Refined Supertrend ATR + TSL + Filters [Nifty/BankNifty] V2 — Strategy by vimalboiling
By vimalboiling
Performance Metrics
- Author: vimalboiling
- Symbol: NSE:NIFTY
- Timeframe: 15 minutes
- Net P&L: +8,225.00 INR (+0.82%)
- Win Rate: 78.5%
- Profit Factor: 1.735
- Max Drawdown: 3,538.75 INR (0.35%)
- Total Trades: 214
Description
This is a trend-following strategy built for Nifty 50 and Bank Nifty (and similar Indian index futures/options), designed to capture strong trending moves while using multiple layers of risk management.Core IdeaIt uses the Supertrend indicator as the primary trend detection and trailing mechanism, enhanced with:Trend confirmation filtersMulti-level profit takingDynamic trailing stop (TSL)Breakeven protectionEntry RulesLong Entry:Price crosses above the Supertrend lineOptional Filters:Price is above 200 EMA (if enabled)ADX > 20 (trend strength filter, if enabled)Trade only during Indian market hours (9:15–15:30 IST) if session filter is onLongs disabled if "Short Only" mode is activeShort Entry:Price crosses below the Supertrend lineSame filters as above (price below 200 EMA + ADX > 20)Shorts disabled if "Long Only" mode is activeExit Rules (Risk Management)The strategy uses a hybrid exit system:Multi-Level Take Profit (Partial Scaling Out)40% of position closed at 1.5 × ATR profit30% of position closed at 3.0 × ATR profit30% of position closed at 5.0 × ATR profitTrailing Stop (Dynamic)Supertrend line acts as the base trailing stopExtra ATR Trailing Stop (custom TSL): Tightens the stop to Close - 2.0 × ATR (default) as price moves in favorThe stop is the higher of Supertrend and the custom ATR TSL (for longs)BreakevenOnce price reaches 1.5 × ATR in profit, the stop moves to entry price (locks in breakeven)This combination allows the strategy to:Book partial profits earlyLet winners run with a trailing stopProtect capital with breakevenKey Settings & FiltersFeature Default Purpose Supertrend ATR Length10 Sensitivity of trend Supertrend Factor 3.0 Distance of band200 EMA Filter Enabled Trade only in direction of major trend ADX Filter Enabled Avoid choppy/sideways markets Extra ATR TSL2.0Tight trailing stopBreakeven1.5 ATR Move to breakeven Position Size10% equity Risk per trade Commission0.04% Realistic for Indian brokersVisual ElementsGreen/Red Supertrend line (main trend indicator)Orange 200 EMAPurple ADX in separate paneBackground coloring (light green/red) when both Supertrend + EMA agreeEntry labels ("LONG"/"SHORT")Best Use CaseNifty 50 & Bank Nifty futures/optionsTrending market conditions (works poorly in sideways/choppy markets — hence the ADX filter)Intraday or short swing tradesWorks on 5-minute to 15-minute timeframes typically.