This uses 3 Exponential moving Averages. You should try changing the values for different stocks and commodities depending upon the volume and volatility. The below example works well with TATASTEEL, TATAMOTORS and ONGC 1 minute and 3 minute timeframe candles. My thumb rule that I use is that 1 minute timeframe during high volatility time like first 1 hour and last 1 hour of the trading session and 3 minutes between those times. Even when you are watching 1 minute timeframe, keep an eye on 3 minutes as you may get a good trend early on in first one hour itself.
This strategy can also be used for positional trading using 1 hour and daily chart.
Use Heiken Ashi candles to support you. Also, you should learn to filter false signals by looking at the direction of the highest period moving average. egs. Even if you get buy signal, but the highest period ema (13 in the example below) is showing a steep downward trend don’t jump into the trade.
The below is an EA for Zerodha pi in tradescript.
EMA(ClOSE, 5) > EMA(CLOSE,8
EMA(ClOSE, 5) < EMA(CLOSE,8)