Early Bird V2.1

Early Bird V2.1

The Early Bird is designed for short-term traders looking to enter long positions early and near major or minor support levels. It helps traders trade short term reversals and continuation patterns, making it useful in trending and ranging markets. The indicator also provides take profit signals, assisting traders in managing positions effectively.

Using the Indicator - along with an easily improvable Strategy


Enter position at confirmation of green BUY signal at candle close. Set stop loss at lowest price point of the price swing, usually within 4 candles before entry point, or at -0,5% if the low is too far down.
Take profit at confirmation of TP signal at close of candle, one third of position size per TP signal. After first TP move stop loss to breakeven.
In upward trending markets, add to position at next BUY signal.

The RSI filter helps to avoid weak buy signals by ensuring price momentum is in favor of a long entry. During strong downtrends it less effective.

The indicator allows users to manually set support and resistance levels, and when enabled, prints an affirming signal to any BUY signal that is printed within a set range from the support. Similarly resistance can be set to strengthen TP signals in accordance with the trader's planned exit and can be used to set take-profit areas to avoid overstaying in a trade.
This feature is particularly useful in ranging markets, where price moves between clear levels.

Timeframe Recommendations

Works best on the 15-minute timeframe for intraday trading.
Does not perform well below the 5-minute timeframe due to increased noise.
Becomes less effective beyond the 1-hour timeframe, as signals become less reactive and managing risk becomes difficult, especially for higher leveraged trades.


Setting Alerts

To set alerts for the indicator’s signals in TradingView:

Right-click on the chart where the indicator is active.

Select "Add Alert" and choose Early Bird V2.1 as the condition.

Choose the type of signal you want to be alerted for:

"Buy Alert" → Notifies when a green buy signal appears.

"Take Profit Alert" → Notifies when an orange take profit signal appears.

"Buy in Support Alert" → Notifies when a buy signal prints near a manual support level.

"Take Profit in Resistance Alert" → Notifies when price reaches a resistance zone.

Adjust alert settings and choose whether you want a sound, popup, or push notification.

Click "Create" to activate the alert.

By using alerts, traders can stay informed without constantly watching the chart, improving efficiency and decision-making.

One useful way of setting alerts is to set two Buy Alerts, one that sets of upon candle close, and another that sets off once per minute. The entries often require immediate action, so having an alert that warns of an incoming BUY signal can be the difference between making or missing the entry.