About this template
**The bot has been updated to use the Watchlist feature, but it does not seem like the default Watchlist is loaded when first cloning. I posted the Sector SPDR’s Watchlist in the comments. Be sure to add it (or whatever Watchlist / Custom Tickers you wish) after cloning or the bot will not have any Tickers to scan**
This is a bot I created a while back and have been running for a few months in test mode to validate and it seems to be performing pretty decent, so I figured I'd share it out.
It simpli scans for EMA crossovers across a collection of tickers for entry. The default is built using 10 of the Market Sector ETF's because I was looking to have the bot take advantage of market rotation. However, it can be modified to run on any selection of tickers you like.
Since it just looks for a crossover entry it will take both bullish and bearish positions, but will stay pretty flat in sideways conditions. Therefore, it could be a good companion to longer DTE IB/IC trading bots to pick up when they slow down or are not working.
All the major components have bot level settings that can be fiddled with as you wish.
Crossover Scanner
The scanner enters shorter early confirmation 30DTE trades on a 10 x 20 EMA crossover and longer confirmation 60DTE trades on 20 x 50 EMA crossovers. The default position sizings are 10% and 20% net liquid respectively.
Upon a valid crossover signal the bot will determine whether to open a credit or debit spread based on the underlying's IV Rank.
Monitor
The monitor has specific profit targets, which it can use to close in conjunction with a check of the 7 day RSI level. If you want to let it continue past the profit target for more upside, there is a "Let It Ride" toggle that will look at the 7 Day RSI level and only close if above or below extreme levels.
There is a reversal check for a shorter duration 5 x 10 EMA crossover in the opposite direction on a position tagged with 10 x 20 or a 10 x 20 EMA crossover in the opposite direction on a position tagged with 20 x 50, as well as a Bollinger Band extreme check. If either is hit it will close the trade down.
Turn ON the hedging toggle if you want losing positions to open a hedge in the opposite direction.
Performance
Below is the performance I've seen since 9/13/2022 with the defaults. However, the Max Drawdown is not accurate because the SPDR ETF's see wild fluctuations after hours that get recorded as performance but do not reflect the true P/L during the open market. The actual performance is much smoother than the chart would have you believe. The biggest loss I've seen is -$880 with a $10K allocation on a XLE whipsaw.
I made a bunch of last minute tweaks to add a PDT Friendly Toggle option, more notifications, and some enhancemets to the monitor logic and bot level inputs before posting this out to the community... hopefully I didn't miss anything or make mistakes that will trigger any run errors. If so, I'll fix via revision(s).
