algozinitech

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.


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