AlgoChadLin's BITCOIN H1 Breakout Strategy No.545

Strategy Overview

AlgoChadLin's BITCOIN H1 Breakout Strategy No.545 is a sophisticated breakout trading system designed for Bitcoin on the H1 timeframe. It integrates multiple volatility and price action indicators to identify high-probability breakout opportunities, aiming to capitalize on significant market movements.

Auther: algochadlin

Strategy Logic

Breakout Confirmation: Utilizes a combination of Average True Range (ATR) and Bollinger Bands to identify periods of low volatility followed by sharp price movements.

Long: Initiated when the price breaks above the previous hour's upper Bollinger Band, with ATR confirming increased volatility.

Short: Triggered when the price breaks below the previous hour's lower Bollinger Band, with ATR indicating heightened volatility.

Parameters


• Price Entry Multiplier: Adjusts the entry price relative to the breakout level.
  
• Exit After Bars: Specifies the number of bars to hold the position before exiting.
  
• Profit Target (%): Defines the percentage gain at which to take profit.
  
• Stop Loss Coefficient: Multiplier for ATR to calculate stop-loss distance.
  
• Trailing Stop Coefficients: Defines the trailing stop parameters.
  
• Biggest Range Period: Determines the lookback period for identifying the largest price range.
  


Setup


• Timeframe: 1-Hour (H1)
  
• Asset: Bitcoin, also suitable for ETH