Nifty and Bank nifty option scalping strategy
It's a complete rule-based strategy
🧵
Bookmark the tweet for future reference
🐦retween to share

@bhatiamanu
@kuttrapali26
@KommawarSwapnil

Rules to be followed
1⃣ Time frame 2 min
2⃣ Trade only between 9:20 am to 10 am
3⃣ Deploy RSI with 40 as overbought and 20 as oversold setting
4⃣ Trade to be initiated or squared off only on candle closing basis
5⃣ No trade zone if RSI is between 40 and 20
6⃣ R2R 1:1 OR 1:2
1⃣ Example
🟢1st candle RSI above 40.
🟢 Use the high of this candle as an entry condition
🟢 When any follow-up candle closes above high take entry and keep low of the candle as SL.
🟢 SL is to be booked only if the candle closes below SL line on closing basis
2⃣ Example
🟢condition of RSI got full-filled
🟢 follow-up candle didn't breach the high of candle till 10 am
🟢Hence entry condition not satisfied hence no trade initiated
3⃣ Example
🟢RSI was above 40 in 1st 5 min
🟢 Entry was taken when high of the 1st candle was broken on a closing basis
🟢All the other rules should also be followed
4⃣ Example
🟢This is one example where conditions got satisfied
🟢 But Stop-loss got hit
The above strategy is been backtested for the previous 100 trades.
If this strategy gets more than 120 likes then I will share the backtested results with everyone
👥Follow @AakashSSawant1 for more such content

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