Today I bring you a stock market strategy, specialized in NASDAQ stocks.
Its a daytrading strategy, that can only do a max of 1 trade per day. In this case it only trades the first 2 opening hours of the market.
The rules are simple :
We follow the trend based on a big , in this case 200, after that, we check for direction , then, we check histogram from . This is the simple logic of the strategy.
Inside there is another strategy, that not just do the above, but also uses , and checks for breakout of bottom or top line. Also it uses , for even a bigger criteria .
So for example a long condition it would be : candle is above the , and candle is above , and histogram is positive, and candle break the top bb level and ADI < 40 -> long signal . The opposite works for short( ADI > 20).
In this case all this criterias are between the first 2 hours of market. So we enter between the first hour, and exit in the next hour. For this we need to use very short time frames.
Hope you enjoy it.
Let me know if you have any questions
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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.