Today i am going to share another intraday trading strategy.
This is called Supertrend combo. In this we setup our system with 3 supertrends.
- Supertrend 7-3
- Supertrend 10-3
- Supertrend 11-2
- Awesome oscillator
You go long only when all the 3 indicators turn green in a 5 min chart. Also keep checking 15 min chart and 30 min chart periodically to reevaluate your positions.
For risk averse trader:
If awesome oscillator turns red, then be cautious and look out for MACD line. If it is also turning red and then exit even though supertrend indicators are all green. you may enter the same stock after sometime when supertrend is all green and awesome oscillator is back to green along with MACD
For risk taker:
Stay in positions as long as all of the supertrend indicators are green. If atleast one of them turns red then exit immediately.
I will post more updates on this strategy tomorrow when i follow this thoroughly without deviating.