OPEN-SOURCE SCRIPT
Nifty & BN 2 Candle Theory Back Testing and Alert Notification
Aktualisiert
How 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.
▪ 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.
Versionshinweise
Note - For Nifty Volume is. - 125000 and Bank Nifty - 50000 Please update in the settings to get better resultsUpdates on Golden Cross Over
How 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 mentioned
Volume candle colour On/Off
Golden cross overs highlighter can be changed
Open-source Skript
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