Pride's Intra-Day Strategy [Profit Everyday]

[skgarg]

I am having some confusion in handling 30 min TF, plz clarify, i wud be extremely thankful.

1)Market opens at 9:55 am. first 30 min candle gets formed at 10:25 am. Then second 30 min candle comes at 10:55 am. What I have understood is that only after these 2 candles would we be able to know whether the 30 min stoch is bullish or bearish and so we dont trade till then. Is my understanding correct ?

2)Lets say at 10:55 we see that 30 min stoch is bullish. So now for next 30 min i.e. till 11:25, we will come down to 5 min TF and see for long signals. Actually I am seeing that some time it is so happening that in between 10:55 & 11:25, the 30 min stoch is turning from bullish to bearish, lets say at 11:10,but I think we cannot see it till 11:25 when the next 30 min candle completes. So this implies that even though 30 min stoch crossed from bullish to bearish at 11:10, we still continue to look for long signal on 5 min TF till 11:25 am and do not revert back to 30 min TF till 11:25 when we get the next 30 min candle. Is my understanding correct ?

3) If my understanding of point 2 is correct, then we come to 5 min TF, lets say 30 min stoch is bullish till 10:55 and so from 10:55 to 11:25 we are looking for long signals. Now do we wait for a fresh crossover in that period or is it like if at that time both 5 min stoch & 5 min ema crossover is bullish(meaning that crossover took place earlier to 10:55) we enter the trade? My understanding is that if both are bullish, we enter the trade and dont wait for fresh crossover.

I would be extremely thankful if Pride or anyone else clarifies these points for me.

 

[joy.edakad]

Automation for this method using amibroker would not be perfect. As the method uses 2 TF 5 mins and 30 mins, the values in AFL that are used from 30 Min TF derived in 5 Mins (by using setTF, retore & expand) remain static for 30 mins, i.e. for 6 bars on 5 Min TF. (as an example check out the Stoch 30 that is plotted on 5 min TF with the afl I have posted).

Hi, Rajadhiraj

You r Right. In market replay mode, the calculation of last bar is just like in RT mode, this can be used for learning purpose.

Hello Terminator,

Other than this, the code posted by u is ok, good effort terminator.

But there can be other methods to calculate the 30 min stochastic, without the amibroker built in functions, I mean a custom formula to calculate a 30 min stochastic on a 5 min chart. I have no immediate solution at my hand, but I think it can be done.

 

[skgarg]

Hi, Rajadhiraj

You r Right. In market replay mode, the calculation of last bar is just like in RT mode, this can be used for learning purpose.

Hello

Can u tell me how to run market replay, i am unable to do it.

 

[Smart_trade]

Dear ST,

Please if possible help us with screen shot (marking the zone)of ur valuable observation which will help to understand better by TA learner. Thanks in adv. Happy Trade.

SM

Hello SM,

I have done it in a separate thread " How to trade with an oscillator "in equities....daytrading section.

Dont want to clutter this thread....let this thread concentrate with the core method....

Best wishes,

Smart_trade

 

[bandlab2]

I am having some confusion in handling 30 min TF, plz clarify, i wud be extremely thankful.

1)Market opens at 9:55 am. first 30 min candle gets formed at 10:25 am. Then second 30 min candle comes at 10:55 am. What I have understood is that only after these 2 candles would we be able to know whether the 30 min stoch is bullish or bearish and so we dont trade till then. Is my understanding correct ?

The look back period fo the stoch is 8, so we need 8 candles before NOW. If the crossover has happene yesterday and its continuing then no need to wait till 10:25 or 10:55...

2)Lets say at 10:55 we see that 30 min stoch is bullish. So now for next 30 min i.e. till 11:25, we will come down to 5 min TF and see for long signals. Actually I am seeing that some time it is so happening that in between 10:55 & 11:25, the 30 min stoch is turning from bullish to bearish, lets say at 11:10,but I think we cannot see it till 11:25 when the next 30 min candle completes. So this implies that even though 30 min stoch crossed from bullish to bearish at 11:10, we still continue to look for long signal on 5 min TF till 11:25 am and do not revert back to 30 min TF till 11:25 when we get the next 30 min candle. Is my understanding correct ?

Pl read the initial post by Pride carefully, we need to check all conditions are met AT THE TIME OF TRADE. So we need to veriy 30 min, 5 min stoch and EMA just before initiating the trade. in your example after 11:10 we are bearish, so we should look for bearinh signals on 5 min. again if there is any confusion on whether or not crossover is clear/complete, then do NOT trade. sometimes after candle is finished the crossover may reverse due to false ticks. if u r a conservative trader , wait fo 30 mon candle to finish in such cases. i would skip any trade thats border line case. we get 3 trades a day, so i am happy

3) If my understanding of point 2 is correct, then we come to 5 min TF, lets say 30 min stoch is bullish till 10:55 and so from 10:55 to 11:25 we are looking for long signals. Now do we wait for a fresh crossover in that period or is it like if at that time both 5 min stoch & 5 min ema crossover is bullish(meaning that crossover took place earlier to 10:55) we enter the trade? My understanding is that if both are bullish, we enter the trade and dont wait for fresh crossover.

I would be extremely thankful if Pride or anyone else clarifies these points for me

seniors, pl correct if i am wrong

 

[bandlab2]

Hello bandlab sir,


as your tool the backtesting xls seem very good but i don't know how to use this pls tell us for our forum member

its very simple. just enter entry date, time, price, stoploss, exit time, exit price. all other cells will be calculated automatically based on the above mentioned cells

 

[bandlab2]

Hi Pride,Ankit and all,

I have gone through the complete thread... also I understood the Pride's strategy for nifty futures trading. Based on the various suggestions, I am going to subscribe to investbulls for a month.

But have a little doubt... I learnt from replies that for 30 min. we have to switched to atleast 2 days data... but I am not able to find option to switch over to 2 days data.

I am attaching screenshot of Chart Panel (which most of u already seen on this thread )...also I am attaching screenshot of Timeframe settings .... tried changing these timne frame settings, but it is not refreshing the display of chart...
If anyone can guide me step by step to switch over it to 2 days would be a gr8 help....

Also I appreciate for sharing this strategy by Pride and Ankit...:clapping:
million thanks to them.....

I hope i am not annoying by asking this question again....

amol welcome aboard. the vesion you are seing is FREE version and doesnt change the deault settings. if you subscribe, then you will get refreshed settings. its worth spening 350 bucks if you are serious about this method.

 

[skgarg]

The look back period fo the stoch is 8, so we need 8 candles before NOW. If the crossover has happene yesterday and its continuing then no need to wait till 10:25 or 10:55



Pl read the initial post by Pride carefully, we need to check all conditions are met AT THE TIME OF TRADE. So we need to veriy 30 min, 5 min stoch and EMA just before initiating the trade. in your example after 11:10 we are bearish, so we should look for bearinh signals on 5 min.

Thanks a lottt for replying.

My confusion is that how at 11:10, we can come to know whether the 30 min stoch has turned bearish or not? This we can know only at 11:25, when 30 min candle would complete. Or is there any way to know before that itself ?

 

[ag_fx]

I am having some confusion in handling 30 min TF, plz clarify, i wud be extremely thankful.

1)Market opens at 9:55 am. first 30 min candle gets formed at 10:25 am. Then second 30 min candle comes at 10:55 am. What I have understood is that only after these 2 candles would we be able to know whether the 30 min stoch is bullish or bearish and so we dont trade till then. Is my understanding correct ?

2)Lets say at 10:55 we see that 30 min stoch is bullish. So now for next 30 min i.e. till 11:25, we will come down to 5 min TF and see for long signals. Actually I am seeing that some time it is so happening that in between 10:55 & 11:25, the 30 min stoch is turning from bullish to bearish, lets say at 11:10,but I think we cannot see it till 11:25 when the next 30 min candle completes. So this implies that even though 30 min stoch crossed from bullish to bearish at 11:10, we still continue to look for long signal on 5 min TF till 11:25 am and do not revert back to 30 min TF till 11:25 when we get the next 30 min candle. Is my understanding correct ?

3) If my understanding of point 2 is correct, then we come to 5 min TF, lets say 30 min stoch is bullish till 10:55 and so from 10:55 to 11:25 we are looking for long signals. Now do we wait for a fresh crossover in that period or is it like if at that time both 5 min stoch & 5 min ema crossover is bullish(meaning that crossover took place earlier to 10:55) we enter the trade? My understanding is that if both are bullish, we enter the trade and dont wait for fresh crossover.

I would be extremely thankful if Pride or anyone else clarifies these points for me.

The look back period fo the stoch is 8, so we need 8 candles before NOW. If the crossover has happene yesterday and its continuing then no need to wait till 10:25 or 10:55...




Pl read the initial post by Pride carefully, we need to check all conditions are met AT THE TIME OF TRADE. So we need to veriy 30 min, 5 min stoch and EMA just before initiating the trade. in your example after 11:10 we are bearish, so we should look for bearinh signals on 5 min. again if there is any confusion on whether or not crossover is clear/complete, then do NOT trade. sometimes after candle is finished the crossover may reverse due to false ticks. if u r a conservative trader , wait fo 30 mon candle to finish in such cases. i would skip any trade thats border line case. we get 3 trades a day, so i am happy




seniors, pl correct if i am wrong

Bandlab has already replied to ur query well. I would like to add only 2 things:

1) On a 30 min chart, the first candle will be from 955-1000. Then next candle 1000-1030, 1030-1100 and so on. So, this will adjust your timing at first.

2) Do not look at 30 min chart at 1110 or 1120 AM or any other such time. Only look at it once the 30 min candle closes. That is at 10,1030,11,1130,12 and so on...and then decide what to seek on 5 min chart.

Let me try it with an example:

Lets say at 11 AM u see a Bullish crossover on 30 min. So for 11-1130 Am, drop down to 5 min chart and look for a bullish crossover.
At 1130 AM, look at 30 m in chart again. Lets say it stays bullish. Go back to 5 min chart from 1130 to 1200 and look for bullish oppurtunity.
Now, lets say when you check it at 1200, it has a bearish crossover. So from 1200 to 1230, look for bearish oppurtunity.

The 30 min stoch will not change /crossover more than once in the entire day. So this activity is very simple to implement.

I hope it answers your queries.

Its good to see initiative coming from all segments of traders. From newbies to seasoned ones to the veterans to the coders...I am sure we all can benefit from this.

Happy Trading

 

[bandlab2]

in such case wait till 30 min candle is completed