Crude Oil Intraday Trading Strategy

[Tajudeen_S]

Hi,

Please render your assistance to code the below strategy on MCX Crude Oil in Streak.

SETUP

Two Candle Formation

15 Minute Time Frame.

50 EMA

RSI (3) Upper Band 80. Lower Band 20

FOR LONG SETUP

1. We need two Bullish candles for a long entry. The second candle should close above the first bullish candle’s high, & the first bullish candle’s low should be lower than the second bullish candle’s low.
2. Second Bullish Candle’s RSI(3) value should be higher than 80. (First bullish candle’s RSI value could be anything. Doesn’t matter.)
3. Both Bullish Candle should be above 50 EMA.
4. Buy above second candle’s High + 1rs, SL will be First candle’s Low -1 rs.

FOR SHORT SETUP

1. We need two Bearish candles for Short entry. The second candle should close Below the first Bearish candle’s Low, & the first Bearish candle’s High should be higher than the second Bearish candle’s high.
2. Second Bearish Candle’s RSI(3) value should be less than 20. (First Bearish candle’s RSI value could be anything. Doesn’t matter.)
3. Both Bearish Candles should be below 50 EMA .
4. Sell below second candle’s Low – 1rs, SL will be First candle’s High +1 rs.

GENERAL RULE

Risk Reward Ratio for this strategy is 1 :2. Even 1:1 is ok.

Thank you.

[Tajudeen_S]

Forget to add that entry and exit for long and short setup patterns can occur any no. of times in a day. Thank you.

[Krishnendu]

@Tajudeen_S

• We need two Bullish candles for a long entry. The second candle should close above the first bullish candle’s high, & the first bullish candle’s low should be lower than the second bullish candle’s low.
• Second Bullish Candle’s RSI(3) value should be higher than 80. (First bullish candle’s RSI value could be anything. Doesn’t matter.)
• Both Bullish Candle should be above 50 EMA.

Here is the condition for the Long setup

@Tajudeen_S

Buy above second candle’s High + 1rs,

For this, you can refer

Reduce Slippage on Streak

Hey @Abdul_Samie, the orders are executed at the exchange so execution, unfortunately, cannot be controlled. However, Streak has recently added a Limit order feature that allows users to preset slippage points just as you mentioned. The instruction manual for this is currently getting worked upon, so I’ll share briefly how to use it here. When you deploy a strategy, in the Pre-deployment window, set the order type as Limit and set the Default price as either OHLC or LTP. [3] Then add a buffe…

@Tajudeen_S

SL will be First candle’s Low -1 rs.

This is not currently possible. Hence the SL in the above image has been considered as the Low of the candle that triggered the trade.

[Tajudeen_S]

Thank you Krishnendu. I just came to check whether I got any response and felt happy to receive this parameter. I will try to build the condition based on it for the short set up.

Thank you once again.