Strategy
We look for subsequent Two Green/White candle for Long & Two Red/Black candle for Short.
Rule:
1). The Second candle of the same color should not touch 50% of the previous candle.
2). When the condition (1) is met we place buy or sell order at the high/low of the second candle.
Target/Exit :
In case of Buy : 50% from the 1st candle Low and 2nd Candle High (Low-High/2) from the Buy price
In case of Sell : 50% from the 1st candle High and 2nd Candle Low (High-Low/2) from the Sell price
Stop Loss
In case of Buy: Target price difference less from the High price
In case of Sell: Target price difference plus from the Low Price
Applicability of Scrips: This strategy can be applied in all the Scrips, Futures, Options, Commodities. But better to avoid penny stocks/scrips
Applicability of Time frame: Can be applied in EOD, Hourly & any Time frame
The above Rules of Entry, Target & Exit will be confusing but I will explain through posting charts.
Cheers
Karthik
We look for subsequent Two Green/White candle for Long & Two Red/Black candle for Short.
Rule:
1). The Second candle of the same color should not touch 50% of the previous candle.
2). When the condition (1) is met we place buy or sell order at the high/low of the second candle.
Target/Exit :
In case of Buy : 50% from the 1st candle Low and 2nd Candle High (Low-High/2) from the Buy price
In case of Sell : 50% from the 1st candle High and 2nd Candle Low (High-Low/2) from the Sell price
Stop Loss
In case of Buy: Target price difference less from the High price
In case of Sell: Target price difference plus from the Low Price
Applicability of Scrips: This strategy can be applied in all the Scrips, Futures, Options, Commodities. But better to avoid penny stocks/scrips
Applicability of Time frame: Can be applied in EOD, Hourly & any Time frame
The above Rules of Entry, Target & Exit will be confusing but I will explain through posting charts.
Cheers
Karthik
1 ) what we will do if order will not trigger in next immigate bar ???
2) still we will keep the order or we will cancel order ???
3) do we need bodied bar only or doji and doji + bodied bar such combination ???