Nifty & BN 2 Candle Theory Back Testing and Alert Notification — Strategy by abdullabashaa
By abdullabashaa
Performance Metrics
- Author: abdullabashaa
- Symbol: NSE:BANKNIFTY1!
- Timeframe: 3 minutes
- Net P&L: −2,701.25 NONE (−0.27%)
- Win Rate: 36.0%
- Profit Factor: 0.988
- Max Drawdown: 74,633.75 NONE (7.11%)
- Total Trades: 114
- Sharpe Ratio: −0.096
Description
Jun 5, 2022How To Initiate Long Trade-in Index Future/ Buy Call Options – 3 Min TF▪ If The Index Futures Trades Above The VWAP, the Following Parameters are Checked For 2 Candle Theory on the long side▪ RSI Trades Above 50 & Between 50-75/80▪ Volume Of 2 Consecutive Bars Is Above 50 K for BN & 125 K For Nifty▪ All the indicators (Parabolic SAR, Super Trend, VMA, VWAP) Below the Candles▪ When the above conditions are met enter In 3rd Candle, With 1st Candle High As SL How I Initiate Short Trade-In Index Future/ Buy Put Options – 3 Min TF▪ If The Index Futures Trades Below The VWAP, the Following Parameters are Checked For 2 Candle Theory on the short side▪ RSI Trades Below 40 & Between 40-25/20▪ Volume Of 2 Consecutive Bars Is Above 50 K for BN & 125 K For Nifty ▪ All the Indicators (Parabolic SAR, Super Trend, VMA, VWAP) Above The Candles ▪ When the above conditions are met enter In 3rd Candle, With 1st Candle High As SL The indicator checks the above and notifies to enter a long trade and short trade respectively. There is also volume cutoff and change in the volumes respectively, also non-trading times that can be set. Sep 23, 2022Release NotesNote - For Nifty Volume is. - 125000 and Bank Nifty - 50000 Please update in the settings to get better resultsUpdates on Golden Cross OverHow To Initiate Golden Cross Overs:Golden Crossover is a subvariant of the 2 candle trade setup. It is a method of knowing extreme Bullishness/Bearishness on an intraday basis. Identification of Golden Crossover In addition to 2 candle setup if the following condition is met then that particular condition is known as “Golden Crossover”Condition: Supertrend (10,2 settings on 3 min TF for BankNifty ) and VWMA (default) both simultaneously cross the VWAP in direction of trade.Desired Outcome: Whenever we see a Golden Crossover we expect the market to move powerfully in one particular direction. Thus you can deploy significant capital and carry your trades for a little more extended period.The indicator checks the above and notifies to enter a long trade and short trade respectively.There is also volume cutoff and change in the volumes respectively.Non-trading times can be avoided by setting the time mentionedVolume candle colour On/OffGolden cross overs highlighter can be changed