Robrecht99

DC Breakout Strategy | This is simplicity at its finest.

As the title already describes: this is a Donchian breakout strategy. This strategy, as of now, only goes long. It goes long when the price close makes a new high and the 8 day moving average is above the 32 day moving average. The strategy exits the trade if the price breaks the atr trailing stop of * 3 or the 8 day moving average crosses below the 32 day moving average.

This is simplicity at its finest.
Release Notes: -
Release Notes: I added short signals to the strategy. And I changed the stop and trailing stop on the long side to 4 ATRs from 3. I kept the 3 ATRs as an SL and TSL on the short signals though.
Release Notes: Added ATR based position size.
Removed the stoploss, so you will stay in your trades as long as possible. This also means that you'd close a long position and then almost right away open a short as the trend could reverse.
Release Notes: Added customization for the moving averages, the Donchian Channels and your own risk tolerance when it comes to the position sizing. Those include the percentage, shown as 0.01 for example, you're willing to risk per trade and the length of the ATR.
Added a custom back test window.
Release Notes: Added pyramiding feature. It takes in account the position sizing formula in the code. I've noticed that the overall performance is greatly improved when applying this pyramiding feature. And combine pyramiding into profitable trades and cut your losses short, and you will earn a lot of money.
Release Notes: The multiplier that's needed to calculate the position size has been changed to syminfo.pointvalue. This means that the formula now takes into account the point value of the crypto perpetual contracts.
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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