This strategy allows manual plotting of key support and resistance (SR or Pivot) levels in any timeframe (e.g 15 min, 1H, D etc) before market open or at any time.
Then the chart timeframe can be lowered (e.g 3 min or 5 min) and an alert created to take entries in that timeframe when the previously marked SR/Pivot levels are broken on the upside or downside (subject to certain entry filter criteria).
It allows you to set a fixed SL in points and Target calculated based on SL points x RR multiple.
It also trails automatically with a TSL to lock profit or reduce SL as the trade moves in your favour.
Then the chart timeframe can be lowered (e.g 3 min or 5 min) and an alert created to take entries in that timeframe when the previously marked SR/Pivot levels are broken on the upside or downside (subject to certain entry filter criteria).
It allows you to set a fixed SL in points and Target calculated based on SL points x RR multiple.
It also trails automatically with a TSL to lock profit or reduce SL as the trade moves in your favour.
Versionsinformation:
SL/Target formatting changes
Versionsinformation:
- Added at cost tsl after half target
- Added supertrend TSL after half target
- Added momentum TSL after x number of momentum moves
- Performance improved by ~50% and drawdown reduced by ~50% vs previous version
Versionsinformation:
TSL improvements and fixes
Versionsinformation:
- Fixed bug with Short initial stoploss which was introduced during previous TSL optimization
- Defaulted the {{close}} price in alert templates to show entry/exit price in default alert messages
Versionsinformation:
- Fixed deprecation warnings
- Updated defaults to defaults for Nifty for faster daily deployment
Versionsinformation:
Reduced default RR to 2.5 to make it reasonable
Versionsinformation:
- Visual improvements - Levels are now dashed lines
- TSL optimization