I recently read about a simple trading method for the S&P 500. Buy signals are generated when the 1 min, 2 min, and 10 min stochastics point up.
Exit and sell signals are generated when the 1 min, 2 min, and 10 min stochastics turn down. Due to the simplicity of this method I am interesting in testing this out.
Both
entries and exits are not based on price but on indicator signals.
Has anyone heard of this trading tactic? How reliable would you think this is?