PROTECTED SOURCE SCRIPT
Updated AlgoIndex - Levels & Setup Planner
Introducing a manual trading planner designed to streamline your trading strategy. The tool allows you to identify up to 12 key levels - both lines and zones highlight a critical level, and construct a comprehensive trade setup, including entry, stop, target, and risk/reward metrics, tailored to your selected trading session. It also features optional JSON alerts for significant level events and trade setups.
Full Description
The AlgoIndex - Levels and Setup Planner is an innovative manual planning indicator that enables traders to systematically organize their key price levels and formulate a complete trading idea prior to executing trades.
This script is released as a Protected (closed-source) tool: while it is accessible to all users, the underlying source code remains confidential.
Key Features:
1. Levels Mapping (Planner):
- Offers 6 Resistance levels (R1-R6) and 6 Support levels (S1-S6).
- Each level can represent either a specific price point (line) or a broader price zone (high/low).
- Inverted zone inputs are automatically adjusted for consistency.
- Includes an optional Critical level, which can be customized with unique styling and alerts.
2. Trading Setup Builder:
- Establish the trade Direction (Long or Short).
- Define Entry points as either a precise level or an entry zone.
- Specify Stop and Target areas.
- Visualize risk/reward (R:R) metrics using the symbol’s point value.
- The layout features clear entry, stop, and target lines, as well as a designated trade box.
3. Session Planning:
- Select from various trading sessions: New York AM, New York PM, London, Asia, or a Customized time window.
- The trade plan gets visually represented within the designated session window in Eastern Time.
4. Alerts (Optional):
- Informational Alerts: These triggers notify users of level touch or break events for support/resistance and critical levels; they do not execute trades.
- Trade-Entry Alerts (Webhook-Ready JSON): Leveraging built-in entry logic, these alerts function in two distinct modes:
- INSTANT Mode (No Confirmation): This mode activates at the close of a bar that breaches the entry level (indicating a breakout) or surpasses the zone boundary (signaling a zone exit) in the intended trade direction.
- CONFIRMATION Mode: In this scenario, the script will await the completion of predetermined confirmation logic before sending the entry alert.
- Breakout Strategy: This involves a breakout past the entry level, followed by a retest and stabilization in the trade's favor.
- Zone Strategy: This focuses on a rejection at the entry zone, followed by a continuation in the desired trade direction.
To utilize webhooks, set a TradingView alert on this script with the condition “Any alert() function call” and input your designated webhook URL.
Important Notes:
This tool serves as a comprehensive planning and alerting device, yet it does not ensure trading success. Traders are advised to validate levels, manage their risk effectively, and test alerts on their preferred timeframes before relying exclusively on automated systems.
Full Description
The AlgoIndex - Levels and Setup Planner is an innovative manual planning indicator that enables traders to systematically organize their key price levels and formulate a complete trading idea prior to executing trades.
This script is released as a Protected (closed-source) tool: while it is accessible to all users, the underlying source code remains confidential.
Key Features:
1. Levels Mapping (Planner):
- Offers 6 Resistance levels (R1-R6) and 6 Support levels (S1-S6).
- Each level can represent either a specific price point (line) or a broader price zone (high/low).
- Inverted zone inputs are automatically adjusted for consistency.
- Includes an optional Critical level, which can be customized with unique styling and alerts.
2. Trading Setup Builder:
- Establish the trade Direction (Long or Short).
- Define Entry points as either a precise level or an entry zone.
- Specify Stop and Target areas.
- Visualize risk/reward (R:R) metrics using the symbol’s point value.
- The layout features clear entry, stop, and target lines, as well as a designated trade box.
3. Session Planning:
- Select from various trading sessions: New York AM, New York PM, London, Asia, or a Customized time window.
- The trade plan gets visually represented within the designated session window in Eastern Time.
4. Alerts (Optional):
- Informational Alerts: These triggers notify users of level touch or break events for support/resistance and critical levels; they do not execute trades.
- Trade-Entry Alerts (Webhook-Ready JSON): Leveraging built-in entry logic, these alerts function in two distinct modes:
- INSTANT Mode (No Confirmation): This mode activates at the close of a bar that breaches the entry level (indicating a breakout) or surpasses the zone boundary (signaling a zone exit) in the intended trade direction.
- CONFIRMATION Mode: In this scenario, the script will await the completion of predetermined confirmation logic before sending the entry alert.
- Breakout Strategy: This involves a breakout past the entry level, followed by a retest and stabilization in the trade's favor.
- Zone Strategy: This focuses on a rejection at the entry zone, followed by a continuation in the desired trade direction.
To utilize webhooks, set a TradingView alert on this script with the condition “Any alert() function call” and input your designated webhook URL.
Important Notes:
This tool serves as a comprehensive planning and alerting device, yet it does not ensure trading success. Traders are advised to validate levels, manage their risk effectively, and test alerts on their preferred timeframes before relying exclusively on automated systems.
Release Notes
Update: Fixed status display so "FILLED" only shows when trade actually triggers on live bars, not from historical replay.Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
If you want to contact me Email: info@algoindex.com or algoindex.com
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.
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
If you want to contact me Email: info@algoindex.com or algoindex.com
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.