I like to keep it simple and this is another attempt to find another simple way of trading Nifty on the weekly charts without worrying about the daily/hourly moves.
Some Simple Rules
I am working on an AFL for the same and will share it once I am confident in the system. Please bear with me till then.
I will post the weekly levels every Friday and I am confident enough to trade this with real money but will paper trade it for couple of months before actually betting any penny.
Here are the past levels triggered by this system... since 2002.
Updated with the AFL....
There is only one parameter that I have kept called Range %. This parameter is to tweak the support/resistance line to see which ratio perform better for a particular script. the default 10% is for conservative mid-long term investors while the 0% can be used by swing traders.
Some Simple Rules
- Maximum 1 trade every week, always keep 1 position opened.
- Since this is a weekly trend play, I will trade only on every Friday just before the market close around 3pm
- I am assuming Futures as continuous chart and we MUST roll over to the next month in the underlying trend.
I am working on an AFL for the same and will share it once I am confident in the system. Please bear with me till then.
I will post the weekly levels every Friday and I am confident enough to trade this with real money but will paper trade it for couple of months before actually betting any penny.
Here are the past levels triggered by this system... since 2002.
Updated with the AFL....
There is only one parameter that I have kept called Range %. This parameter is to tweak the support/resistance line to see which ratio perform better for a particular script. the default 10% is for conservative mid-long term investors while the 0% can be used by swing traders.
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