Sensex Institutional Level Breakout (500-Point Grids) — Strategy by money-alchemist

By money-alchemist

Performance Metrics

Description

OverviewThis strategy is designed specifically for the BSE Sensex intraday volatility. It leverages the psychological importance of "Round Numbers" (multiples of 500) to identify institutional supply and demand zones after the initial morning volatility settles.How it WorksThe 9:45 AM Snapshot: The script ignores the first 30 minutes of "noise." At 9:45 AM, it identifies the nearest 500-point round numbers above and below the current price (e.g., if Sensex is at 73,320, it marks 73,500 and 73,000).The Entry Logic: * Bullish: Triggers when a 5-minute candle closes below the upper 500-point line (anticipating a liquidity grab or "fake-out" reversal).Bearish: Triggers when a 5-minute candle closes below the lower 500-point line.Exit Strategy:Target: A fixed profit-taking level at the next 500-point increment (e.g., if entering at 73,500, the target is 74,000).Initial Stop Loss: Fixed at 100 points from entry.Risk Management (The 200-Point Rule): To protect capital, the Stop Loss automatically moves to Break-Even (Entry Price) once the trade moves 200 points in your favor. This "single-step" trail ensures you don't turn a winning trade into a loser during mid-day reversals.FeaturesIntraday Only: Automatically squares off all positions at 3:25 PM IST to avoid overnight gap risk.Visual Levels: Clear plotting of Entry Levels, Profit Targets, and the active Stop Loss on the chart.Customizable: Users can adjust the round-number increment (e.g., 100, 250, 1000) and the trailing trigger points via the settings menu.Best Used OnTimeframe: 5-Minute (M5).Instrument: SENSEX / BSN.Note: This is a Mean Reversion / Liquidity Grab style strategy since it triggers on a close below the upper level for a long.

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