This strategy has recently gained momentum among the day trading community.
To learn how this simple strategy works read this article:
To trade this strategy on stocks with NSE you need the below setup to identify bull flag pattern while they are still forming.
METHOD 1 : Using Investar Stock Screener
1) Investar software (5 day Free Intraday Trial) from http://www.investarindia.com/
2) Apply the following settings on Investar software toolbar:
SCANS FILTER >> NSE >> F&O Scrips.
SCANS/ADVISOR >> TIMEFRAME 1-MIN > UPDATE FREQUENCY 1-MIN
3) Create a NEW COMPOSITE SCAN with these settings:
4) Predefined Intraday Scan settings >> 1) Gainers on Strong Volume (last 3 bars) 2) New day highs 3) Strengthening Uptrend
Filter Criteria on Composition >> 1) Close: set values 100 and 750. 2) Change percentage : between 0 and 25.
5) Now save and tick your new scanner for live screening.
6) Once the stocks are identified on the scanner, follow them up on your trading terminal charts to position your trades.
METHOD 2 : Using Zerodha Pi Scanner.