SETUP 2
(DOUBLE SUPERTREND + PIVOT)
This is one of my oldest and strongest setups.
It's a pure trend following setup and will help you FILTER a LOT OF NON TRENDING DAYS by not giving you ANY SIGNAL on those days.
(1/n)
(DOUBLE SUPERTREND + PIVOT)
This is one of my oldest and strongest setups.
It's a pure trend following setup and will help you FILTER a LOT OF NON TRENDING DAYS by not giving you ANY SIGNAL on those days.
(1/n)
INDICATORS TO BE USED
1. SUPER TREND (10,3)
2. SUPER TREND (20,6)
3. STANDARD PIVOTS
(2/n)
1. SUPER TREND (10,3)
2. SUPER TREND (20,6)
3. STANDARD PIVOTS
(2/n)
This is how the setup looks like
(3/n)
(3/n)
Let me first state the NO TRADING RULES.
1. You will take NO TRADES when price is INSIDE both the super trends
LOGIC: as a trend follower you must NEVER take a trade when price is INSIDE A RANGE. The UPPER and the LOWER super trend together form a RANGE. Hence NO TRADE
(4/n)
1. You will take NO TRADES when price is INSIDE both the super trends
LOGIC: as a trend follower you must NEVER take a trade when price is INSIDE A RANGE. The UPPER and the LOWER super trend together form a RANGE. Hence NO TRADE
(4/n)
ENTRY CRITERIA
1. LONG entry
- BOTH Super Trends must be in BUY mode.
- wait for a candle to break and close ABOVE any of the pivot lines.
- go long on the high of the breakout candle.
(i meant R1 not S1 as written in the picture)
(5/n)
1. LONG entry
- BOTH Super Trends must be in BUY mode.
- wait for a candle to break and close ABOVE any of the pivot lines.
- go long on the high of the breakout candle.
(i meant R1 not S1 as written in the picture)
(5/n)
2. SHORT entry
- BOTH supertrend in SELL mode.
- wait for a candle to give a breakdown and close BELOW any of the pivot lines
- go short on the LOW of the breakdown candle.
(6/n)
- BOTH supertrend in SELL mode.
- wait for a candle to give a breakdown and close BELOW any of the pivot lines
- go short on the LOW of the breakdown candle.
(6/n)
WHEN will we NOT CONSIDER the entry candle.
refer to the picture. (for long its the opposite case )
(7/n)
refer to the picture. (for long its the opposite case )
(7/n)
TRADE MANAGEMENT
1. Time frame 15 mins
2. SL for long trade will be CANDLE LOW of breakout candle and for short trade CANDLE HIGH of breakdown candle.
(8/n)
1. Time frame 15 mins
2. SL for long trade will be CANDLE LOW of breakout candle and for short trade CANDLE HIGH of breakdown candle.
(8/n)
3. For NIFTY don't risk more than 40 points max per trade (20 points for option buying ) and for BANK NIFTY dont risk more than 120 points (60 points for option buying)
4. for every 2 point move trail SL by 1 point.
5. When price moved 1.5 times of risk bring SL to cost.
(9/n)
4. for every 2 point move trail SL by 1 point.
5. When price moved 1.5 times of risk bring SL to cost.
(9/n)
6. Book profit at 1:2 (although i dont recommend this as a trend follower)
OR TRAIL with Super Trend (10,2) or 13 ema BAND (AFTER SL is at cost)
7. max two trades per day.
(10/n)
OR TRAIL with Super Trend (10,2) or 13 ema BAND (AFTER SL is at cost)
7. max two trades per day.
(10/n)
The setup filters a LOT of RANGE BOUND days. It will NOT filter all the non trending days, but most of the days get filtered
For reference Jan 2022 gave 270 points on NIFTY (after brokerage) on this setup although Jan was a very difficult month for most trend followers.
11/n
For reference Jan 2022 gave 270 points on NIFTY (after brokerage) on this setup although Jan was a very difficult month for most trend followers.
11/n
Feel free to backtest the setup yourself. Dont blindly believe what i say.
Backtest and build conviction yourself.
You will be amazed at how many non trending days get automatically filtered.
Happy Trading :)
12/12
Backtest and build conviction yourself.
You will be amazed at how many non trending days get automatically filtered.
Happy Trading :)
12/12
Why is this one of my strongest setups ?
It's excellent in filtering the flat days.
@Twesh23 Hindi is also fine
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