The Intraday Open High Low Strategy is highly popular for its remarkable accuracy. This strategy generates a Buy signal when a stock or index opens at the same value as its daily low and a Sell signal when it opens at the same value as its daily high. It consistently achieves an 80% success rate in various market conditions, especially when applied to liquid stocks and commodities.
- We record the “High” and “Low” prices on the sheet precisely at 9:45 AM, ensuring that the BUY/SHORT signal remains valid throughout the day, even if high/low prices change later.
- We recently updated the list of stocks to include all NSE-traded stocks in the F&O segment.
- For the buy signal, set the trigger price at 0.5% above the LOW, and for the sell signal, set it at 0.5% below the HIGH.
- Calculate the stop loss at 1% based on the trigger price.
- If the trigger price isn’t reached, the profit/loss column will display a corresponding message.
Consult the table below for real-time Buy/Sell signals, with values updating upon each page refresh.
|Preferred Timeframe||Intraday 5 minutes|
|Buy Condition||The Buy Condition occurs when Open=Low for the current day. Place buy orders after half an hour of market opening.|
|Sell Condition||The Sell Condition occurs when Open=High for the current day. Place sell orders after half an hour of market opening.|
|Stop Loss||Refer to the table above for stop loss values.|
|Targets||Set targets based on your risk tolerance or end-of-day goals.|
How to Implement this Strategy:
Step 1: Refresh this page to access live data for all F&O stocks with Buy/Sell signals.
Step 2: After half an hour of market opening, check for Buy/Sell signals. Place your order above/below the ‘Price’ column in the table, selecting your preferred Stock/Index from the list.
Step 3: Set your stop loss as specified in the table.
Step 4: Make profit/loss decisions based on your risk appetite and ensure you close your entire position by the end of the day, as this strategy is designed for Intraday trading only.
Download the Amibroker AFL for this strategy here.
Also, explore a modified version of this strategy at the following link:
Frequently Asked Questions
Q: When should I execute my orders?
A: Place orders at 9:45 AM, which is half an hour after the market opens.
Q: What if the trigger price has already been reached by 9:45 AM?
A: In such cases, place orders at the Current Market Price (CMP).
Q: What should be my target profit?
A: Determine your target profit based on your risk tolerance and objectives, but we generally recommend around 2% to most of our students.
Q: Should I rely solely on this system for trading, or should I consider other indicators as well?
A: It’s advisable to seek confirmation from multiple indicators, but avoid overcomplicating your system.
Q: Can this strategy be used in the F&O market?
A: Yes, it can, but keep in mind that prices may vary for derivatives, so manual calculation of the trigger price may be required.
Q: What should I do if the BUY/SELL signal disappears after I initiate a trade?
A: With our latest sheet update, this situation should not occur. However, if you encounter it, please report it to us.