The best parameters to use this strategy is on a 5 min time frame and the best time for the strategy is from morning 9:30 am to 2:30 pm.
This strategy can produce false signals in a sideways or choppy market. It works best on liquid stocks and high beta stocks.
Hi. This strategy uses volume as one of its parameters and hence won"t work on indices but you can use it on index futures. Kindly share your feedback.