INVITE-ONLY SCRIPT

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"AlgoAura is a technical analysis tool designed to assist traders in identifying potential market trends and managing risk. It combines trend identification, signal generation, and dynamic risk management into a single, customizable indicator.

๐Ÿ”น Key Features:

โ€ข Trend Identification Algorithm: Utilizes a custom 'Algo Sniper' function to filter price data and highlight potential trend direction.
โ€ข Entry Signals: Plots non-repainting buy and sell signals on the chart to indicate potential entry points.
โ€ข Dynamic Stop-Loss & Take-Profit: Automatically calculates and plots stop-loss and take-profit levels for each signal. It supports both manual (ATR-based) and automatic settings.
โ€ข Customizable Info Table: Displays real-time data including current price, entry, stop-loss, take-profit, risk/reward ratio, and trend strength. All colors and parameters in the table are fully adjustable.
โ€ข Full Visual Customization: Users can easily change the colors of signals, lines, and table elements to match their charting preferences.

๐Ÿ”น How it Works:

The indicator calculates a smoothed price range and applies a filter to reduce market noise. When the filtered price direction changes, a signal is generated. Stop-loss levels are calculated based on user-defined risk (ATR) or an automatic pip value. Take-profit levels are also user-defined or can be set to automatic random values.

๐Ÿ”น Disclaimer:

This script is for educational and informational purposes only. It does not constitute investment advice. Past performance is not indicative of future results. I am not responsible for any financial losses incurred while using this script. Please be aware of the risks involved in trading and trade with caution.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.