I have created an algo which simply follows the market. Reverse or Directional. For example, you simply chose an equity and algo will trade it. The returns chart will be similar to the price chart of the equity and highly correlated. It's like SPY vs SPX correlation. It works like ETF.
In the other hand, if equity lose during this time, algo will lose too. This is a buy only algo and works with stocks, futures, forex and every other tradable assets. If you like to go reverse of the chart, algo will short instead of long.
Ok here's the point of this post. Are such algos common or unusual? And useful?
Here are some screenshots