If nifty forms inverted hammer and its near resistance, then buy particular put option strike.
Please let me know how to create such strategy.
@Streak can you.
how to do can you guide me.
Wait for reply from Streak, they will guide you if it is possible to create such strategy on the platform.
You can create the condition of an inverted hammer easily. It is already available in the scanner Discover section. However, for Support and resistance, you need to use Pivot point. Without Pivot point S&R is subjective and hence cannot be implemented.
Also, you need to set the Put strike while backtesting and deployment. It cannot be automatically chosen by the system.
Yes correct, I will choose put strike but my condition is buy put XXX if nifty 50 forms inverted hammer.
If possible can you share one screenshot for the same.
You will find this under chart patterns. you can make the adjustment if necessary.