Gregoire Channel Strategy
Add the strategy to the chart, and start by selecting one of four systems:
1) Trend Following
2) Trend Following - Long Only
3) Volatility Breakout
4) Volatility Breakout - Long Only
Each system is better suited to a particular type of market. Find out through back-testing which system and timeframe is best for each market.
Trend Following is good for securities that strongly trend up and down. Examples: Bitcoin, "growth" stocks.
Trend Following (Long Only) is great for stock indexes that are on a 100 year uptrend, or US-based crypto exchanges which don't allow margin trading but you want to catch the big trends (BTC, ETH).
Volatility Breakout is a defensive system designed to capture the meat of the move and protect the gains. This system is better for altcoins and mature markets like forex pairs.
Volatility Breakout (Long Only) is for US-based crypto exchanges that don't allow margin trading. Good for altcoins.
DEFAULT SETTINGS:
START DATE: 1/1/2020
FEE: 0.1% (This is the Binance.us fee per trade, tailor it to your exchange)
TAKE PROFIT GCW: 0
STOP LOSS GCW: 0
LENGTH: 20
SOURCE: HL2
The system doesn't need stop losses or take profit levels as they are built into the system, but you can add them if you want. 1 GCW = half the channel, so the distance from the top of the channel to the middle line. 2 GCW = the height of the channel.
MISC
-Make sure you calculate the fees! They make a huge difference in profitability. For example, test how Coinbase.com's fees of 0.5% compared to Binance.us's fees of 0.1%. It's huge!
-Try different sets of lengths and timeframes. For example, I like using the daily timeframe and low length for stocks and intraday timeframe with long lengths for crypto. See what tests best!
Disclaimer: past performance doesn't equal future results, this isn't financial advice, this is for entertainment purposes only, consult a professional financial advisor.
1) Trend Following
2) Trend Following - Long Only
3) Volatility Breakout
4) Volatility Breakout - Long Only
Each system is better suited to a particular type of market. Find out through back-testing which system and timeframe is best for each market.
Trend Following is good for securities that strongly trend up and down. Examples: Bitcoin, "growth" stocks.
Trend Following (Long Only) is great for stock indexes that are on a 100 year uptrend, or US-based crypto exchanges which don't allow margin trading but you want to catch the big trends (BTC, ETH).
Volatility Breakout is a defensive system designed to capture the meat of the move and protect the gains. This system is better for altcoins and mature markets like forex pairs.
Volatility Breakout (Long Only) is for US-based crypto exchanges that don't allow margin trading. Good for altcoins.
DEFAULT SETTINGS:
START DATE: 1/1/2020
FEE: 0.1% (This is the Binance.us fee per trade, tailor it to your exchange)
TAKE PROFIT GCW: 0
STOP LOSS GCW: 0
LENGTH: 20
SOURCE: HL2
The system doesn't need stop losses or take profit levels as they are built into the system, but you can add them if you want. 1 GCW = half the channel, so the distance from the top of the channel to the middle line. 2 GCW = the height of the channel.
MISC
-Make sure you calculate the fees! They make a huge difference in profitability. For example, test how Coinbase.com's fees of 0.5% compared to Binance.us's fees of 0.1%. It's huge!
-Try different sets of lengths and timeframes. For example, I like using the daily timeframe and low length for stocks and intraday timeframe with long lengths for crypto. See what tests best!
Disclaimer: past performance doesn't equal future results, this isn't financial advice, this is for entertainment purposes only, consult a professional financial advisor.
Versionsinformation:
Changed default strategy settings.
Use the link below to get access to this indicator, as well as the Gregoire Channel and Gregoire Channel Width!
Use the link below to get access to this indicator, as well as the Gregoire Channel and Gregoire Channel Width!
Versionsinformation:
Added tooltips, removed unnecessary/confusing customization options.