Nifty Supertrend Entries with Percentage Stops and Targets

Summary

This script outlines a long-only Supertrend strategy intended for NIFTY and other liquid markets. It enters when the Supertrend direction changes from bearish to bullish, then closes the position if the indicator reverses bearish. While the position is open, it places a stop at 15% below the average entry price and a target at 30% above it. The Supertrend uses a stated ATR period of 10 and factor of 3.0. The script also plots the indicator and marks entry and reversal signals on the chart.

The document offers the rules and parameters but no backtest results or evidence that the settings are profitable. Although the description mentions intraday and short-term use, no chart timeframe or session rule is specified. Alerts are included for entry and exit, but are implementation details rather than evidence of trading performance. The stated educational caveat is relevant: market conditions change, and the strategy's behavior would need evaluation for the instrument, timeframe, costs, and execution conditions being considered.

Key ideas

• A long entry occurs when Supertrend changes from bearish to bullish.
• A bearish Supertrend reversal closes the long position.
• The stated stop and target are 15% below and 30% above average entry price.
• The strategy uses a Supertrend ATR period of 10 and factor of 3.0.
• The document provides no backtest results or timeframe-specific validation.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.