The channels are calculated using previous highs and lows. We could think a good signal would be to sell/buy when the price bounces a band, but in fact the most interesting signals are breakouts. Price breaking through a band is a strong indicator of a new trend.
This indicator can used anywhere thanks to its input parameters. Adjust the indicator to the market's volatility using the Channel Length parameter and reduce noise if needed with the Channel Smoothing.
Increase profitability and reduce risk.
The Stop Loss system is integrated to the script, meaning you do not have to set it on your exchange.
When price breaks through the Stop Loss line, an Exit Alert is triggered.
Use the input parameters to configure your Stop Loss, either for long trades and/or short trades. Change the Trailing Speed if needed: it is the speed at which the stop loss line will follow price action.
The Take Profit system is integrated to the script, meaning you do not have to set it on your exchange. When price breaks through the Take Profit line, an Exit Alert is triggered.
Use the input parameters to configure your Take Profit, either for long trades and/or short trades. You can make the Take Profit trail by using the Trailing Deviation parameter: if price keeps climbing, the take profit alert will trigger only after it stops climbing.
This features, when enabled, filters out trades which aren't in the current trend. You can choose between several trend indicators: EMA, Tilson T3, or SuperTrend.
Use the input parameters to configure your Trend Detector. The Trend Detector Lookback corresponds to the length of the indicator.
The Backtest version uses TradingView's Strategy Tester to show results based on past trades. Use this version to find a configuration that suits your expectations! Create high risk - high reward strategies with huge net profit or low risk - low reward strategies with high profitability!
This indicator comes with 2 versions. [BACKTEST] and [ALERTSETUP]. We will see how to use the Alert Setup below. Both have the same parameters, but one is used to backtest the strategy, while the other is used to create automated alerts.
Simply by looking at the chart, trade using the Donchian Channels trading rules. When a triangle appear, it is a breakout. If the channel is blue, it means we are in a bullish trend, otherwise, bearish trend.
If you are like me, you may not want to have to look at the chart all day long. That's where the Alert Setup version comes handy! Here is how to use it: Configure the indicator, then create the alerts. Up to 8 alerts available, and you need a minimum of 2 alerts for a buy-and-sell strategy.
Private Discord Server: https://discord.gg/AwZVFDh
1. Purchase the indicators or 7-Day Trial
2. Create your account here and I will grant your account access within 24 hours!
Once I grant you access, you will receive a notification.
Then, to access the Cyatophilum indicators, simply click on 'Indicators' at the top of a live chart,
Finally, click on “Invite-Only Scripts”. There you will see the Cyatophilum indicators.
Click on an indicator to activate it. Start trading!
When I create an alert, how do I choose between "Once per bar" and "Once per bar close" ?
A "Once per bar" alert will trigger on the first tick of the bar which alert condition is true. A "Once ber bar close" alert will only trigger at bar close if the alert condition is still true at bar close.
Use "Once per bar" for manual trading. The alert will trigger sooner but is not as strong as if we waited bar close. Profits and risks are increased.
Use "Once per bar close" for automated trading. Unlike "Once per bar", a "Once per bar close" alert of the same type (buy or sell) cannot trigger more than once in a row. Thus it is suited for a trading bot which send buy and sell orders to a broker. Also those alerts correspond to the backtest results given buy the backtest version given with each indicator.
Should I expect repainting issues with any of the Cyatophilum Indicators ?
I code my indicators in such a way that each candle is calculated from previous candles data only. I do not use the security function which I know is currently bugged and causes repainting issues. Alerts are hosted on TradingView servers.
Can I use the Cyatophilum Indicators on other markets than cryptocurrency ?
Yes, all of my indicators work on most of TradingView's markets. You can trade Forex, Indexes, stocks, futures and CFD. Do not hesitate to join me on my Discord Server and I will help you configure the indicators for your favorite asset.
If you are not satisfied the Cyatophilum Indicators , email me at firstname.lastname@example.org within 14-days and you will be fully refunded.
Email me at email@example.com any time to cancel your subscription.
All investing involves risk, do not invest more than you are willing to lose. Past results may not be indicative of future results. By purchasing this indicator, you are not garanteed to make profit.