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Mercury 1hr

The Mercury 1hr strategy is a long-short day trading strategy that trades NQ on 1hour bars.

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Mercury 1hr Strategy Overview

Key Features:

  1. Signal Types:

    • Long

    • Short

    • None

  2. Session Settings:

    • Customizable time zones with default set to "America/New_York".

    • Two trading sessions can be set. By default, Session 1 is from 09:30 to 16:00, and Session 2 is from 09:35 to 15:55.

    • Trading days can be selected for each session. By default, trading is active from Monday to Friday.

  3. Strategy Side Selection:

    • Trading direction can be set for each day (Long, Short, or Both). By default, all days are set to "Both".

  4. Indicators Used:

    • EMA (Exponential Moving Average): Two EMAs are used, with lengths of 430 and 440.

    • RSI (Relative Strength Index): Overbought level is set at 48, and Oversold level is set at 30.

    • VWAP (Volume Weighted Average Price): Customizable timeframe, default set to 45 minutes.

    • MACD (Moving Average Convergence Divergence): Fast length is 20, Slow length is 37, and Signal length is 17.

    • ADX (Average Directional Index): Used to determine the strength of a trend. The trend is considered ready when ADX is above 20.

  5. Entry Conditions:

    • Long Entry: Price is above both the long EMA and VWAP, RSI indicates a buy, MACD is bullish, and ADX indicates a strong trend.

    • Short Entry: Price is below both the short EMA and VWAP, RSI indicates a sell, MACD is bearish, and ADX indicates a strong trend.

  6. Exit Conditions:

    • Long Exit: Price falls below the VWAP, hits the stop loss or take profit levels.

    • Short Exit: Price rises above the VWAP, hits the stop loss or take profit levels.

    • Positions can also be closed at the end of a trading session.

  7. Stop Loss & Take Profit:

    • For long positions, stop loss is set at 0.2% below the entry price, and take profit is set at 0.91% above the entry price.

    • For short positions, stop loss is set at 0.2% above the entry price, and take profit is set at 0.86% below the entry price.

  8. Additional Features:

    • The strategy can be set to exit positions on bar close.

    • Signals can be checked for a lookback period, customizable for both RSI and MACD.

    • All orders and positions can be closed if a session ends.

 

This strategy combines multiple indicators to make trading decisions and allows for a high degree of customization to fit individual trading preferences.

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