Signal Algo - Elephant Edge Strategy

🔶Strategy Overview:
This strategy is designed for intraday trading and focuses on taking trades near important price reference areas instead of random market locations.

This strategy is designed to:

• Take trades only near important price levels
  
• Avoid random mid-market entries
  
• Validate every trade using multiple confirmation filters
  

It combines the following core concepts:

• Elephant Edge zones based on previous session volatility
  
• Index & F&O strike price levels (psychological and liquidity-based levels)
  
• Previous Day OHLC levels (important institutional reference prices)
  

The goal of this strategy is to allow trades only when price behavior is meaningful and occurs near key market reference areas, while filtering out low-quality signals. All filters are optional, allowing traders to customize the strategy according to their trading style, risk preference, and market conditions.

🔶 How to Use: Elephant Edge Support–Resistance



This strategy is based on the Elephant Edge Support–Resistance concept, where trades are taken only near important price zones instead of random market areas.

The image above shows how the strategy identifies Support Zones, Resistance Zones, and how trade entries and exits are generated.

🟩 Support Zones:
Shown as green areas. These are considered potential Buy zones.
A positive price reaction from these zones is required before a Buy entry is generated.

🟥 Resistance Zones:
Shown as red areas. These are considered potential Sell zones.
Price rejection from these zones is required before a Sell entry is generated.

Important:
The strategy does not blindly buy or sell at the zone. Entries are generated only after additional confirmation, such as: Candle structure validation, Directional filters, Optional, volume and time filters (if enabled)

Trade entries are generated only when price touches a Support or Resistance zone.
These zones represent areas where price is more likely to react, helping to avoid low-quality trades during sideways or random market movement.

Final Understanding:
This strategy is not about predicting the market. It is about reacting to price behavior at important levels and trading only when conditions are meaningful.


🔶 How to Use: Index Strike Price Support–Resistance



This concept is based on *Index & F&O Strike Price levels*, where trades are taken near important *round-number strike prices* (for example: every 50 or 100 points), instead of random price locations.

The image above shows how *strike prices act as natural Support and Resistance levels** in index trading.

🟩 Strike Price Support:
Strike levels below the current price act as potential Support zones. Price reaction from these levels is required before a Buy entry is generated.

🟥 Strike Price Resistance:
Strike levels above the current price act as potential Resistance zones. Price rejection from these levels is required before a Sell entry is generated.

Trade entries are generated only when price touches or reacts near a strike price level.
These levels represent *psychological and liquidity-based areas*, where price is more likely to pause, reverse, or react.


🔶 How to Use: Previous Day OHLC Levels



This concept is based on *Previous Day Open, High, Low, and Close (OHLC)* levels, which are widely used as *important market reference prices* by traders and institutions.

The image above shows how price reacts around Previous Day OHLC levels and how they act as natural *Support and Resistance areas** during intraday trading.

🟩 Previous Day Support Levels:
Previous Day Open, Low, or Close levels below the current price act as potential Support zones.
A positive price reaction from these levels is required before a Buy entry is generated.

🟥 Previous Day Resistance Levels:
Previous Day Open, High, or Close levels above the current price act as potential Resistance zones. Price rejection from these levels is required before a Sell entry is generated.

Trade entries are generated only when price touches or reacts near a Previous Day OHLC level.
These levels represent *high-interest price areas* where price is more likely to pause, reverse, or show strong reactions.

🔵 Strategy Setting Features Overview :

Trade Direction Controls : -
Buy Only When enabled: The strategy will generate only Buy trades All Sell signals are ignored Sell Only When enabled: The strategy will generate only Sell trades All Buy signals are ignored
Important Note If both Buy Only and Sell Only are enabled: The strategy can generate both Buy and Sell trades

Candle Direction & Color Filter : -
Available Options:
Both - Candle color is ignored Trades depend only on strategy logic
Trend - Buy → Green candles only. Sell → Red candles only
O-Trend - Buy → Red candles only. Sell → Green candles only

Continuous Buy / Sell Check : -
When enabled: Prevents repeated trades in the same direction Reduces over-trading during sideways markets Example: After a Buy trade, another Buy trade will not be taken immediately unless conditions reset.

Elephant Edge Percentile Levels : -
When enabled: Buy trades are allowed only near lower percentile levels Sell trades are allowed only near upper percentile levels
Why this matters: Percentile levels act as dynamic intraday support and resistance based on historical price movement.

Strike Price Level Filters : -
When enabled: Buy trades require price to touch lower strike zones Sell trades require price to touch upper strike zones
Why strike levels are important: Strike prices often act as psychological and liquidity zones, especially in index trading.

Previous Day OHLC Levels : -
When enabled: Draws Previous Day Open, High, Low, and Close on the chart Trades are allowed only when price touches any of these levels
Why Previous Day levels matter: These levels are widely watched by traders and institutions Price often reacts strongly near them Helps filter out low-probability trades

Stoploss Settings : -
Candle Touch: Stoploss triggers immediately when price touches the level
Candle Close: Stoploss triggers only after candle closes beyond the level
Stoploss Type Choose how stoploss distance is calculated:
Candle High / Low
Fixed Points
Percentage based

Trailing Stoploss : -
Trailing stoploss helps protect profits as price moves favorably. Trailing Mode
Points
Percentage
Trailing Activation Defines how much profit is required before trailing starts.

Candle Structure Filters : -
Candle Size : Filter Avoids trades on: Very small candles (low momentum) Extremely large candles (high risk)
Candle Body : Filter Ensures trades are taken only on candles with sufficient body strength.
Wick Filter : Filters out candles with unusually long wicks, which often indicate fake breakouts.

Hammer Candle Detection : -
Enable Hammer Pattern Detects hammer-type candles using wick-to-body ratios.
Useful for: Reversal-based setups near key levels

Entry & Stop Buffers : -
Buffers add small offsets to: Entry price Stoploss price
Purpose: Helps avoid false triggers caused by small price spikes or noise.

Volume-Based Validation : -
Use Volume Alert Validity Trades are allowed only after a high-volume candle appears.
Why volume matters: High volume confirms participation and interest.

Time & Trade Limits : -
Entry / Exit Time Restricts trades to specific market hours. Trade Count Limits Controls the maximum number of trades per session to avoid over-trading.

Quantity Calculation: -
Investment Amount Automatically calculates trade quantity based on capital amount.
Benefit: Helps maintain consistent risk across different instruments.

JSON Alert Output: -
Used for: Automation Broker integration This does not affect strategy logic.

⚠️ Disclaimer This strategy is provided for educational and research purposes only. Past performance does not guarantee future results. Users should test and manage risk independently.