PtGambler

MACD Willy Strategy

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.

Enjoy~~!!
Release Notes: Added alerts per request ;)

If you make $$$ off it, consider donating some of your juicy gain :)
paypal.me/platsn
ETH - 0x68Aa6cA8d63926195eFaAcDA722168110eEA5862

You can reach me privately at platsn@gmail.com
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

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