alGROWithm Premium
Introducing the alGROWithm indicator!
Years of trading experience and endless hours of screen time has undeniably proven to me that the most fundamental rule of any market is: price moves from supply to supply and demand to demand. Specifically, this means that a breakout of a supply zone , the probability of it reaching the next supply zone before starting consolidate is very high. Similarly, a breakdown from previous demand zone will likely continue to the next demand zone . The identification method of these supply and demand channels is one of the features that sets this indicator apart from other available tools.
What separates alGROWithm from other available tools?
- Proprietary method for identifying supply & demand channels combined with a directional bias computation based on recent historical prices
- Only signaling precise entries based on supply & demand that maximize R/R
- Tracking open positions and displaying a trading plan directly on the chart immediately after signaling entry points
- Indicating precise exit levels to help you avoid exiting too early or trading by emotion
What are the features included in alGROWithm?
Trading Plan Lines: These are the Buy/Short/Take Profit/Exit lines plotted directly on the chart
Show Long Signals: These are the green "BUY" labels that appear on the chart when alGROWithm identifies a critical breakout to the next supply level
Show Short Signals: These are the red "SHORT" labels that appear on the chart when alGROWithm identifies a critical breakdown to the next demand level
Show Take Profit Signals: These are the purple "TP" labels that appear on the chart when alGROWithm identifies that the subsequent supply/ demand level has been hit
Show Exit/Stop Loss Signals: These are the purple "EXIT" labels that appear on the chart when alGROWithm identifies that the trade has run its course and it's time to exit
Show Dashboard: This is a dashboard that is displayed to the right of the latest candle, and contains the following information:
- Current Position: "Long", "Short", or "None"
- Next Profit Target: Only displays if there is an active Position
- Current Bias: alGROWithm computes a directional bias based on recent historical prices. Text will say "Long" or "Short"
- Long/Short Bias Until: alGROWithm's bias will change if this price is hit. Note that these are not BUY or SELL levels - this simply indicates whether things are looking up or down
- Enter Short/Long At: Only displays if Current Position = "None"
Note that you can enable/disable any of these chart overlays at anytime through the indicator settings.
The alGROWithm indicator works on any timeframe, any market, and standard OR Heikin Ashi candlesticks .
I have been working very hard on this indicator and I personally use it on a daily basis with options trading. I am so excited to share the wealth with you!
You can use the link below to visit our website and gain access to the script.
Years of trading experience and endless hours of screen time has undeniably proven to me that the most fundamental rule of any market is: price moves from supply to supply and demand to demand. Specifically, this means that a breakout of a supply zone , the probability of it reaching the next supply zone before starting consolidate is very high. Similarly, a breakdown from previous demand zone will likely continue to the next demand zone . The identification method of these supply and demand channels is one of the features that sets this indicator apart from other available tools.
What separates alGROWithm from other available tools?
- Proprietary method for identifying supply & demand channels combined with a directional bias computation based on recent historical prices
- Only signaling precise entries based on supply & demand that maximize R/R
- Tracking open positions and displaying a trading plan directly on the chart immediately after signaling entry points
- Indicating precise exit levels to help you avoid exiting too early or trading by emotion
What are the features included in alGROWithm?
Trading Plan Lines: These are the Buy/Short/Take Profit/Exit lines plotted directly on the chart
Show Long Signals: These are the green "BUY" labels that appear on the chart when alGROWithm identifies a critical breakout to the next supply level
Show Short Signals: These are the red "SHORT" labels that appear on the chart when alGROWithm identifies a critical breakdown to the next demand level
Show Take Profit Signals: These are the purple "TP" labels that appear on the chart when alGROWithm identifies that the subsequent supply/ demand level has been hit
Show Exit/Stop Loss Signals: These are the purple "EXIT" labels that appear on the chart when alGROWithm identifies that the trade has run its course and it's time to exit
Show Dashboard: This is a dashboard that is displayed to the right of the latest candle, and contains the following information:
- Current Position: "Long", "Short", or "None"
- Next Profit Target: Only displays if there is an active Position
- Current Bias: alGROWithm computes a directional bias based on recent historical prices. Text will say "Long" or "Short"
- Long/Short Bias Until: alGROWithm's bias will change if this price is hit. Note that these are not BUY or SELL levels - this simply indicates whether things are looking up or down
- Enter Short/Long At: Only displays if Current Position = "None"
Note that you can enable/disable any of these chart overlays at anytime through the indicator settings.
The alGROWithm indicator works on any timeframe, any market, and standard OR Heikin Ashi candlesticks .
I have been working very hard on this indicator and I personally use it on a daily basis with options trading. I am so excited to share the wealth with you!
You can use the link below to visit our website and gain access to the script.
Release Notes:
alGROWithm v1.1 Updates:
NEW FEATURES:
- Option to disable risky trades in which conditions may be oversold/overbought
BUG FIXES & IMPROVEMENTS
- Improved Take Profit levels
- Performance tuning improvements
- Improved alert functionality
NEW FEATURES:
- Option to disable risky trades in which conditions may be oversold/overbought
BUG FIXES & IMPROVEMENTS
- Improved Take Profit levels
- Performance tuning improvements
- Improved alert functionality
Release Notes:
alGROWithm v1.11 Updates:
NEW FEATURES:
- Potential price reversal arrows added - can be turned off in settings. As seen in main script image above, reversal arrows can be a leading indicator for stop losses and opposite entries.
BUG FIXES & IMPROVEMENTS
- Improved Take Profit levels
- Improved Long and Short entry levels
- Removed Risky Entry option from settings - replaced with price reversal arrows
NEW FEATURES:
- Potential price reversal arrows added - can be turned off in settings. As seen in main script image above, reversal arrows can be a leading indicator for stop losses and opposite entries.
BUG FIXES & IMPROVEMENTS
- Improved Take Profit levels
- Improved Long and Short entry levels
- Removed Risky Entry option from settings - replaced with price reversal arrows
Release Notes:
alGROWithm v1.12 Updates:
BUG FIXES & IMPROVEMENTS
- Improved handling of precision in price levels. Drastic improvement for forex, crypto, and penny stocks with high precision prices (many decimal places)
BUG FIXES & IMPROVEMENTS
- Improved handling of precision in price levels. Drastic improvement for forex, crypto, and penny stocks with high precision prices (many decimal places)
Release Notes:
alGROWithm v1.12 Updates:
BUG FIXES & IMPROVEMENTS
- Improved handling of precision in price levels. Drastic improvement for forex, crypto, and penny stocks with high precision prices (many decimal places)
BUG FIXES & IMPROVEMENTS
- Improved handling of precision in price levels. Drastic improvement for forex, crypto, and penny stocks with high precision prices (many decimal places)
Release Notes:
alGROWithm v1.13 Updates:
BUG FIXES & IMPROVEMENTS
- Improved entry levels for edge cases
BUG FIXES & IMPROVEMENTS
- Improved entry levels for edge cases
Release Notes:
alGROWithm v1.13 Updates:
BUG FIXES & IMPROVEMENTS
- Improved entry levels for edge cases
BUG FIXES & IMPROVEMENTS
- Improved entry levels for edge cases
Release Notes:
alGROWithm v1.14 Updates:
BUG FIXES & IMPROVEMENTS
- Adjusted intraday settings to account for shortened trading days
BUG FIXES & IMPROVEMENTS
- Adjusted intraday settings to account for shortened trading days
Release Notes:
alGROWithm v1.14 Updates:
BUG FIXES & IMPROVEMENTS
- Adjusted intraday settings to account for shortened trading days like we had on 12/24
BUG FIXES & IMPROVEMENTS
- Adjusted intraday settings to account for shortened trading days like we had on 12/24
Release Notes:
alGROWithm Release 1.15
BUG FIXES & IMPROVEMENTS:
- Improved location of dashboard on 1 and 3 minute charts
BUG FIXES & IMPROVEMENTS:
- Improved location of dashboard on 1 and 3 minute charts
Release Notes:
alGROWithm v1.2
New Features:
- Trend Cloud
- Manual Sensitivity Setting
Trend Cloud
The new Trend Cloud is an extremely useful way to understand the general trend of the underlying asset at a quick glance. A green cloud means it's in an uptrend, and a red cloud means it's in a downtrend. The width of the cloud gives you information about strength of the trend (wide = strong).
There are 2 ways to use the Trend Cloud:
Confirmation of Buy/Short signals
When a Buy signal is shown and price is above the cloud, you can consider the signal a "Strong Buy." Similarly, when a Buy signal is shown and price is below the cloud, one potential strategy is to wait for price to break through the cloud, and buy when price is above the cloud.
Identifying ranging markets
A ranging market is when buyers and sellers seem to agree on a fair value price range, causing the asset to "chop around" or "move sideways" in a very tight area. This is sometimes a leading indicator of a big move in one direction or another, but these environments are extremely difficult to trade in. Trend Cloud characteristics during a ranging market are thin width and/or multiple crossovers/unders (green to red, red to green).
Note: You can hide the Trend Cloud if you wish through the indicator settings.
Manual Sensitivity Setting
alGROWithm now allows you to set your own sensitivity settings.
Lower number = tighter exit/stop loss levels and more signals
Higher number = more lenient exit/stop loss levels and less signals
Play around with the settings and do some back-testing on different timeframes to see which settings work for you.
New Features:
- Trend Cloud
- Manual Sensitivity Setting
Trend Cloud
The new Trend Cloud is an extremely useful way to understand the general trend of the underlying asset at a quick glance. A green cloud means it's in an uptrend, and a red cloud means it's in a downtrend. The width of the cloud gives you information about strength of the trend (wide = strong).
There are 2 ways to use the Trend Cloud:
Confirmation of Buy/Short signals
When a Buy signal is shown and price is above the cloud, you can consider the signal a "Strong Buy." Similarly, when a Buy signal is shown and price is below the cloud, one potential strategy is to wait for price to break through the cloud, and buy when price is above the cloud.
Identifying ranging markets
A ranging market is when buyers and sellers seem to agree on a fair value price range, causing the asset to "chop around" or "move sideways" in a very tight area. This is sometimes a leading indicator of a big move in one direction or another, but these environments are extremely difficult to trade in. Trend Cloud characteristics during a ranging market are thin width and/or multiple crossovers/unders (green to red, red to green).
Note: You can hide the Trend Cloud if you wish through the indicator settings.
Manual Sensitivity Setting
alGROWithm now allows you to set your own sensitivity settings.
Lower number = tighter exit/stop loss levels and more signals
Higher number = more lenient exit/stop loss levels and less signals
Play around with the settings and do some back-testing on different timeframes to see which settings work for you.
Release Notes:
alGROWithm Version 1.21 Updates
NEW FEATURES
- Candles are now colored to help even more with emotional trading. When in a Long position, candles are green; when in a short position, candles are red. This can be manually turned off in the settings, but highly recommended to ease the emotion that comes with seeing a big opposite colored candle that can trigger the "I SHOULD'VE STAYED IN!" emotional response.
- Take Profit labels are turned off by default to help with decluttering your charts. They can be manually turned back on in settings if preferred. Take Profit alerts will still work, and the Take Profit and Exit Lines are still visible.
- There will no longer be an Exit label on the last candle of an intraday chart. Improved agility in the algorithm made this feature unnecessary.
HAPPY TRADING!
NEW FEATURES
- Candles are now colored to help even more with emotional trading. When in a Long position, candles are green; when in a short position, candles are red. This can be manually turned off in the settings, but highly recommended to ease the emotion that comes with seeing a big opposite colored candle that can trigger the "I SHOULD'VE STAYED IN!" emotional response.
- Take Profit labels are turned off by default to help with decluttering your charts. They can be manually turned back on in settings if preferred. Take Profit alerts will still work, and the Take Profit and Exit Lines are still visible.
- There will no longer be an Exit label on the last candle of an intraday chart. Improved agility in the algorithm made this feature unnecessary.
HAPPY TRADING!
Release Notes:
Bug fix for bar coloring
Release Notes:
Updating example chart
Release Notes:
alGROWithm v1.23 Release Notes
NEW FEATURES
- To help with emotional trading, all signals are colored gray until the candle closes to confirm the signal. Once the candle closes, the color of the label will change, indicating a confirmation
- Reversal clouds have been added to help identify overbought or oversold conditions. This can of course be turned off through Settings if desired
- Ability to move dashboard vertically as desired has been added. This replaced the ability to move dashboard horizontally
- For intraday charts, all positions are exited on the last candle of the day, and no trades are signaled during off hours. This allows the algo to have "fresh eyes" at session open
NEW FEATURES
- To help with emotional trading, all signals are colored gray until the candle closes to confirm the signal. Once the candle closes, the color of the label will change, indicating a confirmation
- Reversal clouds have been added to help identify overbought or oversold conditions. This can of course be turned off through Settings if desired
- Ability to move dashboard vertically as desired has been added. This replaced the ability to move dashboard horizontally
- For intraday charts, all positions are exited on the last candle of the day, and no trades are signaled during off hours. This allows the algo to have "fresh eyes" at session open
Release Notes:
alGROWithm v1.24 Release Notes
- Minor bug fix to always paint TP labels purple as they should be confirmed as soon as they are signaled.
- Minor update to Dashboard
- Minor bug fix to always paint TP labels purple as they should be confirmed as soon as they are signaled.
- Minor update to Dashboard
Release Notes:
alGROWithm v1.24 Release Notes
- Minor bug fix to always paint TP labels purple as they should be confirmed as soon as they are signaled.
- Minor update to Dashboard
- Minor bug fix to always paint TP labels purple as they should be confirmed as soon as they are signaled.
- Minor update to Dashboard
Release Notes:
Updating example chart
Release Notes:
Updating associated image
Release Notes:
Updating associated image
Release Notes:
alGROWithm v1.24.1 Release Notes
NEW FEATURES
- New "Stop Loss Strategy" setting allows you to choose between a "Lenient" (default) or "Strict" setting. "Lenient" stop loss setting uses the trend flip point as the stop loss. "Strict" stop loss setting uses low of entry candle or low of most recent Take Profit signal.
- Consolidated all alerts into one signal for easy alert creation.
- Added tooltips and grouping to indicator Settings for convenient reference of each parameter.
NEW FEATURES
- New "Stop Loss Strategy" setting allows you to choose between a "Lenient" (default) or "Strict" setting. "Lenient" stop loss setting uses the trend flip point as the stop loss. "Strict" stop loss setting uses low of entry candle or low of most recent Take Profit signal.
- Consolidated all alerts into one signal for easy alert creation.
- Added tooltips and grouping to indicator Settings for convenient reference of each parameter.
Release Notes:
Bug fixes:
- Fixed stop loss line painted on chart
- Added alert frequencies
- Fixed stop loss line painted on chart
- Added alert frequencies
Release Notes:
Bug fixes:
- Fixed stop loss line painted on chart
- Added alert frequencies
- Fixed stop loss line painted on chart
- Added alert frequencies
Release Notes:
Reverted all-in-one alert function as was not behaving as expected. Will reintroduce asap. For now, each signal has its own alert.
Release Notes:
Reverted all-in-one alert function as was not behaving as expected. Will reintroduce asap. For now, each signal has its own alert.