LINK Breakout Entries with Trend and Momentum Filters

Summary

This long-only Chainlink strategy turns a technical view around $12.20 resistance into explicit entry rules. It requires a close above the configured breakout level, price above the 200-period simple moving average, RSI between 50 and 70, and MACD line and histogram above their signal thresholds. If breakout confirmation is disabled, the alternate trigger is a close above $12.00.

The script sets a percentage stop and target from the entry price, defaulting to 1.5% risk and a 3% profit target, and sizes entries at 10% of equity. It plots moving averages, support and resistance references, labels entries and exits, and provides alerts for selected levels. The source cites several price levels from a separate analysis but supplies no backtest results or evidence that the setup is profitable. Indicator periods are configurable defaults because the cited analysis did not specify them; the historical price levels and fixed percentage exits may not remain relevant across market conditions.

Key ideas

• A long entry requires a confirmed breakout, price above the 200-period SMA, and bullish RSI and MACD readings.
• The default breakout trigger is a close above $12.20, with $12.00 as the alternate level when confirmation is disabled.
• The default exit plan places a stop 1.5% below entry and a target 3% above entry.
• The script displays reference support and resistance levels and includes alerts for selected price events.
• The document provides rules and chart levels but no strategy performance results.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.