BankNifty_Bearish_Intraday

26 Des 2022

The script uses following mechanism to give a signal of SELL if multiple parameters evaluated are all passed.

ENTRY-
1. 5 min MACD should be less than its previous tick
2. 15 min MACD should be less than its previous tick
3. 60 min MACD should be less than its previous tick
4. ADX should be more than 12
5. RSI should be less than 40
6. Stochastic %k should have negative cross over with %d
7. Bollinger band lower band value should be less than previous tick

EXIT
If the 5 min bar price closes above 5 min EMA , it gives an exit signal.

2 Jan 2023

Catatan Rilis

Added a condition to evaluate MACD on 5 minute time frame whether it is below zero line or not.