Daily breakout @Tradingade

27. Sept. 2023

This is a daily breakout strategy that can be used on lower timeframe.

Yellow line is our breakout line, based on yesterday's average candle or yesterday's high/low. I found particularly usefull take data from daily candles and trade on lower timeframe, so that we can enter in position each time a trigger point is met on higher timeframe like Daily, which gives more reliable level for some kind of breakout strategy.


The logic of this code is:

Long Entry:
1 - price crosses above the yesterday's average candle
2 - price crosses above yesterday's high

Stop Loss : Percentage % / Trailing Stop
Take profit : Percentage %
Exit Cond : Today's High crosses above Yersterday's High
Filter: Yesterday low was highest in X days


Short Entry:
1 - price crosses below the yesterday's average candle
2 - price crosses below yesterday's low

Stop Loss : Percentage % / Trailing Stop
Take profit : Percentage %
Exit Cond : Today's low crosses below Yersterday's low
Filter: Yesterday high was lowest in X days



FILTER Notes:
You could switch both timeframe and N. of candles in input section. Even tough generally daily data are more reliable, you could find interesting to change it to 1H tf, so filter would be:
"1H high/low was the lowest/highest in previous X hours"


EXIT Notes:
Please note that "% exits" will always override "Exit Cond".
Set % exits to 0 if you want to exit only by "Exit Cond".

26. Okt. 2023

Versionshinweise

Default Settings Changes