Hi Guys,
I have been working for some time to develop a new concept where the forecasting would be done not based on historical price data or any statistical form of it. This indicator is derived from options volume statistics and it correlates very well with NIFTY movement.
I try to use any anomaly or divergence formed between NIFTY and my indicator (developed in an excel sheet) and forecast the immediate next moves.
I also use a specialized hedging strategy by covering my futures position with selling OTM options in a particular ratio.
The rationale, daily forecasting blog, trading strategy and monthly performance are published in a website which can be accessed here.
I am giving the weblink because it is not possible to detail everything in a forum page but I am happy to discuss and accept ideas to develop the concept further.
I have been working for some time to develop a new concept where the forecasting would be done not based on historical price data or any statistical form of it. This indicator is derived from options volume statistics and it correlates very well with NIFTY movement.
I try to use any anomaly or divergence formed between NIFTY and my indicator (developed in an excel sheet) and forecast the immediate next moves.
I also use a specialized hedging strategy by covering my futures position with selling OTM options in a particular ratio.
The rationale, daily forecasting blog, trading strategy and monthly performance are published in a website which can be accessed here.
I am giving the weblink because it is not possible to detail everything in a forum page but I am happy to discuss and accept ideas to develop the concept further.
Developing a new proprietary indicator for trading NIFTY
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