Guys, this is a very simple setup, but very effective. It's what is called a rectangle pattern, which is usually a sign that market is consolidating in a range. Also a range contraction. Usually after this contraction, there will be an expansion. 
When the range is broken on either side, the trade is on that particular direction. If the price breaks and closes above the rectangle with sizable volume, it's a long trade. If the price closes below the rectangle with sizable volume, it's a short trade.
Your stop loss would be slightly below/above the opposite end of the rectangle from where your entry is, respectively. And you trail the stop loss.
No, this is not a holy grail. This is usually the behavior of the market. In these trading ranges, the volatility reduces, and the price range contracts. Usually after a range contraction and period of lower volatility, there will come a period of higher volatility and expansion.
Now your homework is - go through the charts for past 5 years on Zerodha or wherever you watch charts. Mark such consolidation rectangles in all stocks/nifty/banknifty. Mark the entry points, trail SL accordingly and in an excel sheet, put your entry, SL, exit accordingly.
If you can test this thoroughly for 5 years, and you see that it has a good win-rate (we'll discuss this later once you have the excel file with all the entry/exits for this setup in last 5 years), you can then do forward testing and then live trading.
As with all setups, there will be winning trades, there will be losing trades. Some of the breakouts above the rectangle and breakdowns below the rectangle would fail and might hit your SL too. But wins would cover more and you'll be net positive over a series of trades.
Try this out as your homework for this week. Spend all weekend testing this one thing alone. Focus single mindedly. And see where you can get through with the charts. 3m/5m/10m timeframe if intraday. 30m, 1H timeframes if positional. Less than 3m too noisy.
Btw, you can find many such examples of rectangle breakout on @Mitesh_Engr tweets timeline.
