USE ON DAILY TIMEFRAME TO DETECT MOMO STOCKS & ETFs AND TRADE THEM This Strategy goes long when Sharpe Ratio is > 1 and Alpha against the S&P500 is generated. It exits when conditions break away. Strategy can be adapted to run intraday, it however needs different (lower) trigger levels.
examples to try this on: GER30, NAS100, JPN225, AAPL, IBB, TSLA, etc.
You shouldn't need to do much tweaks on standard parameters. In principle it tells you when to stay away from an asset, when its red. Only own assets that generate excess returns compared to the S&P500 (green)
ChartAndBar
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@Niklaus, Hi, this is a great indicator. Would it be possible for you to create this for nifty 500 or nifty50 as wel?