algo_Engineer
⋅
@Raj_Sor, Hi, This Intraday strategy is used on a 3min time frame . As mentioned in the description , some brokers dont allow you to place new intraday orders after 3pm . If you dont require that function , you can make a copy and delete it . Thank you
The_Algo_Engineer
⋅
@Raj_Sor, You can try this input as well Lenght = 30 , Mult_stdev = 3 , ATR = 2 . Thank you
the function will not be useful, please correct it.