This is a very popular Intraday Open High Low Strategy with pretty good accuracy. In this strategy, Buy signal is generated when a stock or index has same value for Open and Low, while Sell signal is generated when it has same value for Open and High. This strategy is 80% accurate in all market conditions if applied on liquid stocks and commodities.
New Updates – 1st May 2020
We have rolled out some updates to the sheet based on requests from several users. See below the details:
- The “High” and “Low” price in the sheet are captured exactly at 9:45 AM and they won’t change during the course of the day. This will make sure that the BUY/SHORT signal generated at 9:45 AM does not disappear later if the high/low price changes.
- The list of stocks has been updated. All the stocks from NSE which are traded in the F&O segment are included in the list.
- Trigger price is 0.5% higher than LOW in case of buy signal, while it is 0.5% lower than HIGH in case of sell signal.
- Stop loss is now 1% calculated based on trigger price
- If the trigger price is not hit, the profit/loss column will show the appropriate message.
See the below table for Live Buy/Sell signals. The values would be updated every time you refresh the page.
|Preferred Timeframe||Intraday 5 minutes|
|Buy Condition||Open=Low for the current day. Buy after half an hour of market open|
|Sell Condition||Open=High for the current day. Sell after half an hour of market open|
|Stop Loss||Indicated in above table|
|Targets||As per one’s risk appetite or End of the day|
How to trade based on this Strategy?
Step 1: Refresh this page to fetch live data for all F&O stocks with Buy/Sell signals
Step 2: After half an hour of market open time, check for Buy/Sell signals. Place your order above/below ‘Price’ column in the table. You can select your preferred Stock/Index from the list.
Step 3: Place stop loss as indicated in the table.
Step 4: Book profit/loss based on your risk appetite and make sure that your entire position is squared off at the end of the day. This is an Intraday only strategy.
Download Amibroker AFL for this strategy here.
Also check out the modified version of this strategy at the below link:
Frequently Asked Questions
Q: When should I place my orders?
A: You should place the orders at 9:45 AM (half an hour after market open).
Q: What happens if the trigger price is already crossed at 9:45 AM?
A: Place order at CMP
Q: What should be my target profit?
A: It depends on your risk appetite and goals. But ideally, 2% is something we recommend to most of our students.
Q: Should I trade just based on this system OR should I look at other indicators too?
A: It’s always better to look at multiple confirmation signals. However, do not complicate your system.
Q: Can I trade in the F&O market using this strategy?
A: Yes, you can, but price may vary for derivatives. So, you’ll need to calculate the trigger price manually.
Q: What should I do if the BUY/SELL signal disappears after I take a trade?
A: With our latest update to the sheet, this should never happen. But in case you observe the same, kindly report it to us.
Q: How do I get access to the sheet?
A: Use this link to request access.