This strategy is mainly developed for scalping / intraday trading. It could potentially be used to identify entry/exit signals for short term options trading. It performs decently well on popular stocks when used on time frames between 5 min to 15 min using regular session bar data. It combines 3 popular indicators, EMA, MACD, and William %range, to generate both long and short signals.
EMA: Default is 200 EMA line.
MACD: Default is 12/26 lengths for fast/slow signal inputs.
William %R - Smoothed (Published): This is a custom indicator that generates two moving average lines from the original William %R line.
How it works: Entry conditions: 1. Long/short entries when bar closes above/below EMA line 2. Long/short entries when MACD line is above/below signal line (histogram > 0 for long, < 0 for short) 3. Long/short entries when William %R fast MA line is above/below slow MA line
Exit conditions: 1. Exit long when MACD line is below signal line, vise versa for exit short 2. Exit long when William %R fast MA line is below slow MA line, vise versa for exit short 3. Exit long when William %R fast MA line must in below the overbought (-20) limit, exit short when above the oversold (-80) limit.
***Note that parameters are NOT optimized for any particular stocks / instruments.
@ArmanS3, sorry can't~ I suggest you find an expert on that or trying Google or YouTube~ good luck~!
Benson_17
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Very Nice - how do i get the base amount of the orders? I need alerts with the base amount (USDT) without leverage. trade amount seems to be number of contracts?
Trader-Pooh
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Many Thanks !!!!!
Dorario19
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Hi, could you post the alerts version please, I'll try to do it myself but I'm not as good