BankNifty_Bearish_Intraday

The script uses following mechanism to give a signal of SELL if multiple parameters evaluated are all passed.

ENTRY-
1. 5 min MACD should be less than its previous tick
2. 15 min MACD should be less than its previous tick
3. 60 min MACD should be less than its previous tick
4. ADX should be more than 12
5. RSI should be less than 40
6. Stochastic %k should have negative cross over with %d
7. Bollinger band lower band value should be less than previous tick

EXIT
If the 5 min bar price closes above 5 min EMA , it gives an exit signal.

Notas de prensa:

Added a condition to evaluate MACD on 5 minute time frame whether it is below zero line or not.