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The support&resistance strategy in Gunbot is a technical analysis-based trading strategy that uses support and resistance levels to identify potential buying and selling opportunities in the market. The strategy is designed to buy at support levels and sell at resistance levels, with the option to configure a distance from these levels to create a trading range.
The strategy has a single setting called SupRes_SPREAD that represents a percentage of the price above the first support level (when buying) or below the first resistance level (when selling). When the price crosses this threshold, the strategy will place an order. If the balance settings allow for multiple orders, a buy order will be placed every time the buy conditions are met.
The SupRes_SPREAD setting is important because it defines the entry point for the strategy. It is important to set a value that makes sense for the current pair and the price range it is in, as a too-big spread can cause immediate trades. The strategy will sell when the price crosses the SupRes_SPREAD and the GAIN is reached.
Overall, the support&resistance strategy in Gunbot is a simple and straightforward trading strategy that uses support and resistance levels to identify buying and selling opportunities in the market. It is a good choice for traders who want to use this technical analysis tool to trade cryptocurrencies.