INVITE-ONLY SCRIPT
Algotrdr
Updated
Algotrdr is an indicator designed around 3 features that work together on any asset, and on all timeframes, to help you achieve profitability while trading. Let’s take a look at what the three features are.
Signals
This indicator’s signal feature has a proprietary trend algo that uses our own trend strength feature, multiple moving averages, volume, candle data, and fibonacci levels. When a candle meets the base signal requirement it then uses a dynamic bullish and bearish score from our Volume Trend Strength algo to either plot the signal or wait for another. You can also do another cross check and only plot signals that align with a larger MA defined trend.
Volume Trend Strength
This feature tracks the current trend strength. It analyses Volume, VWMA, Mcginley Dynamic MA, differences in price, and recent retraces going against the trend to print bullish/bearish colors that get darker as the trend gets stronger. It also turns yellow when there isn’t enough volume supporting the current trend, which can indicate an upcoming trend reversal. This feature can be switched to appear as a color changing MA.
Take Profit / Pivot Levels
Prints Tradingview’s Fibonacci Pivot Points on the chart to help users identify potential take profit and S/R levels. I also added 4th and 5th S/Rs that use 1.618 and 2.618 levels.
Aside from the signals the other two features come with an off switch incase you don’t want to use either of them.
Signals
This indicator’s signal feature has a proprietary trend algo that uses our own trend strength feature, multiple moving averages, volume, candle data, and fibonacci levels. When a candle meets the base signal requirement it then uses a dynamic bullish and bearish score from our Volume Trend Strength algo to either plot the signal or wait for another. You can also do another cross check and only plot signals that align with a larger MA defined trend.
Volume Trend Strength
This feature tracks the current trend strength. It analyses Volume, VWMA, Mcginley Dynamic MA, differences in price, and recent retraces going against the trend to print bullish/bearish colors that get darker as the trend gets stronger. It also turns yellow when there isn’t enough volume supporting the current trend, which can indicate an upcoming trend reversal. This feature can be switched to appear as a color changing MA.
Take Profit / Pivot Levels
Prints Tradingview’s Fibonacci Pivot Points on the chart to help users identify potential take profit and S/R levels. I also added 4th and 5th S/Rs that use 1.618 and 2.618 levels.
Aside from the signals the other two features come with an off switch incase you don’t want to use either of them.
Release Notes
Bull/bear score improvements.Release Notes
Gave the volume trend strength ma line its own set of bold colors since the last set was difficult to see.Release Notes
Volume trend strength improvements.Release Notes
Changed default settings.Release Notes
Changed the step of the signal sensitivity setting to add more control options at the request of a userRelease Notes
Fixed an issue and trend adjustments.Release Notes
Added a new signal mode selector which allows users to tell the indicator to prioritize faster breakouts, or reduce choppy signal periods (safemode), or to continue using default mode.Release Notes
Trend tweaksRelease Notes
Typo fixInvite-only script
Access to this script is restricted to users authorized by the author and usually requires payment. You can add it to your favorites, but you will only be able to use it after requesting permission and obtaining it from its author. Contact algotrdr_ for more information, or follow the author's instructions below.
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Author's instructions
″Visit our website https://www.algotrdr.com/ to sign up.
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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.