Aditya Banknifty-2 Indicator

20 Eki 2020

This indicator is designed for Banknifty which is traded on NSE(India). It works best in 1-M and 5-M time-frame. You can always experiment with any other time-frame with various combinations of settings.

Green Line- Buy Trigger Line
Red Line- Sell Trigger Line

Period: No. bars for look-back period.

Trade Trigger Type:
1. ATR Based – Trade will be initiated based on ATR values.

For 1M time-frame: Trigger ATR Bars=7
ATR Multiplier = 3.1
For 5M time-frame: Trigger ATR Bars=7
ATR Multiplier = 0.5

2. Fixed - – Trade will be initiated based on particular fixed value.
3. % of Close - Trade will be initiated based on % of Close of script.

Take Partial Profit: Whether to book partial or not.

Partial Profit Points: It always better to book partial profit after getting into the trade. We can book 1 quantity after our partial profit target is hit by making Order Size=2 and let the remaining quantity in the trade until the reversal of trend.

Disclaimer: This script/strategy is for educational purpose and individual use only. The author of this script/strategy will not accept any liability for loss or damage as a result of reliance on the information contained in the charts. Please be fully informed regarding the risks and costs associated with trading the financial markets.

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