Support / Resistance

Buy at support, sell at resistance. That's all this strategy does. You can configure a distance from support and resistance, to configure a range where it will trade.

How to work with this strategy

There is just a single setting that defines the entry point for this strategy: SupRes_SPREAD

This setting represents a percentage (of price) above the first support level (when buying), or below the first resistance level (when selling). As soon as price crosses this threshold, it will place an order. If the balance settings allow for multiple orders, a buy order gets placed every time the buy conditions are met.

In the example below, SupRes_SPREAD is set to 0.1, the "buy at" line visualizes the target. The sell target would be 0.1 % below the first resistance level.

Keep in mind that support and resistance are not static targets. This makes the SupRes_SPREAD setting more or less a trailing range. It's very important to set a value that makes sense for the current pair and the price range it is in: too big of a spread can cause immediate trades.

The strategy sells when price crosses SupRes_SPREAD and GAIN is reached.

This strategy can buy multiple times, it can be capped with SupRes_MAX.

Formula

Gunbot uses the following formula to calculate support and resistance levels. The number of candles uses as input is user configurable with the SMAPERIODsetting.

P = (H + L + C) / 3 
R1 = (P  2) - L 
R2 = P + (H - L) 
S1 = (P  2) - H 
S2 = P - (H - L)

Less options than usual

This strategy is a bit different from other strategies, it has much less configurable options. Confirming indicators or additional trailing are disabled.

Strategy parameters

Following settings options are available for SupportResistance and can be set in the strategy configurator of the GUI or the strategies section of the config.js file.

These settings are global and apply to all pairs running this strategy. When you want a specific parameter to be different for one or more pairs, use an override at the pair level.

Using the BUY_METHOD and SELL_METHOD parameters you can combine different methods for buying and selling. This strategy page assumes both BUY_METHOD and SELL_METHOD are set to SupportResistance. Accepted values are all strategy names as listed here.

Buy & sell settings

Buy settings are the primary trigger for buy orders. Sell settings control how sell orders are placed. These parameters control the execution of buy orders when using SupportResistance as buy & sell method.

Buy enabled

Description

Set this to false to prevent Gunbot from placing buy orders.

Values

Values: true or false

Default value: true

Order types

Affects	Does not affect
Strategy buy	Strategy sell
DCA buy	Stop limit
RT buy	Close
RT buyback	RT sell

Name

Parameter name in config.js: BUY_ENABLED

Sell enabled

Description

Set this to false to prevent Gunbot from placing sell orders.

Values

Values: true or false

Default value: true

Order types

Affects	Does not affect
Strategy sell	Strategy buy
Stop limit	RT buy
RT sell	RT buyback
	Close
	DCA buy

Name

Parameter name in config.js: SELL_ENABLED

Gain

Description

This sets the minimum target for selling. Gunbot will sell once price reaches the set percentage above the break-even point. and SupRes_SPREAD is reached.

If you want to have at least 2% profit per trade, set this to 2.

Values

Values: numerical – represents a percentage.

Default value: 0.5

Order types

Affects	Does not affect
Strategy sell	Strategy buy
	RT buy
	RT buyback
	RT sell
	Close
	DCA buy
	Stop limit

Name

Parameter name in config.js: GAIN

Sup / Res spread

Description

Sets the distance from support/resistance levels, in which orders may be placed.

For buying: this value is a percentage above the first support level.

For selling: this value is a percentage below the first resistance level.

Values

Values: numerical, represents a percentage (of price)

Default value: 0.1

Order types

Affects	Does not affect
Strategy sell	Stop limit
Strategy buy	RT sell
	RT buy
	RT buyback
	Close
	DCA buy

Name

Parameter name in config.js: SupRes_SPREAD

Sup / Res max

Description

Use this setting to limit how many times the strategy is allowed to buy, by setting a maximum allowed position size in base currency.

If the combined value of quote balance, open orders and the next order to place are higher than SupRes_MAX, then no further buy orders will be placed.

Values

Values: numerical, represents a value in base currency

Default value: 0

Order types

Affects	Does not affect
Strategy sell	Stop limit
Strategy buy	RT sell
	RT buy
	RT buyback
	Close
	DCA buy

Name

Parameter name in config.js: SupRes_MAX

Indicator settings

These indicator settings have a direct effect on trading with SupportResistance.

Period

Description

This sets the candlestick period used for trading, this affects all indicators within the strategy.

Only use supported values.

Setting a short period allows you to trade on shorter trends, but be aware that these will be noisier than longer periods.

Values

Values: numerical– represents candlestick size in minutes.

Default value: 15

Order types

Affects	Does not affect
Strategy sell	RT buy
Strategy buy	RT buyback
DCA buy (when using an indicator to trigger)	RT sell
	Close
	Stop limit

Name

Parameter name in config.js: PERIOD

SMA Period

Description

This defines the number of candles used for calculating support and resistance level.

Values

Values: numerical – represents a number of candlesticks.

Default value: 50

Order types

Affects	Does not affect
Strategy sell	RT buy
Strategy buy	RT buyback
	RT sell
	Close
	Stop limit
	DCA buy order

Name

Parameter name in config.js: SMAPERIOD

Balance settings

pageBalance settings

Misc settings

pageMisc settings

DCA settings

This strategy cannot use DCA. Averaging down is natively implemented by allowing multiple buy orders.

Reversal trading

This strategy cannot use reversal trading.

TrailMe settings

This strategy cannot use TrailMe.

Confirming indicators

This strategy cannot use confirming indicators.