LTP crosses the low of previous 15min candle

Using Streak, I want to place a Buy order on a particular scrip when below condition satisfy: -

  1. 5 min Candlestick chart
  2. Enter in trade between 09:30AM and 2:45PM
  3. On Below Conditions:
    If(1st candle is Green)
    then Buy When LTP Crosses CLOSE of 1st candle
    else SELL When LTP Crosses OPEN of 1st candle

How can I add this condition in Streak?



Currently LTP is not supported as it cannot be reliably backtested.
But you can use 1min candle interval close for this.
Here is how:
Candle interval : 1min
Bullish Entry:
Opening range(close,5min) higher than Opening range(open,5min)
and close crosses above Opening range(close,5min)

Bearish Entry:
Opening range(close,5min) higher than Opening range(open,5min)
and close crosses below Opening range(open,5min)
Trade between : 09:31AM and 2:45PM

Note: Opening range lets you access the first candle of the day.
Backtest and check if this matched your requirements as per the charts.

Hope this helps.

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What if my strategy is based on higher time frame candle than 1 min? ‘Opening range’ does not support lesser time frames than strategy time frame.
Also, without LTP, price action trading is difficult using Streak. Percentage stop losses are getting hit due to whipsaws and stop losses based on indicators have more draw downs.
Please think of introducing LTP seriously.

Hi @sarang_palpattuwar

You can use the Multi-timeframe function to deal with multiple different timeframes. Note that the lowest timeframe available is 1 min. Opening range allows higher timeframe which will allow you to create strategies based on higher timeframe candle than 1 min

Price action strategies are essentially dependent on patterns and not LTP. Even if you trade using a 15min chart you can create good profit-making strategies. Having said that if your SL is getting triggered easily, you need to widen the SL for the instrument. We are working on adding absolute TP SL and it would be released soon.

Enabling triggers on LTP means trade can be triggered without the formation of a proper candle. Let’s assume you are looking at a 5 min chart and trading, if you place your orders before completion of a 5 min candle, that means you are placing orders before the formation of a pattern. When you place your order, the LTP was near the high of the 5 min candle but after the candle closed, price retraced and closed near to its candle open, forming a Doji. As per the price action theory, trading a Doji would be different. Moreover, the charts that you see has minimum timeframe of 1 min, so anything less that you will not be able to verify using charts.

Hope this gives a better clarification.

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