SUPPORT RESISTANCE STRATEGY [5MIN TF] by The_Algo_Engineer
By The_Algo_Engineer
Performance Metrics
- Author: The_Algo_Engineer
- Symbol: NSE:TCS
- Timeframe: 5 minutes
- Net P&L: +30,182.50 NONE (+3.02%)
- Win Rate: 60.0%
- Profit Factor: 1.789
- Max Drawdown: 6,225.00 NONE (0.62%)
- Total Trades: 100
- Sharpe Ratio: 0.49
Description
A SUPPORT RESISTANCE BREAKOUT STRATEGY for 5 minute Time-Frame , that has the time condition for Indian MarketsThe Timing can be changed to fit other markets, scroll down to "TIME CONDITION" to know more.The commission is also included in the strategy .The basic idea is when ,1) Price crosses above Resistance Level ,indicated by Red Line, is a Long condition.2) Price crosses below Support Level ,indicated by Green Line , is a Short condition.3) Candle high crosses above ema1, is a part of the Long condition .4) Candle low crosses below ema1, is a part of the Short condition .5) Volume Threshold is an added confirmation for long/short positions.6) Maximum Risk per trade for the intraday trade can be changed .7) Default qty size is set to 50 contracts , which can be changed under settings → properties → order size.8) ATR is used for trailing after entry, as mentioned in the inputs below.// ═════════════════════════//// ————————> INPUTS Length of Resistance / Support Levels.→ R_Bars ———————————> Length of Resistance / Support Levels.→ Volume Break ———————> Volume Breakout from range to confirm Long/Short position.→ Price Cross Ema —————> Added condition as explained above (3) and (4).→ ATR LONG —————————> ATR stoploss trail for Long positions.→ ATR SHORT ————————> ATR stoploss trail for Short positions.→ RISK ————————————> Maximum Risk per trade intraday.The strategy was back-tested on TCS ,the input values and the results are mentioned under "BACKTEST RESULTS" below.// ═════════════════════════ //// ————————> PROPERTIES 50 contracts , which can be changed underSettings↓Properties↓Order size// ═══════════════════════════════//// ————————> TIME CONDITION BACKTEST RESULTS ( 100 CLOSED TRADES ) 42) R_Bars —————————> 43) Volume Break ————> 54) Price Cross Ema ——> 1005) ATR LONG ——————> 2.46) ATR SHORT —————> 2.67) RISK —————————> 20008) Default qty size ——> 50TCSSave it to favorites.Apply it to your charts Now !!Thank You ☺TCS