ScannersStrategies

High Wave Candle

The strategy takes a buy position when the stock advances in bullish direction after an indecision between bulls and bears. High Wave candle pattern has been used to identify indecision. The strategy is suitable for bullish trending markets.

Order Type

CNC/NRML

Position Type

BUY

Time Frame

hour

Entry Conditions

Abs( Multitime frame(hour, Close(1) ) - Multitime frame(hour, Open(1) ) ) lower than ( Multitime frame(hour, High(1) ) - Multitime frame(hour, Low(1) ) ) * Multitime frame(hour, 0.2 ) and Abs( Multitime frame(hour, Close(1) ) - Multitime frame(hour, Open(1) ) ) higher than ( Multitime frame(hour, High(1) ) - Multitime frame(hour, Low(1) ) ) * Multitime frame(hour, 0.1 ) and ( Multitime frame(hour, High(1) ) - Multitime frame(hour, Open(1) ) ) higher than Abs( Multitime frame(hour, Close(1) ) - Multitime frame(hour, Open(1) ) ) * Multitime frame(hour, 2 ) and ( Multitime frame(hour, Open(1) ) - Multitime frame(hour, Low(1) ) ) higher than Abs( Multitime frame(hour, Close(1) ) - Multitime frame(hour, Open(1) ) ) * Multitime frame(hour, 2 ) and Multitime frame(hour, Close(0) crosses above High(-1) )

BUY 100 shares when Abs( Multitime frame(hour, Close(1) ) - Multitime frame(hour, Open(1) ) ) lower than ( Multitime frame(hour, High(1) ) - Multitime frame(hour, Low(1) ) ) * Multitime frame(hour, 0.2 ) and Abs( Multitime frame(hour, Close(1) ) - Multitime frame(hour, Open(1) ) ) higher than ( Multitime frame(hour, High(1) ) - Multitime frame(hour, Low(1) ) ) * Multitime frame(hour, 0.1 ) and ( Multitime frame(hour, High(1) ) - Multitime frame(hour, Open(1) ) ) higher than Abs( Multitime frame(hour, Close(1) ) - Multitime frame(hour, Open(1) ) ) * Multitime frame(hour, 2 ) and ( Multitime frame(hour, Open(1) ) - Multitime frame(hour, Low(1) ) ) higher than Abs( Multitime frame(hour, Close(1) ) - Multitime frame(hour, Open(1) ) ) * Multitime frame(hour, 2 ) and Multitime frame(hour, Close(0) crosses above High(-1) ) at hour candle interval using Candlestick chart chart. Enter trade between 00:00 to 23:59

Exit Conditions

Close(0) crosses below Supertrend(7,3,0)

SELL 100 shares when Close(0) crosses below Supertrend(7,3,0) or at stop loss % of 2 or target profit % of 2 at hour candle interval using Candlestick chart chart.

Stop Loss

2

Target Profit

2

Stocks

  • NSE

    ADANIENT

  • NSE

    ADANIPORTS

  • NSE

    APOLLOHOSP

  • NSE

    ASIANPAINT

  • NSE

    AXISBANK

  • NSE

    BAJAJ-AUTO

  • NSE

    BAJFINANCE

  • NSE

    BAJAJFINSV

  • NSE

    BPCL

  • NSE

    BHARTIARTL

  • NSE

    BRITANNIA

  • NSE

    CIPLA

  • NSE

    COALINDIA

  • NSE

    DIVISLAB

  • NSE

    DRREDDY

  • NSE

    EICHERMOT

  • NSE

    GRASIM

  • NSE

    HCLTECH

  • NSE

    HDFCBANK

  • NSE

    HDFCLIFE

  • NSE

    HEROMOTOCO

  • NSE

    HINDALCO

  • NSE

    HINDUNILVR

  • NSE

    ICICIBANK

  • NSE

    INFY

  • NSE

    LT

  • NSE

    MARUTI

  • NSE

    NTPC

  • NSE

    ONGC

  • NSE

    POWERGRID

  • NSE

    RELIANCE

  • NSE

    SBILIFE

  • NSE

    SBIN

  • NSE

    SUNPHARMA

  • NSE

    TATACONSUM

  • NSE

    TATAMOTORS

  • NSE

    TATASTEEL

  • NSE

    TECHM

  • NSE

    TITAN

  • NSE

    ULTRACEMCO