OHL trading strategy

[allu8995]

Hello everyone!
I came across a strategy for intraday where we take long trades when open=low and short trades when open=high.
Does this strategy work for nifty and banknifty?
I know the number of trades will be very less but less trades usually gives good accuracy.
So is this system tradable for nifty and banknifty?
Kindly give your views.

 

[vagar11]

Hello everyone!
I came across a strategy for intraday where we take long trades when open=low and short trades when open=high.
Does this strategy work for nifty and banknifty?
I know the number of trades will be very less but less trades usually gives good accuracy.
So is this system tradable for nifty and banknifty?
Kindly give your views.

I tested this, it doesn't work.

 

[vagar11]

Link here
http://www.traderji.com/general-trading-investing-chat/103370-nifty-analysis-2.html

 

[allu8995]

I tested it for 2015 and 2016 and it works well but it doesnt seem to be working in 2017. What might be the reason?

 

[vagar11]

I tested it for 2015 and 2016 and it works well but it doesnt seem to be working in 2017. What might be the reason?

NIFTY/BANKNIFTY ?

When do you take the entry, what was your stop loss.
When did u check open =low or open =high after 5 min or after 10 min.
I hope you are not checking at the end of day.

I will check it again.

 

[allu8995]

I tested it on IEOD data and checked for open=low after 5 min.
I kept stoploss at the day low when open=low and vice versa.