SMART Candle Options Bullish

Strategy Type: Positional
Direction: Bullish
Instruments: Index Options (Buying)

You can define your own group of instruments, apply filters, decide the investment amount or quantity, and customise it as per your preference.

This positional strategy is based on a candle stick chart on a time frame of 3 or 5 mins (as per risk appetite).

Indicator used is D Smart (10 parameter).

D Smart on candlestick charts offers a unique perspective. Unlike conventional indicators, it adapts to the properties of the underlying charting method on which it is plotted.

It is a dynamic indicator that becomes more responsive during strong trends and slows down in sideways or volatile market conditions.

This strategy should be run for a group of stocks readily available on the platform, or a custom group of stocks that are CONSISTENTLY LIQUID in Options.

A sample setup of 4 stocks:

Strategy Details:

• Strategy Name: SMART Candle Options Strategy
• Instrument: Nifty
• Action: Long
• Type: Positional
• Max Open Positions: 5
• Timeframe: 3-min

For bullish strategy

• Entry Condition: D Smart Turns bullish
• Action: Enter Long CE
• Exit Condition: D Smart turns bearish
• Action: Exit CE

Feel free to experiment with it and refine it to suit your trading style—enhancing both execution and conviction.

Filters

You can further enhance the strategy by adding filters: additional rules, indicators, or pattern-based conditions.

One effective approach is to incorporate a higher timeframe trend filter, such as the daily trend of the stock.

You can also apply intraday-specific filters to improve trade quality.

With the right filters, you can further refine and personalise it to suit your trading style.

You can modify it, test it, and deploy it on the Algostra.