Noro's RiskChannel Strategy

Indicator

The Donchian price channel is used. There are 2 methods available to close the position. The user can choose a method.

Wikipedia: en.wikipedia.org/wiki/Donchian_channel

Strategy #1 (stop-loss type = channel)

Old classic trading strategy, using breakouts of the Donchan price channel.

If the price is above the price channel top line, open the long position (and close the short position)
If the price is below the lower line of the price channel, open the short position (and close the long position)

It is recommended that you all use market stop orders.

Strategy #2 (stop-loss type = center)

This metod is better. This method is recommended.

The central line (red) is the middle of the Donchian price channel. Used to close any positions.

If the price is higher than the price channel top line, open the long position.
If the price is lower than the lower line of the price channel, open the short position.
If the price has crossed the central line of the channel, close any position.

It is recommended that you all use market stop orders.

Risk

There are 2 options. Risk for long positions and risk for short positions. This is the size of the possible loss. Order size depends on the possible loss and is calculated for each position.

For

BTC/USD, BTC/USDT, XBT/USD, ETH/USD, ETH/USD (need USD!)
Timeframes: 1h and length of price channel = 50 bars or 4h and length of price channel = 12