SH's 315 Strategy - how to use if effectively

[raj567]

dear SH,
as per my understanding you should added in nifty when it touch the 5 ema. plz clarify
regards
RAJ

 

[Tradewithhunter]

Can anyone please help me,which would be the best site,i mean where can i find the eod charts and ema charts with accurate data.any site plz mention.
Thanx...
Regards,
jkm

Hi - please try www.icharts.in as they offer dynamic Real time charts.

Cheers
SH

 

[Tradewithhunter]

dear SH,
as per my understanding you should added in nifty when it touch the 5 ema. plz clarify
regards
RAJ

Hi Raj - as per 315 longs should be held without any adds right now. Adds would be done when 15 EMA is touched (not 5 EMA) and effective add is after 15 EMA is touched and previous days highs are breached (please read my post on effective adds).

However since Nifty has swung up more than 100 points from my entry point (4598) I am now holding longs with SL 4598 (please read effective SL post).

So if 4598 is hit I will exit longs and wait to enter longs again when 15 EMA is touched and previous days highs are breached.

Cheers
SH

 

[Tradewithhunter]

@TradewithHunter/Other Experienced Users

Hello All

With lots of help of a friend at another forum, I have got this AFL, supposed to generate buy/sell/cover with an arrow according to this strategy, but being inexperienced, lots of things are going wrong

Can you guys please check code for buy/sell/long/short/cover and why the arrows are all coming in wrong places? Please help me create code for this AFL and please just dont only correct this, explain where I went wrong?



_SECTION_END();

Dear Sanjay - I wish I could help ... however I am not very much of a techie and I dont use amibroker either. I hope someone else would be able to help you.

In case you are able to crack the AFL for this strategy .. I would love to know the results of backtesting.

Cheers
SH

 

[nifty]

Hi - please try www.icharts.in as they offer dynamic Real time charts.

Cheers
SH

But there are some drawback with charts provided at the given link
For example: if draw charts for 20 EMA for nifty with Predefined Date Range of 3 Month output will be EMA (Close, 20): 4457 and if you draw same charts with Predefined Date Range of 1 Month: output will be EMA (Close, 20): 4434.

How can be 20 EMA is different for 3 Month & 1 month chart ?

Happy Trading....

 

[jkm10]

Hi...
Sir,today seeing the reliance charts,i think it has given a buy signal.
Please confirm,
thanx
regards,
jkm

 

[raj567]

Hi Raj - as per 315 longs should be held without any adds right now. Adds would be done when 15 EMA is touched (not 5 EMA) and effective add is after 15 EMA is touched and previous days highs are breached (please read my post on effective adds).

However since Nifty has swung up more than 100 points from my entry point (4598) I am now holding longs with SL 4598 (please read effective SL post).

So if 4598 is hit I will exit longs and wait to enter longs again when 15 EMA is touched and previous days highs are breached.

Cheers
SH

thanks 4 reply SH
i have a confusion, plz have a look
1. ADD......when price bounceback from 15 ema
2. exit....... when entire candle is above 5 ema & reenter when it touch 5 EMA
so add at 5 ema & re entre at 15 ema
rgds
RAJ

 

[spiritunit]

But there are some drawback with charts provided at the given link
For example: if draw charts for 20 EMA for nifty with Predefined Date Range of 3 Month output will be EMA (Close, 20): 4457 and if you draw same charts with Predefined Date Range of 1 Month: output will be EMA (Close, 20): 4434.

How can be 20 EMA is different for 3 Month & 1 month chart ?

Happy Trading....

I use icharts.in and it works perfectly, I don't see any changes of EMA 20 for 1 month, 3 months or 6 months. It shows the same value for all these time frame, better check again. Its the calculation for the last 20 days EMA only. So, whatever timeframe won't affect it.

 

[Tradewithhunter]

thanks 4 reply SH
i have a confusion, plz have a look
1. ADD......when price bounceback from 15 ema
2. exit....... when entire candle is above 5 ema & reenter when it touch 5 EMA
so add at 5 ema & re entre at 15 ema
rgds
RAJ

Hi Raj - Exit is when current candle is not touching 3 EMA .. I do not use 5 EMA under 315 .. its just 3 EMA and 15 EMA.

Cheers
SH

 

[Tradewithhunter]

Hi...
Sir,today seeing the reliance charts,i think it has given a buy signal.
Please confirm,
thanx
regards,
jkm

Hi JKM,

RIL 315 buy was generated on 03/08/2009 when RIL closed at 2017 in cash. It made a high of 2125 before closing at 2046. I am holding it now with SL 2032 (my entry point).

Cheers
SH