[VJ]Phoenix Force of PSAR +MACD +RSI — Strategy by vikris
By vikris
Performance Metrics
- Author: vikris
- Symbol: NSE:TATAMOTORS
- Timeframe: 5 minutes
- Net P&L: +1,296.05 NONE (+64.80%)
- Win Rate: 55.7%
- Profit Factor: 1.624
- Max Drawdown: 236.15 NONE (7.92%)
- Total Trades: 219
- Sharpe Ratio: 1.239
Description
This is a simple intraday strategy for working on Stocks or commodities based out on PSAR, MACD , RSI and chop index . You can modify the start time and end time based on your timezones. Session value should be from market start to the time you want to square-offImportant: The end time should be at least 2 minutes before the intraday square-off time set by your brokerComment below if you get good returnsStrategy: Entry Exits using PSAR and momentum and trend using MACD and RSI. A chop index is used as filteringIndicators used :Parabolic SAR is a technical indicator that is used to determine the price direction of stocks and it also draws attention to the traders when the price is changing PSAR helps you:Identify when a certain price trend is going to change directionIndicate the most effective level at which to enter into the tradeIndicate the most effective exit point for the tradeMoving average convergence divergence (MACD) is a trend-following momentum indicator that shows the relationship between two moving averages of a security's price. ... Traders may buy the security when the MACD crosses above its signal line and sell—or short—the security when the MACD crosses below the signal lineRSI is intended to chart the current and historical strength or weakness of a stock or market based on the closing prices of a recent trading period.Buying/SellingWhen trading with the parabolic SAR, you would buy a market when the dots move below the current asset price and are green in colour. Alternatively, you would sell a market when the dots move above the current asset price and are red in colour. We use MACD , RSI to ensure that a right trade is picked when PSAR gives an indication. CI is used to stay away from the range bound market as much as possible.Usage & Best setting :Choose a good volatile stock and a time frame - 5m.MA length : 200RSI threshold : 50 MACD: 12,26,9There is stop loss and take profit that can be used to optimise your tradeThe template also includes daily square off based on your time.