Hey all i would like help in fine tuning my intraday strategy for f&o stocks.
So the strategy is :-
1.Scan for stocks which have opened above or below yesterday high/low.
2.Buy/Sell when price break above/below the first bar of the day(90 mins charts)
3.Stop loss is closest minor swing high/low( zoom in to 10 min) with target left open to be closed toward end of day.
I am using 90 min bar charts as anything below that will give too many false calls.Any idea how to increase the hit ratio and take fewer calls with some additional filter for this strategy as even though i have increased the time frame to 90 min there are many days where stocks go in opposite direction.One way is to wait for the next bar to close above/below the first bar of day but then at sometimes it becomes to late to take the trade as the price has moved too much.
I have seen the performance on f&o stocks for past 2 months it is quite decent. (Rs.2000 avg per trade and 130 trades were generated)
Any help with tweaking(mainly adding some filter )or is anyone already using this strategy all help is welcomed.
So the strategy is :-
1.Scan for stocks which have opened above or below yesterday high/low.
2.Buy/Sell when price break above/below the first bar of the day(90 mins charts)
3.Stop loss is closest minor swing high/low( zoom in to 10 min) with target left open to be closed toward end of day.
I am using 90 min bar charts as anything below that will give too many false calls.Any idea how to increase the hit ratio and take fewer calls with some additional filter for this strategy as even though i have increased the time frame to 90 min there are many days where stocks go in opposite direction.One way is to wait for the next bar to close above/below the first bar of day but then at sometimes it becomes to late to take the trade as the price has moved too much.
I have seen the performance on f&o stocks for past 2 months it is quite decent. (Rs.2000 avg per trade and 130 trades were generated)
Any help with tweaking(mainly adding some filter )or is anyone already using this strategy all help is welcomed.
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