How to get Bank nifty Option entry value

Keyword help
#1

Currently, I am developing a strategy that revolves around the range breakout concept. I have successfully identified the right timing and conditions for entering positions. However, I am encountering a challenge when it comes to determining the exit condition.

Specifically, my exit condition is as follows: once my entry is triggered at a certain option price (e.g., 200 rs), I aim to exit the position when that option price reaches 280 rs.

I am not able to figure it out, how to write exit condition for it, it would be great if any one helps me in it.

#2

@aditya_toke, could you elaborate a bit about your exit criteria? Is it something like you need to exit when the price goes up by 40%?

#3

@IDTrader
I would like deal with change in price rather than change in percentage, if price is increased by 50rs from the strike price then exit, no matter what the percentage change for it be.

#4

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I guess this might get the job done for you. Let me know if you need a bit more explanation since I do not know your level of knowledge in tradetron strategy creation.

#5

@IDTrader

My knowledge with tradetron is very basic.
I got this but instead of using Bank nifty entry price, I need to add that +50 on entry price of Bank nifty option

#6

The above mentioned code does exactly that. It tracks the option price, not the spot price.

It checks if the LTP of the traded option is greater than (entry price of option + 50). Suppose your entry price is 200, it keeps checking if the LTP is greater than 250 and once it is above 250, the order is triggered.

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#7

@IDTrader got it thanks for the answer

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