IndianPivotBossPivotShiftThis Indicator has to be used as a censorship as under:
Do not go long (STRICTLY) when the following is observed:
(ie, either go short if any other indicator supports or do nothing)
a) If the histogram is lower than the previous histogram; in other words sloping downwards.
Do not go short (STRICTLY) when the following is observed:
(ie, either go long if any other indicator supports or do nothing)
a) If the histogram is higher than the previous histogram; in other words sloping upwards.
This can be used for intraday / swing / positional.
The histogram are constructed from combination of floor pivots. The histogram are different from Pivot based oscillators.
For intraday, select Daily from the parameters and use chart timeframe less than 15 min preferably.
For swing, select Weekly from the parameters and use chart timeframe more than 15 min preferably but less than daily charts.
For positional, select Monthly from the parameters and use daily time frame charts.
It is an effective indicator that potentially prevents you from taking wrong trades.
The computation mechanism of the indicator is confidential as it is proprietary.
Floorpivots
PivotIntradayStrategy@scorpiomanojFRMThis is an intraday trading strategy using Floor Pivots for BankNifty.
This strategy overlays on the charts with wide variety of drawing floor pivots and previous day levels.
VERY IMPORTANT :
1) LONGS AND SHORTS TO BE TAKEN IN 5 MIN CHART. 15 MIN CHART IS DISPLAYED BECAUSE TV DOESNT ALLOW TO PUBLISH WITH TF LESS THAN 15 MIN.
2) BACKTEST RESULTS ASSUME EXITS AT DAY CLOSE ONLY AND NOT BASED ON ANY OTHER CONDITIONS. HENCE ONCE LONG OR SHORT INITIATED IT IS SUGGESTED TO EXIT USING TRAILING STOP OR YOUR OWN RISK APPETITE. EVEN DAY CLOSE INTRADAY EXITS OFFERS A FAIRLY GOOD RESULT WITH ABOVE AVERAGE SUCCESS RATE AND PROFIT FACTOR IN EXCESS OF 1.75.
3) STRATEGY IS BASED ON COMBINATION OF PATTERNS INVOLVING DAILY PIVOTS AND PREV DAY LEVELS THAT IS FOUND TO REPEAT IN BANKNIFTY.
THE DETAILS OF THE STRATEGY IS CONFIDENTIAL.
4) THIS WILL BE AVAILABLE PUBLICLY ONLY FOR A LIMITED PERIOD. THIS LIMITED PERIOD AVAILABILITY IS TO TEST THE RESULTS AMONG VARIOUS PARTICIPANTS INORDER TO SEE THE CONSISTENCY.
YOU CAN REACH ME AT MY TWITTER ID scorpiomanojfrm or my email scorpiomanojfrm AT gmail DOT com
