This is a conceptual strategy intended for E-mini S&P 500 futures with hourly bars.
It uses three signals, going long or short when two or more change in the same direction.
First is MACD. A positive oscillator is considered a bullish signal and a falling oscillator is interpreted bearishly.
Next, stochastics are used as an overbought/oversold indicator. Overbought conditions are considered bearish and oversold readings are viewed as bullish.
Third is a custom indicator based on our Moving Average Speed script. It takes the rate of change of the 50-hour simple moving average (SMA), and then smooths it using a 10-period average. This provides a directional signal.
Traders may want to experiment with different settings for moving average speed.
Note: This is intended for use with stock index futures, which have round-the clock price data to populate the data in the indicators. It may not yield good results with stocks or ETFs.
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