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Testing and Optimising a Free Pivot Point Supertrend PineScript strategy for Nifty futures

The Trading view web platform along with its easy to grasp PineScript language has been a boon to the traders and TV has a free to use collection of users-coded scripts that can be used by any free user of TV.

In this blog post lets test a free available strategy on nifty futures data and optimise it for different timeframes. I will also be sharing the settings of the strategy I found to be most profitable.

The Strategy is based on pivot point supertrend indicator by Lonesome Theblue here

I have applied this strategy to Nifty futures chart and found the equity curves as follows.

For a 5 minute Nifty futures chart, the following settings were used.

The equity graph and the strategy metrics were as follows.

For a 1 hr chart, the ATR multiplier of 5 was used and best results with about 80% winning trades were seen when only long signals were taken.

With both long and short signals, this settings were used.

The equity graph for 1 hr Nifty futures chart with both long and shorts is here.

With only long signals taken, the equity graph looks much better.

So there it is, the Nifty futures supertrend strategy on 5 min and 1 hr chart.

Please use your own judgement and test the strategy before using.

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