OPEN-SOURCE SCRIPT
Sensex Institutional Level Breakout (500-Point Grids)
Overview
This strategy is designed specifically for the BSE Sensex intraday volatility. It leverages the psychological importance of "Round Numbers" (multiples of 500) to identify institutional supply and demand zones after the initial morning volatility settles.
How it Works
The 9:45 AM Snapshot: The script ignores the first 30 minutes of "noise." At 9:45 AM, it identifies the nearest 500-point round numbers above and below the current price (e.g., if Sensex is at 73,320, it marks 73,500 and 73,000).
The Entry Logic: * Bullish: Triggers when a 5-minute candle closes below the upper 500-point line (anticipating a liquidity grab or "fake-out" reversal).
Bearish: Triggers when a 5-minute candle closes below the lower 500-point line.
Exit Strategy:
Target: A fixed profit-taking level at the next 500-point increment (e.g., if entering at 73,500, the target is 74,000).
Initial Stop Loss: Fixed at 100 points from entry.
Risk Management (The 200-Point Rule): To protect capital, the Stop Loss automatically moves to Break-Even (Entry Price) once the trade moves 200 points in your favor. This "single-step" trail ensures you don't turn a winning trade into a loser during mid-day reversals.
Features
Intraday Only: Automatically squares off all positions at 3:25 PM IST to avoid overnight gap risk.
Visual Levels: Clear plotting of Entry Levels, Profit Targets, and the active Stop Loss on the chart.
Customizable: Users can adjust the round-number increment (e.g., 100, 250, 1000) and the trailing trigger points via the settings menu.
Best Used On
Timeframe: 5-Minute (M5).
Instrument: SENSEX / BSN.
Note: This is a Mean Reversion / Liquidity Grab style strategy since it triggers on a close below the upper level for a long.
This strategy is designed specifically for the BSE Sensex intraday volatility. It leverages the psychological importance of "Round Numbers" (multiples of 500) to identify institutional supply and demand zones after the initial morning volatility settles.
How it Works
The 9:45 AM Snapshot: The script ignores the first 30 minutes of "noise." At 9:45 AM, it identifies the nearest 500-point round numbers above and below the current price (e.g., if Sensex is at 73,320, it marks 73,500 and 73,000).
The Entry Logic: * Bullish: Triggers when a 5-minute candle closes below the upper 500-point line (anticipating a liquidity grab or "fake-out" reversal).
Bearish: Triggers when a 5-minute candle closes below the lower 500-point line.
Exit Strategy:
Target: A fixed profit-taking level at the next 500-point increment (e.g., if entering at 73,500, the target is 74,000).
Initial Stop Loss: Fixed at 100 points from entry.
Risk Management (The 200-Point Rule): To protect capital, the Stop Loss automatically moves to Break-Even (Entry Price) once the trade moves 200 points in your favor. This "single-step" trail ensures you don't turn a winning trade into a loser during mid-day reversals.
Features
Intraday Only: Automatically squares off all positions at 3:25 PM IST to avoid overnight gap risk.
Visual Levels: Clear plotting of Entry Levels, Profit Targets, and the active Stop Loss on the chart.
Customizable: Users can adjust the round-number increment (e.g., 100, 250, 1000) and the trailing trigger points via the settings menu.
Best Used On
Timeframe: 5-Minute (M5).
Instrument: SENSEX / BSN.
Note: This is a Mean Reversion / Liquidity Grab style strategy since it triggers on a close below the upper level for a long.
오픈 소스 스크립트
트레이딩뷰의 진정한 정신에 따라, 이 스크립트의 작성자는 이를 오픈소스로 공개하여 트레이더들이 기능을 검토하고 검증할 수 있도록 했습니다. 작성자에게 찬사를 보냅니다! 이 코드는 무료로 사용할 수 있지만, 코드를 재게시하는 경우 하우스 룰이 적용된다는 점을 기억하세요.
Investor | Trader | Bestselling Author | Healing Money Blocks & Manifesting Abundance | Transpersonal Counselor
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
오픈 소스 스크립트
트레이딩뷰의 진정한 정신에 따라, 이 스크립트의 작성자는 이를 오픈소스로 공개하여 트레이더들이 기능을 검토하고 검증할 수 있도록 했습니다. 작성자에게 찬사를 보냅니다! 이 코드는 무료로 사용할 수 있지만, 코드를 재게시하는 경우 하우스 룰이 적용된다는 점을 기억하세요.
Investor | Trader | Bestselling Author | Healing Money Blocks & Manifesting Abundance | Transpersonal Counselor
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.