I was trying to compare the returns of buying the SP500 on Close price and selling it the next day on Open price.
I mean there was already a comparision about that. But I was curious how it'd perform if I only buy it if the close price is above the EMA200.
So I made this notebook for that comparision.
In conclusion it does give slightly more return with a slightly improved win rate. But it kinda falls behind when using it on the data of only last 10 years.
Also, adding EMA doesn't make that much of a big difference on overall returns. But it does help in removing the huge drawdowns on price movements. (For example : 2020 crash)