Discover allows users to access numerous backtested sample strategies to get started with. You can view the performance of curated top performing strategies across sectors and also deploy them instantly.
Using the new search and filter feature, you can filter strategies based on position, chart type and indicators. Whether you want strategies based on overlay studies, momentum, volume and volatility, price action or chart patterns, you can use the filters to find the choice of your strategy in a minute.
Overlays: Overlay studies are displayed over the main price chart and include the following indicators- Moving averages(sma, ema, dema, tema, wma, tma), Bollinger bands, Parabolic SAR, Supertrend, VWAP, alligator and ichimoku.
Momentum: Momentum can be defined as acceleration or deceleration of the rate of change of price. Momentum indicators are useful for volatile market and include Relative Strength Index, ADX, Aroon, MACD, CCI, MFI, Willams %R, TRIX, PROC, MOM, Stochastic, TII and Chande Momentum Oscillator
More on Momentum
Example: The company's price changed from INR 2 in 2016 to INR 4 in 2017. The rate of price change increased from INR 4 in 2017 to INR 8 in 2018 and so forth.
Volume: These indicators account for volume data in their calculation and include OBV, Volume, Opening Range Volume and Moving Average Volume
Volatility: Volatility indicators measure how risky the current market is but does not determine a direction. In Technical Analysis, volatility is measured by True Range, Average True Range, Natr and vortex indicators.
More on volatility
Example: Company X has annualised volatility on 20%. It means after a year the current price INR 100 can go up by 20% to INR 120 or come down by 20% to INR 80.
'a'represents the price line in case the stock goes up. Similarly, 'b' represents the price line in case the stock goes down.
Price action: Price action is the movement of a security's price plotted over time and is indicated by the following indicators Opening range, Close, Open, High, Low, Pivot, Narrow range and Nth Candle.
Chart Patterns: The following candlestick chart patterns are currently supported- Morning Star, Spinning Top, Homing pigeon, Three while soldiers, Abandoned baby, Concealed baby, Stick sandwich, Engulfing, Kicking, Tri star and Advance block pattern.
You can now view the performance of a strategy on each instrument without opening the backtest result. This will enable you to go through all the major information about the strategy quickly. You can also read the strategy description to know more about the strategy. We have also added a view counter to display how many people are tracking the backtest result of the strategy.
Clicking on Deploy All would allow you to deploy the strategy and all instruments listed in the screenshot immediately. In case you want to deploy a specific instrument, you can click on the small Deploy button. If you want to view the whole backtest result, you need to click on "View Backtest" and then click on Edit to personalize the strategy as per your requirement.
The backtest result gets refreshed every single day to portray the performance in current market conditions and mentioned time frames.
Please note that these strategies are meant for inspiration and are not to be construed as recommendations. You can modify these strategies anyway you like before taking it live.