I want to create and backtest the strategy of power of stocks. The rules are -
Sell nifty 50 stocks when-
- chart time frame 5minutes
- Time period 5 (in simple terms its 5ema)
- entry when current candle close crosses below previous candle low and if that previous candle is higher than 5ema and should not be touched the 5ema line
4.Short in nifty 50 stocks
- target minimum 1:2.
- stop loss is that previous candle high or 3 ema crossed above 5 ema