Excellent video. I have a question. Is it possible to finetune the Pine script to identify the stocks that breakout the 52 weeks high for the first time? Should have entered Cochinship and Mazagon several years ago, so what is the use now? We need to identify stocks like Zomato which breaks out for the first time. Please suggest.
Can we have this as a screener to list down the stocks in tradingview. Since searching lot of stocks is really painful and we might miss some multibagger stocks in the process of doing analysis of each stock
Thanks for the information but the back test result doesn't give any profit rather only shows loss. Even in your video at 3:07 the strategy tester only shows loss. Will you be able to add additional validation in the same script as confirmation before taking the trade, in that case it will be beneficial for traders who blindly take your instruction and jump into it without back testing. Appreciate your efforts, just trying to make it more meaningful.
Instead of this... Can't we create a scanner in chartink or streak in which it scans the stocks which are about to break 52 week high/low and gives us the names in which we can take a trade... This pine script version needs to get applied to each and every stock which doesn't makes any sense... Secondly a stock already which crossed 52 week high or low has low scope of further movement in the same direction because stock will consolidate also so I don't that's a better approach to tag that stock as multibagger
A stock that hits a 52 week high will continue to make new 52 week high, same applies for 52 week low stocks. This is the basic principle behind momentum factor. Many retail traders get trapped with buying 52 week low stocks expecting it to bounce back, but they end up catching a falling knife. We can create alerts or scanners with Chartink or screener website, that notifies us when a stock hits 52 week high. But with TradingView, you get to access all instruments not only Indian equity, also it lets you backtest easily and with further modifications in the code, one can automate the execution as well.
@@SquareOff No offence kiru sir... Well decision to buy a stock hitting 52 Week high without the support of Volume and holding it till it hits 52 week low is not a very sensible approach as per my understanding.... For me Momentum without taking into account volume alongwith open to close relationship is of no use... Stocks do breakout of previous ranges because smart money checks the supply or demand above or below the ranges but most of these breakouts often are false..... Rest People do trade even on the basis of Moving averages, RSI and other price based indicators but nothing works in the long run if it is not accompanied with volume...this is what I feel....
This scripts is not working. Giving me below error. Can you help paste the exact PINESCRIPT used by you. "Cannot call 'hline' with argument 'price'='highestHigh'. An argument of 'series float' type was used but a 'input float' is expected."
Whats the difference in output or intelligence when we have technical analysis also handy! what is so special about 52 week strategy?
After downloading can't open the file. Can you publish this in trading view so that we can directly access and add it?
Please use notepad to open the file
Excellent video. I have a question. Is it possible to finetune the Pine script to identify the stocks that breakout the 52 weeks high for the first time? Should have entered Cochinship and Mazagon several years ago, so what is the use now? We need to identify stocks like Zomato which breaks out for the first time. Please suggest.
Yes you can mention the same to ChatGPT which will create the necessary code for that
Can we have this as a screener to list down the stocks in tradingview. Since searching lot of stocks is really painful and we might miss some multibagger stocks in the process of doing analysis of each stock
Thanks for the information but the back test result doesn't give any profit rather only shows loss. Even in your video at 3:07 the strategy tester only shows loss. Will you be able to add additional validation in the same script as confirmation before taking the trade, in that case it will be beneficial for traders who blindly take your instruction and jump into it without back testing. Appreciate your efforts, just trying to make it more meaningful.
It is because the backtest doesn’t consider open positions, where most of the profits shown has come from open positions
Superb sir✨❤️
Can it be used for trading Indices?
Yes
Great Sir . 👍 😊🎉❤
Thanks. Good work
Thank you for your unique videos.
Please make a video on how to analyse choosen multibagger stocks fundamentally.
Instead of this... Can't we create a scanner in chartink or streak in which it scans the stocks which are about to break 52 week high/low and gives us the names in which we can take a trade... This pine script version needs to get applied to each and every stock which doesn't makes any sense... Secondly a stock already which crossed 52 week high or low has low scope of further movement in the same direction because stock will consolidate also so I don't that's a better approach to tag that stock as multibagger
A stock that hits a 52 week high will continue to make new 52 week high, same applies for 52 week low stocks. This is the basic principle behind momentum factor. Many retail traders get trapped with buying 52 week low stocks expecting it to bounce back, but they end up catching a falling knife.
We can create alerts or scanners with Chartink or screener website, that notifies us when a stock hits 52 week high. But with TradingView, you get to access all instruments not only Indian equity, also it lets you backtest easily and with further modifications in the code, one can automate the execution as well.
@@SquareOff No offence kiru sir... Well decision to buy a stock hitting 52 Week high without the support of Volume and holding it till it hits 52 week low is not a very sensible approach as per my understanding.... For me Momentum without taking into account volume alongwith open to close relationship is of no use... Stocks do breakout of previous ranges because smart money checks the supply or demand above or below the ranges but most of these breakouts often are false..... Rest People do trade even on the basis of Moving averages, RSI and other price based indicators but nothing works in the long run if it is not accompanied with volume...this is what I feel....
@Invincible-trader agreed, volume filter can also be added in the given condition
Good one. Thanks. Pine script is not available in the description.
It’s mentioned in the description, you can click on google drive link to download the pine script file
@@SquareOff Thanks got it
@@SquareOff this strategy did not generate any orders throughout the testing range. I'm getting this message. What to do?
@sachintr2201 the script you are trying to test did not meet the condition, you need to choose a different stock
@@SquareOff I tried the stocks which you mentioned in the video like Cochin shipyard. Still the same result.
Thanks a bunch. It worked.
Glad it helped
SUPERB👍👍👍👍👍👍
Great sir
One of the finest videos Thanks a lot !!!
Valuable Information
PLE DO VIDEOS ON SHORTCUT BASIS DO IN DETAILED BASIS
This scripts is not working. Giving me below error. Can you help paste the exact PINESCRIPT used by you.
"Cannot call 'hline' with argument 'price'='highestHigh'. An argument of 'series float' type was used but a 'input float' is expected."
Code is Not Visible
Sir Hindi create video