This technical analysis will utilise support/resistance line to place BUY/SELL. The logic works as follows:
- Once support/resistance line is determined, bot will then determine where the current price is in relation to the support/resistance line. It can be inside the SR line, above or under.
- If price is within SR line and it gets close to support/resistance line (within SRTAMinimumRatio value – in percentage), then BUY/SELL signal will be produced. When price gets closer to support, bot will place BUY. When price gets closer to resistance, bot will place SELL.
- If price is above the Resistance line, when price breaches down the Resistance line then bot will place SELL.
- If price is below the Support line, when price breaches up the Support line, then bot will place BUY.
SRTARatio is not used at the moment.
SRTASkipCandles is the number of past candles used to determine support/resistance line.
SRTATimeoutCandleCount is the timeout (in minutes) before bot determines to determine a new support/resistance line. This is needed because otherwise, bot will keep using an old support/resistant values.
SRTACandleHistoryCount is used to tell bot how long (in minutes) bot should store the BUY/SELL signal. This is useful when combining multiple TAs.