Full Candle Outside BB [Bishnu103] — Strategy by Bishnu103
By Bishnu103
Performance Metrics
- Author: Bishnu103
- Symbol: NSE:DRREDDY
- Timeframe: 15 minutes
- Net P&L: +2,104.95 NONE (+2.10%)
- Win Rate: 57.7%
- Profit Factor: 3.02
- Max Drawdown: 255.10 NONE (0.25%)
- Total Trades: 26
- Sharpe Ratio: 0.228
Description
Mar 13, 2020Bollinger band defines volatility range based on the current market condition. If a full candle is created outside BB then it is highly volatile and it may reverse to the mean, i.e. middle BB. Buy - when a green candle is created below lower BB (alert candle) and price goes above high of it.Buy SL - low of alert candleTarget 1 - middle band Target 2- upper bandSell - when a red candle is cerated above upper BB (alert candle) and price goes below low of itSell SL - high of alert candle Target 1 - middle band Target 2 - lower band************************************************************************************************************************************************************************************Disclaimer: This is in-progress strategy. I plan to work further and improve this. So please use this in the live market very carefully and based on your own risk factors.************************************************************************************************************************************************************************************Mar 14, 2020Release NotesThere was an issue with intraday exit feature due to which it was not working on timeframes other than 15 min. Now it is resolved. It should work fine now for minutes and hourly timeframes if exit intraday option is marked.Mar 18, 2020Release Notes1. Added a control "Risk Limit (%)" to limit entries if SL is more than the defined risk %. 2. Fixed an issue with the control to define "Entry Distance From Alert".3. Fixed an issue which was causing multiple exists due to pending orders not being cancelled. Upcoming feature:1. Improved exit rule - 50% quantity will exit at middle band and remaining 50% will exit at upper/ lower band.Apr 18, 2020Release NotesExit enhanced - 1. Target options given - (a) BB - 50% quantity will be booked at middle BB and rest of it will be booked at outer BB. (b) Profit % - A target percenage mentioned in the box "Profit %" will be used to exit the full trade.Happy trading!