NSE Index Strategy with Entry/Exit Markers by NewTrader1123
By NewTrader1123
Performance Metrics
- Author: NewTrader1123
- Symbol: NSE:NIFTY
- Timeframe: 1 day
- Net P&L: −3,691.74 INR (−3.69%)
- Win Rate: 44.2%
- Profit Factor: 0.679
- Max Drawdown: 4,094.86 INR (4.09%)
- Total Trades: 77
- Sharpe Ratio: −1.077
Description
Explanation of the CodeTrend Filter (200 SMA):The line trendSMA = ta.sma(close, smaPeriod) calculates the 200‑period simple moving average. By trading only when the current price is above this SMA (inUptrend = close > trendSMA), we aim to trade in the direction of the dominant trend.RSI Entry Signal:The RSI is calculated with rsiValue = ta.rsi(close, rsiPeriod). The script checks for an RSI crossover above the oversold threshold using ta.crossover(rsiValue, rsiOversold). This helps capture a potential reversal from a minor pullback in an uptrend.ATR-Based Exits:ATR is computed by atrValue = ta.atr(atrPeriod) and is used to set the stop loss and take profit levels:Stop Loss: stopLossPrice = close - atrMultiplier * atrValueTake Profit: takeProfitPrice = close + atrMultiplier * atrValueThis dynamic approach allows the exit levels to adjust according to the current market volatility.Risk and Money Management:The strategy uses a fixed percentage of equity (10% by default) for each trade. The built‑in commission parameter helps simulate real-world trading costs.