This strategy checks levels and measures momentum before entering a trade and parameters can be adjusted in the strategy
It checks for daily resistance/support levels and does not enter a trade when the stock is near those levels
The default take profit is set at 200, which translates to a 2$ moves
Every signal it produces is actionable, go for call/put contracts 2-3 weekly expiry with 1-2% ITM or OTM
For example If SPY is trading at 437 and the algo gives a 'Buy call' signal, you can get a call/put expiring in 2-3 weeks with a strike price of either 435,436 or 438 or 439 with a holding period of 2-3 years ideally
Backtest has produced great results for this strategy
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