Your idea: NIFTY Gap-and-Go → Williams chain — strategy details (OptionsBuyer.in…

NIFTY Gap-and-Go → Williams chain — strategy details (OptionsBuyer.in · research data only, not investment advice) 1. The 10% opening-range breakout (NIFTY, gap-and-go bot) • Opening range (OR): the highest and lowest 1-minute CLOSING prices from 09:15 to 09:45, both minutes included (31 bars). Candle highs and lows are not used. • Width (W): OR high minus OR low. • Trigger levels: – Upside: OR high + 0.10 × W – Downside: OR low − 0.10 × W – Example: if the OR is 24,000–24,100, W is 100. A CE triggers when a 1-minute close goes above 24,110; a PE triggers below 23,990. • When it checks: 1-minute closes from 09:46 to 12:00. • Direction: the gap sets it. Gap = NIFTY's 09:15 price compared with the previous day's 15:15 close. After a gap-up the bot only takes the upside break; after a gap-down, only the downside break. • When the gap-and-go bot stands down: – The opposite band breaks first ("opposite_first"). – At the moment of the break, NIFTY has already touched yesterday's 15:15 close earlier in the day ("filled" — the gap already closed). – Nothing breaks by 12:00 ("no_break"). • Entry: on the next 1-minute bar after the signal, buy the 150-point in-the-money weekly option (CE on an upside break, PE on a downside break). 2. Williams levels (back-up bot) • Prior day's range (R): yesterday's highest minus lowest 1-minute close. • Levels: today's open + 0.5 × R (buy CE) and today's open − 0.5 × R (buy PE). • Trigger: the first 1-minute close beyond either level, from the hand-over minute until 14:29. • It only trades when the gap-and-go bot stood down with "opposite_first" or "filled", and only when the gap is under 0.2% or 0.5% and above. Not after "no_break", and never on 0.2–0.5% gap days. • Entry: next 1-minute bar, 150-point in-the-money weekly option. 3. Exits (same for both bots, on the option premium) • Stop-loss: exit when the premium falls to 70% of the entry price (−30%). • Trailing stop: once the premium has been above 105% of entry, exit if it falls to 80% of its highest point (20% pullback). • Time exit: flat at 15:15 if neither stop has hit. • Stops are checked on 1-minute closes; the exit fills on the next bar. One position per day at most. Backtest costs: 0.1% per side plus brokerage, taxes and fees; also tested at an extra 0.2% per side.