Elliott Wave Oscillator + PSAR + Volume

Strategy Logic
1. Indicators
Elliott Wave Oscillator (EWO): This oscillator measures the difference between a 5-period and a 35-period exponential moving average (EMA). It's used to identify momentum shifts and potential wave structures. A buy signal is triggered when the EWO crosses above its signal line (a 5-period simple moving average). A sell signal is triggered when it crosses below.

Parabolic SAR (PSAR): This indicator shows potential reversals in price direction. A buy signal requires the PSAR to be below the current price, indicating an uptrend. A sell signal requires the PSAR to be above the current price, indicating a downtrend.

Volume: The strategy checks for significant changes in volume compared to its 20-period simple moving average (SMA). A buy signal requires a volume increase of at least 20% above the SMA. A sell signal requires a volume decrease of at least 20% below the SMA.

EMA 200: This long-term moving average is used to determine the overall market trend. A buy signal is only considered when the EMA 200 is rising (uptrend). A sell signal is only considered when the EMA 200 is falling (downtrend).

2. Entry and Exit Conditions
Long (Buy) Entry: A long position is entered if all of the following conditions are met:

EWO crosses its signal line upwards.

PSAR is below the price.

Volume has increased significantly.

The EMA 200 is rising.

The current candle is a bullish candle (close > open).

Short (Sell) Entry: A short position is entered if all of the following conditions are met:

EWO crosses its signal line downwards.

PSAR is above the price.

Volume has decreased significantly.

The EMA 200 is falling.

The current candle is a bearish candle (close < open).

Exit Conditions: Both long and short positions have a fixed 1% take profit and a 1% stop loss to manage risk.

In summary, the strategy only enters trades when a combination of momentum (EWO), trend (PSAR, EMA 200), and volume indicators align in the same direction, with strict risk management in place.