Last Updated on July 21, 2021 by Oddmund Groette
Below is a potential short strategy in the S&P 500:
Short= C>Ref(C,-1) AND Ref(C,-1)>Ref(C,-2) AND Ref(C,-2)>Ref(C,-3) AND ADX(5)>35 AND RSI(2)>90
If the close is higher for the third time in a row, 5 day ADX is bigger than 35 and RSI(2) is bigger than 90, then go short on the close.
Exit/cover on tomorrow’s open.
This is the equity chart tested on SPY:
The initial capital is 100 000 and 200 shares of SPY traded throughout the test. No commissions and slippage.
The profit factor is 1.81.
If you would like to have the code for this strategy plus 70+ other free trading strategies published on this website, please click on this link:
For more trading strategies, please click here:
Disclosure: We are not financial advisors. Please do your own due diligence and investment research or consult a financial professional. All articles are our opinions – they are not suggestions to buy or sell any securities.