Top 40 High Low Strategy for SPY, 5min

This strategy is developed based on my High Low Index SPY Top 40 indicator
https://www.tradingview.com/script/oJEwDsnN-High-Low-Index-SPY-Top-40/

Notes:
- this strategy is only developed for SPY on the 5 min chart. It seems to work with QQQ as well, but it isn't optimized for it
- P/L shown is based on 10 SPY option contracts, call or put, with strike price closest to the entry SPY price and expiry of 0 to 1 day. This includes commissions (can be changed). This is only an estimate calculated using an arbitrary multiplier factor, this can be changed in the setting
- P/L is based on $5000 initial capital
- Works with both regular / extended trading session turned on/off. However, max drawdown is 1/2 with extended trading session ON
- there is still a bug that doesn't allow alert to be created due to calculation error, will update once fixed

This strategy combines signals from the following indicators to determine entry signals:
- High Low Index SPY Top 40
- MACD
- Linear Regression Slope

Entry signal is triggered when:
- High Low Index line crosses the EMA line
- MACD trending in the same direction
- Linear Regression slope is accelerating above a threshold in the same direction, indicating a strong trend

Profit target(PT) and stop loss(SL) are determined using ATR value, with 2:1 Reward to Risk ratio as default.

Exit signal may be triggered prior to PT or SL trigger when:
- High Low Index SPY Top 40 shows a reversal after overbought or oversold conditions (optional)
- Opposite entry signal is triggered

There are a number of optional settings:
- Turn on/off "option trading", P/L will be calculated using share price only without multiplication factor for trading option contracts
- # of options per trade, default to 10
- Reinvest with profit made
- Trade with trailing SL after PT hit
- Take profit early based on Top 40 overbought/oversold
- Trade 0/1 day expiry. This will signal exit by the end of the day on Mon/Wed/Fri, and only exits 1/2 of positions (if in profit) on Tues/Thurs
- Can reduce the SL level without impacting PT
- No entry between 10:05 - 10:20 (don't ask me why, but statistically it performs better)

Consider donating me some of your profit if you make $$$ hahaha~ ;)

Enjoy~~