Intraday EMA + Supertrend 5 min strategy
Now this strategy is very simple and effective. We need a trending stock or index first not in a range bound.
1. 5 min timeframe
2. Supertrend with setting (5, 1.5)
3. Ema 48 period with High for plotting
4. Ema 48 period with low for plotting
Strategy is simple:
1. Ema forms a channel, when stock(trending stock not sideways) above channel we look for buy entries and when below we look for sell entries.
2. We only take buy entries when a green candle touches supertrend support line and above EMA channel.
3. We only take sell entries when red candle tocuhes supertrend suppport/resistance line and below EMA channel
4. Stop loss is simple just when price cross opposite site of Supertrend we exit trade.
6.Stop loss can be trailed using Supertrend line which is using ATR.
Voila ….. setup is simple and effective with good Risk reward ratio as we are enter near to support /resistance of Supertrend.