2.50 PM candle high break

Streak - backtesting
1

My strategy is intraday strategy.
Open the current month Nifty futures chart and set candles on a 5 min time frame.
I will watch the current month Nifty futures chart but I will trade in ITM Nifty options.
Mark high and low of the 2:50 PM (5 min) candle.
I enter into trade at 3:00 PM candle and exit maximum 03:15 PM daily.

Entry Criteria :
I will mark the high and low of 5 min (02:50 to 2.55 PM) candle.
If High Breaks of 5 min (02:55 to 3:00 PM) candle then, I took ITM (In the money) Nifty CALL option.

Exit Criteria :
Put a stop loss of 15 points and target is of 20 points.
If Stop loss or Target does not hit till 3:15 PM, I will be exited immediately from current trade.

2

You must have an iron heart to put 15 points stoploss in nifty or your quantity is too low to aford such small stoploss…i think 10 times before putting more than 8 points sl in nifty …lol

3

It’s called a gambling. It’s no strategy.
You should gamble with an edge … it’s then called a strategy.
Make more robust rules for entry and exit.
Your quantity will reduce but quality will rise.

4

@trade4lyf Check out the image below to learn how to create the conditions:

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You can refer to the strategy link here: Streak | Create, backtest and deploy trading strategies