Trading View Strategy of BANKNIFTY
Budget: ₹600 – ₹1,500 INR
Need to develop a Trading View Strategy of BANKNIFTY
1. Take a high low of 2:20 candle, and add 10 point of buffer in both high and low. ( 5 min timeframe, can be adjusted as per chosen time frame)
2. If High and low are near to 500 or 1000 like ( 41500 or 42000) then high will be 41522 or 42033 and low will be 41470 or 41970.
3. Take trade in at breakout/breakdown of 2:20 candle ( including buffer). Buy if goes above 2:20 candle, sell if goes below 2:20 candle.
4. Exit at 1:2 risk reward ratio. ( reward will be minimum 50 points or 1:2 risk reward i.e. if reward is greater than 50 point will take reward calculation or minimum 50 points )
5. Buffer will be used in taking trade and well as SL.
Example:
High of 2:20 candle : 43039
Low: 43041
Add buffer of 10 point
New high = 43049
New Low = 43031
take buy call if price goes above 43049, SL 43031, target will be minimum 50 points as Risk:Reward ratio is giving less than 50 points return.
1. Take a high low of 2:20 candle, and add 10 point of buffer in both high and low. ( 5 min timeframe, can be adjusted as per chosen time frame)
2. If High and low are near to 500 or 1000 like ( 41500 or 42000) then high will be 41522 or 42033 and low will be 41470 or 41970.
3. Take trade in at breakout/breakdown of 2:20 candle ( including buffer). Buy if goes above 2:20 candle, sell if goes below 2:20 candle.
4. Exit at 1:2 risk reward ratio. ( reward will be minimum 50 points or 1:2 risk reward i.e. if reward is greater than 50 point will take reward calculation or minimum 50 points )
5. Buffer will be used in taking trade and well as SL.
Example:
High of 2:20 candle : 43039
Low: 43041
Add buffer of 10 point
New high = 43049
New Low = 43031
take buy call if price goes above 43049, SL 43031, target will be minimum 50 points as Risk:Reward ratio is giving less than 50 points return.
Related categories:
Pine Script