10% Every Day in Bank Nifty and Nifty

 

Super Trend Indicator: Step-by-Step Guide

In this guide, we'll discuss how to use the Super Trend Indicator step-by-step. Let's go to the chart and see how it actually works and where to find it.

Step 1: Add Super Trend Indicator to the Chart

1. Open the Chart: Go to your trading platform and open the chart you want to work on (e.g., Bank Nifty or Nifty).
2. Go to Studies: Click on the 'Studies' or 'Indicators' option in the chart toolbar.
3. Search for Super Trend: Type 'Super Trend' in the search bar.
4. Add Super Trend: Select the Super Trend indicator from the list and apply it to the chart.

Step 2: Understand Super Trend Signals

1. Green Line (Buy Signal): When the Super Trend shows a green line, it is a buy signal, indicating an uptrend in the market.
2. Red Line (Sell Signal): When the Super Trend shows a red line, it is a sell signal, indicating a downtrend in the market.

Step 3: Identify Breakout Entries

1. Breakout Candle: When the Super Trend changes from red to green, it is the breakout candle. This candle gives a buy signal.
2. Confirmation Candle: After the breakout candle, the next candle's body should close above the breakout candle's body. This is called the confirmation candle.
3. Take Entry: Enter the trade only after the confirmation candle is formed.

Step 4: Identify Breakdown Entries

1. Breakdown Candle: When the Super Trend changes from green to red, it is the breakdown candle. This candle gives a sell signal.
2. Confirmation Candle: After the breakdown candle, the next candle's body should close below the breakdown candle's body. This is called the confirmation candle.
3. Take Entry: Enter the trade only after the confirmation candle is formed.

Step 5: Wait for the Confirmation Candle

1. First Five Candles: After the breakout or breakdown candle, the confirmation candle should form within the first five candles. If it doesn't, avoid the trade.
2. Confirmation Example (Nifty Chart): For instance, on the Nifty chart, if the fourth candle after the breakout candle confirms, it is considered valid, and an entry should be made. This setup yielded good profits as the market moved significantly.
   • If the confirmation candle forms within the first five candles, it is valid.
   • If the sell level is more than 30 points (Nifty) or 100 points (Bank Nifty), avoid the entry.

Step 6: Understand Breakdown Confirmation Candle

1. Breakdown Confirmation Candle: The breakdown candle is the one that closes below the Super Trend line and breaks the previous low.
2. Candle Count: This confirmation candle should form within the first five candles (first, second, third, fourth, or fifth). If it forms within this time, take the entry.
3. Bank Nifty Example: For example, in Bank Nifty, a candle tested the Super Trend and then faced rejection, giving a good return.

Step 7: Follow Trading Rules

1. Exit Rules: Exit the trade if a candle closes against the breakout or breakdown candle level.
2. Trailing Stop Loss: Use a trailing stop loss to capture larger profits.
3. Set Targets: Aim for a minimum target of 10% per trade.

Step 8: Identify Reversal Trades

1. Reversal Trade: When the market tests a resistance or support level and then reverses, it is a reversal trade.
2. Entry at Resistance: If a candle tests the Super Trend and closes below it (sell signal), take the entry. The color of the candle is not important.
   • Example: A green candle tests the Super Trend and closes below it; this is a sell entry.
3. Entry at Support: If a candle tests the Super Trend and closes above it (buy signal), take the entry. The color of the candle is not important.
   • Example: A red candle tests the Super Trend and closes above it; this is a buy entry.
   • Expect a minimum return of 10%.

Step 9: Situations to Avoid Entry

1. No Entry without Confirmation: Do not enter if a candle approaches the Super Trend but does not face rejection.
2. Check Candle Size: Avoid entry if the candle size is too large (more than 30 points for Nifty, more than 100 points for Bank Nifty).

Step 10: Practice and Testing

1. Test on Historical Data: Use past data on charts to test the Super Trend indicator.
2. Understand Rules: Fully understand all rules and follow them.
3. Trade: Use this indicator in your live trades once you understand clearly.

Step 11: Use According to Time Frames

1. Intraday Trading: Use on a 5-minute time frame.
2. Swing Trading: Use on 15-minute, 1-day, or 1-week time frames.

Step 12: Lack of Big Rally in Bank Nifty

1. Resistance Causing No Rally: Bank Nifty had a resistance of around 44,160 due to the Super Trend, which the market could not break, preventing a big rally.
2. Importance of Confirmation: For confirmation before taking a trade, check the 15-minute time frame while trading on the 5-minute time frame. If both time frames show the same signal, take the trade. This increases the success rate of your trade.

Step 13: Super Trend Settings

1. Default Settings: On Upstox, use the default Super Trend settings with a length of 7 and a factor of 3.
2. Other Broker Settings: On Other Broker, set the Super Trend (only available in the course lecture). 

This step-by-step guide helps you understand how to use the Super Trend Indicator effectively. Follow these rules and practice, and you will see amazing results.

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