The biggest problem I've run into with pairs trading models is data. To accuratly test the models, you need more data than most places make available to you. Assuming you have the historical data to test the model, and a good datafeed to run real-time, you should be fine in excel.

I've tried about every trading method I can think of, and the only one that I have continued success with is breakouts. I would love to have a good overbought/oversold strategy in my portfolio, but I am not even sure if one that I trust even exists.

How can I calculate omega for my trading portfolio?