SPXTrader HOURLY CLOSE STRATEGY
INTRODUCTION
SPXTrader Hourly Close Strategy (HCS) for TradingView is a strategy that only initiates trades near the hourly bar close.
Here's Hourly Close Strategy (HCS) performance on /ES TradingView (May 1 - Jun 20)
The performance number above do not include a fixed profit target. When configured with a 5 point profit target on /ES, the Winning Trade Percentage jumps to 61%
The signals generated by the strategy are marked in the chart as below
PLATFORM
Hourly Close Strategy is only available for TradingView platform. Other Trading platforms aren't supported yet.
HCS requires access to live data feed for /ES. This access is sometimes available through Brokers (like AMP Futures). If your broker does not provide data feed to TradingView, a CME Globex data subscription is required for Cedar ($2/month) as shown below
In some cases, the $2/month data cannot be added to Basic (Free) TradingView accounts. Please check with TradingView support for the matter.
Not a TradingView member? Sign up here and get $30 credit
HCS BANDS
HCS Bands denote the range bounds for the intraday market. A range bound market will typically oscillate between the HCS Bands. Breakouts will typically see price extension at least until the bands catch up with the price.
HCS Bands are generic and can be used on multiple assets but recommended only for /ES (and /MES) and /NQ (and /MNQ).
Sample /ES chart
To subscribe to HCS Bands study alone, please sign up here
TIMEFRAME
The Hourly Close Strategy should be applied on a 5m chart of Emini S&P Futures (/ES and/MES). The strategy internally calculates hourly closes and fires signals when possible.
ASSETS
The Hourly Close Strategy has been developed and backtested for Emini S&P Futures (/ES and /MES). It contains various trade models and optimizations that are specific to /ES (and /MES). While HCS Bands may be used with other assets, they are not used in trade signals generated by HCS.
ALERTS
Hourly Close Strategy alerts can be set up using TradingView. Please use the following text in the Message field to receive order price in the alerts
PRICING
Sign up for HCS at $125/month
Reach out to https://twitter.com/SPXTrades via a DM with your TradingView account username to get access to the strategy after you sign up
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