Strategy description

OpenRange Buy – Auto Index Picker

(NIFTY 50 · BANK NIFTY · SENSEX)

by Goutham ALGOs

Base Capital Example: ₹25,000

OVERVIEW

OpenRange Buy – Auto Index Picker is a systematic intraday options buying strategy that monitors Nifty 50, Bank Nifty, and Sensex, but executes only ONE index trade at a time, based on the strongest momentum.

The model operates on a 1-minute timeframe, capturing fast-moving directional moves using a fully automated, rule-based approach.

Engineered for traders who prefer:

1. Structured, rules-driven execution
2. Fully automated entries
3. Direction + momentum decision-making
4. Zero emotional interference

This version carries extremely high risk because it uses no Stop Loss and no fixed Target, resulting in unlimited profit and unlimited loss potential.

STRATEGY CONCEPT

The algo scans all three indices (Nifty / BankNifty / Sensex) and:

1. Tracks early price action
2. Detects momentum pressure
3. Auto-picks the index with the strongest signal
4. Executes either Call Buy or Put Buy
5. Keeps only one open trade at a time

Core Mechanics

1. Multi-index scanner
2. Auto-selects 1 index to execute
3. Real-time momentum-based entry
4. No Stop Loss (Unlimited Loss Possible)
5. No Fixed Target (Unlimited Profit Potential)
6. Strictly intraday — no overnight positions
7. 1-minute candle logic for fast execution

This setup creates a high-risk, high-reward environment.

TRADE OPERATING TIMINGS

1. Start: 9:15 AM
2. End: 3:05 PM
3. Timeframe: 1-minute candles

CAPITAL & RISK STRUCTURE

1. Estimated trades per month: ~200
2. Maximum simultaneous positions: 1
3. Expected Drawdown: Unlimited (no SL)

TRADE TARGET & RISK

With no SL and no target:

1. Profit Potential: Unlimited
2. Loss Potential: Unlimited

This is an extremely aggressive strategy.

Users must accept full capital risk.

PERFORMANCE CHARACTERISTICS

1. High-frequency, systematic model (~200 trades monthly)
2. Multi-index momentum scanner
3. Daily P&L may fluctuate heavily
4. Monthly performance is more meaningful
5. Not suitable for conservative traders
6. Designed for those who accept large drawdowns

USER RESPONSIBILITIES

Daily API Token Setup

1. Generate API token between 8:30–9:00 AM
2. Ensure token is active before market opens
3. Verify API connection after generation

Error & Notification Handling

1. Notifications via Tradetron / WhatsApp
2. Check logs immediately when alerted
3. Contact Telegram support if needed

BEST PRACTICES

1. Maintain stable internet throughout market hours
2. Avoid manual interference unless necessary
3. Do not add/withdraw capital during live trading
4. Track performance monthly, not daily
5. Understand the high-risk nature (no SL, no target)

KEY POINTS

1. Fully automated, no manual decisions
2. No averaging / no martingale
3. No SL & No Target → Unlimited Profit & Unlimited Loss
4. One position at a time
5. Auto-selects 1 index out of Nifty / BankNifty / Sensex
6. Built to aggressively capture momentum moves

DISCLAIMER

Important Risk Disclosure

1. Market trading involves significant financial risk.
2. Removing Stop Loss exposes the entire capital to unlimited loss.
3. Slippage, API failures, and platform issues may affect results.
4. Past results do not guarantee future performance.
5. Goutham ALGOs is NOT SEBI-registered.
6. Use real capital only if you fully understand and accept the risk.
7. Consult a certified financial advisor before trading.

SUPPORT

Email: [email protected]