The OSPL signal feature of OI Pulse is a powerful tool that can help traders make informed decisions in the stock market. This feature is based on artificial intelligence (AI) and uses proprietary algorithms to identify trends and momentum in the market. By understanding how to use this signal, traders can increase their chances of success and make more profitable trades.
Accessing the OSPL signal is easy. It can be added as an indicator to your chart, but it is currently only available for “Go Annual Users.” A typical chart with the OSPL signal will look like the following:
Now, let’s go through a series of questions to understand the OSPL signal in more detail.
How to add OSPL Signal to Advance Chart in OI Pulse?
Follow the Steps in the image below to understand how to add an OSPL Signal indicator on the Advance Chart of OI Pulse.
How to Use OSPL Signal for Scalping?
The signal is generated by AI-driven programs that scan all the market variables like Price, Volume, Open Interest, VIX, and Global Markets on a live basis. These programs determine when a particular trend and momentum in a certain direction is likely to happen with high probability. When the systems calculate this probability, it will throw a signal that the market is likely to fall or rise.
What is the meaning of “In” & “Out” as per the signal?
The appearance of a signal means that a particular trend and momentum in a certain direction is likely to happen. “In” marks the triggering of such conditions, so you may start to enter a trade. For example, if the signal is a downward red arrow, it means that the market is likely to fall. In this case, you can look to buy Put options or short Future if you are a Future player. “Out” means that the conditions for the trend and momentum are no longer present, and you should exit the trade.
How to decide whether to buy CE or PE on the basis of the OSPL signal?
The decision to buy CE or PE options should be based on the direction of the signal. If the signal is a downward red arrow, it means that the market is likely to fall, so you should buy Put options. If the signal is an upward green arrow, it means that the market is likely to rise, so you should buy Call options.
For how long should we remain in trade?
The length of time that you remain in a trade will depend on your risk appetite and capital. It is important to plan your entry in a phased manner, so you can adjust your position as the market moves. You can also apply the Martingale system in this situation, depending on your capital and risk appetite.
When to make an exit from the trade?
The best time to make an exit from trade is when the conditions for the trend and momentum are no longer present. This can be determined by using the OSPL signal and looking for the “Out” signal. Additionally, once a certain profit is attained, it is recommended to trail the stop loss to lock in profits and reduce risk.
When not to trade further as per the OSPL signal?
You should not trade further when the conditions for the trend and momentum are no longer present, as indicated by the “Out” signal. Additionally, if the market is showing signs of volatility or uncertainty, it may be best to stay out of the market until conditions improve.
Summary
By understanding how to use this signal, traders can increase their chances of success and make more profitable trades. It is important to remember that the OSPL signal is just a high probability and nothing can be said with certainty, so it should be used in conjunction with other forms of analysis and risk management. Additionally, it is important to always have a well-defined trading plan, including entry and exit strategies, to ensure that you are able to make the most out of the OSPL signal feature.
In order to get the most out of the OSPL signal, traders should also keep an eye on other market indicators such as price, volume, open interest, and global markets. This will provide a more comprehensive view of the market and help traders make more informed decisions. Additionally, traders should also be aware of the different types of options available, such as CE and PE, and how they can be used based on the OSPL signal.
Overall, the OSPL signal feature of OI Pulse is a powerful tool that can help traders make more profitable trades. By understanding how to use this signal, traders can increase their chances of success and make more informed decisions in the stock market. With proper risk management and a well-defined trading plan, traders can maximize the benefits of the OSPL signal feature and achieve their financial goals.
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