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Bank Nifty Buy 5 Min

Perfect

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hamirjethava83
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13 views1 page

Bank Nifty Buy 5 Min

Perfect

Uploaded by

hamirjethava83
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as TXT, PDF, TXT or read online on Scribd
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//@version=5

indicator("ChartArt-Bankniftybuying5min", overlay=true)
// Time condition (between 9:30 AM and 14:35 PM IST)
startTime = timestamp("GMT+5:30", year, month, dayofmonth, 9, 30)
endTime = timestamp("GMT+5:30", year, month, dayofmonth, 14, 45)
timeCondition = (time >= startTime and time <= endTime)
// EMA Conditions
ema7 = ta.sma(close, 7)
ema5 = ta.sma(close, 5)
intradayDowntrend = ema5 < ema7
// RSI and VWMA Condition
rsi14 = ta.rsi(close, 14)
sma14 = ta.sma(rsi14, 14)
rsiCondition = rsi14 <= sma14
// Relaxed Hammer or Doji Condition
secondCandleHammer = (open[1] - close[1]) < (high[1] - low[1]) * 0.3
secondCandleDoji = math.abs(open[1] - close[1]) / (high[1] - low[1]) < 0.36
secondCandleCondition = secondCandleHammer or secondCandleDoji
// First and Third Candle Conditions
firstBearish = close[2] < open[2]
thirdBullishCloseNearHigh = (high - close) < (high - low) * 0.18
thirdBullish = close > open and close > high[1] and low > low[1] and
thirdBullishCloseNearHigh

// Final Condition for Buy Signal


buySignal = timeCondition and intradayDowntrend and firstBearish and
secondCandleCondition and thirdBullish
// Plotting Buy Signal
plotshape(series=buySignal, title="Buy Signal", location=location.belowbar,
color=color.green,textcolor=color.white, style=shape.labelup, text="Buy")
// Stop Loss and Target Calculation
// Calculate Entry, SL, and Targets
var float entryPrice = na
var float sl = na
var float target1 = na
var float target2 = na
if buySignal
entryPrice := high
slDiff = entryPrice - low[1]
sl := slDiff > 90 ? (high[1] + low[1]) / 2 : low[1]
target1 := entryPrice + 1.8 * (entryPrice - sl)
target2 := entryPrice + 3 * (entryPrice - sl)

// Plotting SL, Target 1, and Target 2


line.new(x1=bar_index-2, y1=sl, x2=bar_index + 20, y2=sl, color=color.red, width=2,
style=line.style_dotted)
line.new(x1=bar_index, y1=target1, x2=bar_index + 20, y2=target1, color=color.blue,
width=1, style=line.style_dashed)
line.new(x1=bar_index, y1=target2, x2=bar_index + 20, y2=target2, color=color.blue,
width=1, style=line.style_dashed)

// Labels
label.new(bar_index + 4, sl, text="SL", color=color.red, textcolor=color.white,
style=label.style_label_up, size=size.small)
label.new(bar_index + 1, target1, text="1st TG", color=#79c9ffbe,
textcolor=color.white, style=label.style_label_down, size=size.small)
label.new(bar_index + 1, target2, text="2nd TG", color=#79c9ffbe,
textcolor=color.white, style=label.style_label_down, size=size.small)

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