Hi, I wanted a strategy to short ATM call after the low of the first red candle of the day in the spot is broken.
I’m currently using
Low(0) crosses below Opening Range(Close,5min) lower than Opening Range(Open,5min)
but that doesn’t work properly maybe because I’m not able to define the first red candle.
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I have created a sample strategy for your requirement. Click on the below link to view the strategy as an example for your condition.
This strategy will generate an entry trigger when the low of the 1st candle of the day is broken and the 1st candle is a red candle. Also, the SL and TP have been set as random numbers, you can change them as per your preference.
Refer to the below links to learn about functions used in the strategy.
Dynamic contracts - Dynamic Contract - Streak Help
Symbol function - ✂️ Explanation of Symbol Function - YouTube
Nth candle - Indicators - Streak Help
Hope this helps.
How to change Exit Condition to exit when LTP crosses HIGH of first 5 min red candle.
Kindly note that Streak generates entry/exit triggers only after the closing of the candle and not on an LTP basis. This is because Streak uses OHLC data to calculate the indicator value and this data is only available after a candle closes. Hence, your requirement i.e. exit based on LTP is not possible.
However, you can use the condition in the below image to exit when a 5 min candle crosses above the high of the 1st 5 min candle and that candle is red.
Hope this helps.
I am unable to find INDICES NIFTY in symbol. How did you get it?
You can search “Nifty 50” inside the Symbol search box and you’ll be able to see the Nifty 50 index option. Refer to the below image.
Make sure to give a space between “Nifty” and “50”. In case you are still not able to find it. Please let me know, will help you with it.
Hope this helps.