This tool is designed as a companion to an automated strategy running on Alertatron. Sometimes when a strategy opens a trade, you decide that based on TA you would like to close all or or a portion of your trade at a support or resistance level. The strategy may already be programmed to take profit but this tool allows you to add additional take profit criteria that can trigger an alert to Alertatron if it happens before the strategy closes.
How to use it
When you add the indicator to your chart, it will ask you to select two points on the chart. These two points will be connected by a line and create the parallel channel that will be used for triggering a take profit alert. The offset is how wide you want the channel to be. When the high or low of a candle enters the channel from either direction, the alert will be fired. AFTER you add the indicator to the chart and configure ALL of the settings, you need to create an alert on the indicator for "All Alert Functions" and paste your incoming alert webhook from Alertatron into the webhook input.
You will need to provide the API name that you have configured in Alertatron that matches the account the trade is open in. This tool supports ByBit and FTX.us by may work with other exchanges too (this option just chooses which currency/pair divider is used in the alert message).
- amountToClose was being ignored. This is now fixed.
- the side was hard coded to "sell" meaning you could only close longs. This is now dynamic based on which side the channel is entered from.
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.