Aieden Technologies recently released the Aieden Trendline Breakout and the Aieden Pivot Trendline Breakout Strategies, for the cTrader platform made available for download on their partner store ClickAlgo.
These use differing means for evaluating higher and lower trendlines, overlaid on the asset price-action to initiate BUY and SELL signals upon breakout conditions from the trendlines on the close price.
Trading breakouts are a common way of catching high momentum events where price trades within a channel or by testing an upper or lower trendline prior to breaking out. These breakouts when configured appropriately often result in a new trend in the direction of the breakout prior to a renewed reversal.
These strategies use two different mechanisms for trading these breakouts to catch this new trend direction creation in either a long or short direction.
The Aieden Trendline Breakout Strategy uses an ATR-based technique to determine the angle for upper and lower trendlines superimposed on the price action. The ATR parameters for these trendlines can be determined through optimization for the particular asset across different asset timeframe parameters.
The Aieden Pivot Trendline Breakout Strategy uses an approach to determine pivot points (by looking at price data highs and lows to the left and right of each historical price candle) and then connecting the latest two pivot points to form a trendline.
This strategy can be combined with a MACD confirmation indicator to trade breakouts with sufficient momentum. Both strategies can be combined with take profit and stop-losses levels (static or ATR dynamic based).
The Aieden Pivot Trendline Breakout Strategy also has the advantage of having the pivot trendline timeframe and MACD timeframe configurable separately from the asset candle price timeframe.
With all these configuration options, these two strategies can create flexible multi-asset strategy combinations for trading breakouts successfully.
Both strategies come with options to buy with source code included to allow trading system developers to build on top of a flexible framework of a multi-timeframe strategy with stop-loss and take-profit configurations.
You can download these strategies from ClickAlgo on the Aieden Technologies page of ClickAlgo.
“These two trading strategies come as part of our commitment to release a dozen strategies in the first three months of the year on ClickAlgo,” said Yiannis Pavlou, founder and managing director of Aieden.
“We are continuing with our roadmap to release a dozen of our core strategy components, while we work towards a set of 100 trading strategies across asset categories for our Robots-as-a-Service offering for brokers. This will bring us to the end of the year where we aim to have a highly sophisticated multi-asset, multi-strategy offering on cTrader Copy that benefits from sector rotation,” he continued.
“We are working hard to support the community with these new breakout strategies on ClickAlgo,” said Panagiotis Charalampous, founder and chief technologist and developer of the Aieden technology.
“Often these packaged strategies are the base components that traders use and come to us for combination and modification, through our custom development services. We have a very ambitious plan taking us to the end of the year 2023,” he concluded.