Support and Resistance Levels with Breaks Strategy AZT
Strategy Premise
It provides basic Pivot Support and Resistance levels, along with any bull or bear wick. The strategy takes a left/right bar input which is used to calculate a pivot high and low point (if any). Any breakout of a support or resistance level with volume generates a trade signal.
Strategy Logic
Long Entry: When ‘Green B’ signal is generated on chart, send LE
Long Exit: Either when SL or Target is hit. If SL/TGT is not hit and ‘Red B’ signal is generated, send LX and SE
Short Entry: When ‘Red B’ signal is generated on chart, send SE
Short Exit: Either when SL or Target is hit. If SL/TGT is not hit and ‘Green B’ is generated, send SX and LE
Support and Resistance Levels with Breaks Parameters for TradingView Charts
Left bars: Number of bars to the left hand side of the pivot
Right Bars: Number of bars to the right hand side of the pivot
Volume Threshold: Threshold value (%) for the Volume Oscillator
Quantity: This is used to specify the trade quantity
Custom Stop Loss in Points: Movement in chart price against the momentum which will trigger exit
Custom Target in Points: Movement in chart price against the momentum which will trigger exit
Setting Up Alert
Before setting up an alert make sure that You have selected the desired script, timeframe, strategy settings, API bridge is configured and running. Click in settings add alert and paste {{strategy.order.comment}} in the message box.
Important: do not change any settings during live trading.
It provides basic Pivot Support and Resistance levels, along with any bull or bear wick. The strategy takes a left/right bar input which is used to calculate a pivot high and low point (if any). Any breakout of a support or resistance level with volume generates a trade signal.
Strategy Logic
Long Entry: When ‘Green B’ signal is generated on chart, send LE
Long Exit: Either when SL or Target is hit. If SL/TGT is not hit and ‘Red B’ signal is generated, send LX and SE
Short Entry: When ‘Red B’ signal is generated on chart, send SE
Short Exit: Either when SL or Target is hit. If SL/TGT is not hit and ‘Green B’ is generated, send SX and LE
Support and Resistance Levels with Breaks Parameters for TradingView Charts
Left bars: Number of bars to the left hand side of the pivot
Right Bars: Number of bars to the right hand side of the pivot
Volume Threshold: Threshold value (%) for the Volume Oscillator
Quantity: This is used to specify the trade quantity
Custom Stop Loss in Points: Movement in chart price against the momentum which will trigger exit
Custom Target in Points: Movement in chart price against the momentum which will trigger exit
Setting Up Alert
Before setting up an alert make sure that You have selected the desired script, timeframe, strategy settings, API bridge is configured and running. Click in settings add alert and paste {{strategy.order.comment}} in the message box.
Important: do not change any settings during live trading.