We all know the importance of Breakout strategy.
There has been many examples and ways in which people work on Breakout Strategy.
Some work on opening range breakout, some work on previous range breakout, some work on 30 min breakout, etc, etc.
I tried another way of breakout which is called 2 weeks Open High Low Breakout Technique.
This technique takes last 2 weeks open high low data and find the minimum difference between open high and low.
Based on this, we identify the average breakout points for Nifty and Bank Nifty.
These breakout points are then added and subtracted to initial 5 min price of Nifty and BankNifty giving us breakout levels in upside direction and breakout levels in downside direction.
On the similar lines, to ease the process of calculation, i programmed it and placed in a form of tool at the below link
This tool will just help to give daily readymade buy and sell levels in Nifty and BankNifty.
http://www.pivottrading.co.in/scanner/niftyBreakoutScanner.php
There is also a video tutorial on the same
https://www.youtube.com/watch?v=T0SX4k2viXo (in Hindi)
https://www.youtube.com/watch?v=ze68iqWmYMc (in English)
There has been many examples and ways in which people work on Breakout Strategy.
Some work on opening range breakout, some work on previous range breakout, some work on 30 min breakout, etc, etc.
I tried another way of breakout which is called 2 weeks Open High Low Breakout Technique.
This technique takes last 2 weeks open high low data and find the minimum difference between open high and low.
Based on this, we identify the average breakout points for Nifty and Bank Nifty.
These breakout points are then added and subtracted to initial 5 min price of Nifty and BankNifty giving us breakout levels in upside direction and breakout levels in downside direction.
On the similar lines, to ease the process of calculation, i programmed it and placed in a form of tool at the below link
This tool will just help to give daily readymade buy and sell levels in Nifty and BankNifty.
http://www.pivottrading.co.in/scanner/niftyBreakoutScanner.php
There is also a video tutorial on the same
https://www.youtube.com/watch?v=T0SX4k2viXo (in Hindi)
https://www.youtube.com/watch?v=ze68iqWmYMc (in English)