FAQ
How do I get all the indicators ? All indicators are available in trading view, excedpt MFPI. Login to the TradingView website,click Indicator and then click Invite-only scripts.The Mfpi access link is availabel in the Important Updates section, and access link is updated on a daily basis
In which scripts/symbols will this strategy work with ? It will work only in the NIFTY FUTURE chart, and its symbol in TradingView is NIFTY1!
This intraday strategy is desigend for which time frame ? This strategy only works in 3 min time frame
I can't see the Trend or Buy/Sell Pressure indicators in other time frames, such as the 5min/15min/1hr chart. Trend and BSP indicators are only designed for this strategy; that's why they will not be visible in other time frames.
What is the stoploss of this strategy ? You can put your stoploss outside the DSR zone(deep red/green bold line)
What are the safe entry points ? Always place your trade near the DSR zone(near the support or resistance line).Do not trade between those zones, like near the black line. Also check what other indicators, like trend, bsp, and mfpi, are indicating.
How to trade in Nifty on expiry day ? All rules are the same except for one thing. That is, if you are trading on expiry day, do not hold your trade after 2 p.m. During this time, a large number of contracts are shifted from one expiry to another, and retail participation during this time is extremely high. That's why it is very difficult to identify smart money flows. Another reason is that retail investors generally buy options by hoping they will get a 100X return (a popular zero-hero strategy), but ultimately they lose all money because the market shows wild moves in both directions and hits their stoploss.
If I see a danger sign near the DSR zone but other indicators indicate the opposite view, like Trend and BSP, indicating a bullish view, but a danger sign is placed near the support zone, then what strategy can we follow? In this case, it is better to avoid trading, but if you are a risky trader, then you can go with MFPI.
If the market is trading outside the DSR zone but MFPI is indicating that the market should trade between the DSR zone, then can I book my loss? You can book your loss if you are a risk-averse trader, but 90% of the time market is reversed from the DSR zone if all other parameters are fulfilled.
For option trading, which chart should I follow: Spot or Future chart? If you are an option trader, then you need to follow the spot chart to select the appropriate strike price. It is generally observed that the difference between a futures and spot chart is 20 to 30 points, so when you are entering any option strategy, always identify ATM by using a spot chart. then select your strategy, like a Bull or Bear spread.
What is the accuracy of this strategy ? You can backtest on your own, but as per our backtesting, it is 90% accurate.