#TRADING
A simple intraday trading strategy:

Timeframe :
Preferably 5 min

Instrument :
Preferably BankNifty Futures

Technical tools required :
a) Standard Pivots (Floor Pivots)
b) Accumulation distribution indicator or OBV indicator
c) RSI13 (can customise)

1/n

Concept:
Entering into a trade based on leading indicators that are derived from only price and volume complemented by RSI to ascertain the strength of trend.
AccumDist = [(C-O) / (H-L) ] x Volume

2/n

If AccumDist is positive, then C > O and if it is sloping upwards, then C > O along with increase in Volume. Viceversa for negative. Running total of AccumDist provides Cumulative AccumDist which is available in all technical softwares.

3/n

Logic:
Buy only if price crosses upper floor pivot range and AccumDist is above its 50 period EMA and RSI13 > 50.
Stop is few points below Central Pivot
Target is R1 for 50% of positions and for balance keep trailing.
Reverse is for short.

4/n

Important : Do Not enter into a trade if price is hovering above upper floor pivot range or lower floor pivot range. Enter only close to upper or lower pivot range / crossover of upper or crossunder of lower pivot range.

5/n

Visually tested with ONLY banknifty futures. Appears to be effective. Do not have sufficient historical data for a proper statistically significant backtesting. Members can try backtesting and post the results provided sufficient historical data available.