SPY and QQQ Options Scalp Signals Using EMA Crosses and Confluence

Summary

This script is designed to generate short-term call and put signals for SPY and QQQ using a weighted set of technical conditions. It includes fast and slow EMA crossovers, a longer-term EMA trend filter, RSI, VWAP, volume spikes, MACD, stochastic readings, candle-body strength, and recent highs or lows. A crossover remains eligible for a limited number of bars, while the minimum signal-strength setting is intended to require agreement among multiple inputs. The shown excerpt establishes the indicators and begins the scoring logic, but does not include the complete score calculation or order rules.

Risk and timing settings include ATR-based stop and target multipliers and separate morning and afternoon market sessions. The script is described as an options scalper, but the visible code is a chart strategy based on the underlying price and does not show option-contract selection or execution. The excerpt provides no backtest results, and its partial source prevents confirming how scores, entries, exits, and risk controls are ultimately applied.

Key ideas

• The visible signal design combines EMA crossover timing with trend, momentum, volume, VWAP, and candle filters.
• Recent crossovers remain eligible for a configurable number of bars.
• The script defines session windows and ATR-based stop and target settings.
• The excerpt ends before the scoring system and order logic are complete.
• The visible source does not show options-contract selection or report performance results.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.