Nifty scalping 3 minutes options on Dhan

8 sept.

Strategy Description for Publishing: Nifty Scalping 3 Minutes Options on Dhan
Overview:
The Nifty Scalping 3 Minutes Options on Dhan strategy is an enhanced version tailored for trading Nifty Options, building on the core logic used in the previously published Nifty Scalping 3 Minutes Strategy. This strategy provides automated order execution via JSON alerts for seamless integration with the Dhan platform, enabling hands-free options trading.

This system is designed to capture short-term market moves using a combination of technical indicators like the Jurik Moving Average (JMA), Exponential Moving Average (EMA), and Bollinger Bands, while also allowing traders to manage risk effectively with custom inputs for maximum loss per lot and partial profit booking.

For more details on the core logic and performance of the strategy, please refer to our earlier published strategy:
Nifty Scalping 3 Minutes Strategy https://in.tradingview.com/script/9uThEcOc-Nifty-scalping-3-minutes/

Key Features:
JMA and EMA Crossovers: Trades are executed when the Jurik Moving Average (JMA) crosses over (for long trades) or under (for short trades) the Exponential Moving Average (EMA), signaling trend direction.
Price-Volume Spike Detection: Ensures that trades are executed only when significant market activity is detected, avoiding low-momentum conditions. Price-volume relationships are monitored to confirm the strength of market movements.
Bollinger Band Noise Filter: Filters out low-volatility periods by executing trades only when prices break through the upper or lower Bollinger Bands, confirming high volatility.
Customizable Risk Management: Traders can set their own maximum risk per lot (e.g., ₹650), and the strategy adjusts the stop-loss accordingly to ensure that no trade exceeds this threshold.
Partial Profit Booking:A predefined percentage (e.g., 60%) of the position can be booked as profit once the first profit target is reached, with the remaining position trailed using an ATR-based stop.
STBT/BTST Support: The strategy offers the flexibility to carry trades overnight, supporting Sell Today, Buy Tomorrow (STBT) and Buy Today, Sell Tomorrow (BTST).
Time-Based Exit: The strategy automatically closes any open positions by 3:20 PM to avoid the volatile end-of-day market conditions.

Inputs for Traders:

1. Option Quantity: Select the number of contracts to trade (e.g., 10).
   
2. Maximum Risk Per Lot: Set your maximum allowable loss per lot (e.g., ₹650), ensuring that your risk is managed effectively.
   
3. Partial Profit Booking Percentage: Define what percentage of your position to book as profit (e.g., 60%) when the first target is hit.
   
4. STBT/BTST Option: Choose whether to allow positions to be carried overnight.
   
5. Alert Secret Key: Input your secret key for the Dhan platform to trigger automated orders via JSON alerts.
   
6. Option Expiry Date: Specify the expiry date for the options being traded.
   

Trade Logic:

• Long Trades: Triggered when JMA crosses above EMA, supported by filters like price-volume spikes and Bollinger Band breakouts. The strategy waits for momentum confirmation before entering long trades, with stop-loss and profit-taking mechanisms in place.
  
• Short Trades: Triggered when JMA crosses below EMA, with confirmation through additional filters to ensure strong market trends before entering short positions.
  
• Risk Management:
  
• Stop-Loss: A dynamic stop-loss is placed for each trade based on the trader's maximum risk per lot. The stop-loss adapts to market conditions using ATR trailing stops to capture further gains as the trade progresses.
  
• Partial Profit Booking: Once the first profit target is hit (2.1x risk for long trades and 2.5x risk for short trades), a percentage of the position is booked as profit, and the remainder is trailed using an ATR stop.
  
• Automation via JSON Alerts:This strategy sends automated JSON alerts to the Dhan platform for seamless execution of orders. The alerts support multi-leg orders for both entry and exit, ensuring that trades are executed efficiently without manual intervention.
  

Why Use This Strategy?

The Nifty Scalping 3 Minutes Options on Dhan strategy is perfect for traders who want to capitalize on quick market moves in options, backed by strong risk management and automation. With automated alerts, customizable inputs, and advanced technical filters, this strategy is ideal for traders looking to engage in high-probability options trades with minimal effort.

For more detailed information about the underlying logic, you can refer to the previously published Nifty Scalping 3 Minutes Strategy here. https://in.tradingview.com/script/9uThEcOc-Nifty-scalping-3-minutes/

Disclaimer:
This strategy is provided as an educational tool, and we are not affiliated with or sponsored by Dhan. The strategy integrates with the Dhan platform for automated trading, but there is no formal relationship between this strategy and Dhan.

18 sept.

Notes de version

Short SL bug fixed

18 sept.

Notes de version

Bugs fixed

16 oct.

Notes de version

update

1. Dynamic Expiry selection in auto
2. SL by Super trend (Heikin Ashi Based) instead of ATR based SL
3. Option to select Option ATM/OTM/ITM
4. Slight Tweak in Volume indicator for more profitability. Volume > 1200000 (Minimum) for long and Volume > 100000 (minimum)

24 oct.

Notes de version

1. Stike price date calculation corrected
2. Exit logic modified, no on any sudden price change or more than 0.2% in 2 candles, profit will be booked.

25 oct.

Notes de version

1. Volume Parameter changed to constant from input variable. Volume multiplier is 3 times the average volume.
2. Additional impulse profit booking added. Now startegy will bokk profit if there is sudden implulse in price movement more than 0.2% in 2 consecutive candles.
3. Code to Book target at R/R at 1:1 is removed.

5 nov.

Notes de version

1. exit strategy optimised and made flexible

6 nov.

Notes de version

1. updated for exit startegy, Now strategy will exit on RSI divergence also.
2. Long conidtion for BB is altered, Now Long is applicable if Close>upper with multiplier 1.8
3. Short condition is same for BB
4. Corrected the Booked qty variable reseting after completion of trade.

Profitablility has improved due to these changes.

11 nov.

Notes de version

strategy.close replaced with startegy.exit for first target exit

21 nov.

Notes de version

FOLLOWING UPGRADES ARE DONE IN STRATEGY
1. Early exit on next candle from trade entery if strong opposite conditions are detected
2. SL logic is changed from SL at close to SL by Stop order
3. Dynamic Target level Setting

22 nov.

Notes de version

1. Improved the SL Logic & Divergence exit logic. Base logic is same but bug is removed.

22 nov.

Notes de version

Time filter bug fixed

25 nov.

Notes de version

Exit time fixed

26 nov.

Notes de version

The script has been updated with significant enhancements in both entry and exit strategies to improve trade efficiency and capture better profits from option premiums. Key updates include:

Entry Conditions Enhanced with RSI:

Long conditions are now valid only when:
RSI(Close, 14) < 85, and
The 14-period RSI Moving Average is increasing.
Short conditions are now valid only when:
RSI(Close, 14) > 15, and
The 14-period RSI Moving Average is decreasing.
SuperTrend Integrated for Exit Conditions:

Exits are triggered if the SuperTrend (25, 8) is not aligned with the trade direction, combined with RSI-based rules:
For long positions: Exit if RSI(Close, 12) > 85.
For short positions: Exit if RSI(Close, 12) < 15.
These updates refine the strategy, making it more robust by dynamically responding to RSI trends and using SuperTrend for better directional validation during exits.

26 nov.

Notes de version

New Entery Condition: if we exit due to Volume condition on next candle of our entery candle the the we will take opposite trade with R/R or 1:1:5. SL will 25 points or high or low which ever is higher as per trade condition.

RSI<85 for long and RSI>15 for short is removed

il y a 6 jours

Notes de version

Following logics are updated
1. RSI divergence LBR is now 1, LBL is now 10
2. First target is set now as Max 60 points to take advantage of quick movement, This modification is done based on backtest results and keeping in mind the strategy is meant to trade options.

il y a 6 jours

Notes de version

Short Target Formula Correction