Confusion in creating Algo in Streak for Entry in 3th Candle Breakout

Algos, strategies, code
1

Dear Team,

Its a little confusing for me how to code create an algo strategy within a 5 min timeframe on Nifty / Banknifty Spot Price.

Here is the strategy that i’m trying to implement in a 5 min timeframe

  1. Market Open @ 9.15
  2. Wait for the 1st 5min Candle to complete
  3. Let the 2nd 5 Min Candle Complete
  4. Mark the High and Low for the 2nd Candle

<<>>
if the next candle breaches / crosses over the high of the 2nd Candle by +1 and the 2nd Candle size /range should not be more than 40pts

=>> Execute CE buy order @ ATM
=>> With a Target of 50 pts and SL of 30 Pts

<<>>
if the next candle breaches / crosses below the low of the 2nd Candle by +1 and the 2nd Candle size /range should not be more than 40pts

=>> Execute PE Buy order @ ATM
=>> With a Target of 50 pts and SL of 30 Pts

Can you please help me build this logic on Streak ?

Screenshot 2022-12-27 at 7.26.19 PM
Screenshot 2022-12-27 at 7.26.19 PM1186×1036 33 KB

1 Like
2

Sorry Team dint tag you earlier can you’ll please help me on creating this strategy ?
@Kunal_Streak @Vignesh_Streak @Sayan_Streak @streak_trader @Streak

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3

hello @vinay_acharya

I have created the strategy based on the understanding of your requirements, refer to the link below:

The above strategy is created for the Buy-Side using the Dynamic Contract feature. You can follow a similar approach to create a Sell-Side strategy as well.

Also, note that Streak uses OHLC data to check your entry-exit conditions. Since the OHLC data is only available after the close of the candle, your alerts will be generated after the close of the candle matching your conditions(i.e. at the opening of the next candle).

Hope this helps

1 Like
4

Thanks a lot Hitesh …I’ll check this and get a better understanding of the logic coded :slight_smile: