Pro Signal by Autobot

25. Apr. 2024

Purpose: This custom TradingView indicator is designed to generate buy and sell signals while combining volume analysis, trend following, and volatility considerations. It aims to increase the reliability of signals and potentially reduce trades taken in choppy, ranging markets.

Key Components:

Volume Delta and Delta Volume: The script measures positive and negative changes in volume, using thresholds to identify significant volume surges.
MACD: The classic Moving Average Convergence Divergence indicator is incorporated to help confirm the overall trend direction and look for potential reversals.
Trendline (SMA): A simple moving average trendline helps visualize the dominant price direction and acts as a support/resistance level for trade decisions.
ATR Range Filter: The Average True Range is used to identify periods of low volatility. Trade signals are suppressed during these periods to reduce whipsaws typical in ranging markets.

How to Use:
Apply to Chart: Add the indicator to your desired chart in TradingView.
Customize: Adjust the input parameters for MACD lengths, trendline length, volume thresholds, and ATR settings to match your trading style and the asset being analyzed.
Signal Key: You can input any letters or number as you wish but make sure that you also apply this same Signal Key to your Autobot Trading.
TradingView Alerts: Configure alerts to receive notifications when buy/sell signals occur. These alerts can include potential trade direction and symbol information.

Important Notes:
Not a Standalone System: This indicator is best used as one tool within a broader trading strategy. Combine it with other technical indicators, fundamental analysis, and sound risk management practices.
Backtest and Optimize: Thoroughly backtest the indicator on historical data and experiment with different settings to determine its effectiveness on your chosen assets and timeframes.

Let me know if you'd like any specific sections elaborated on or if you have further customization ideas!

26. Apr. 2024

Versionshinweise

Update the input datas so that users kick with the best setting by default.

30. Mai 2024

Versionshinweise

In this updated script, two new input options enableBuySignal and enableSellSignal are added. These boolean inputs allow the user to enable or disable the buy and sell signals.

The buy and sell signal conditions are then modified to check these inputs before generating the signals.

19. Aug. 2024

Versionshinweise

Explanation of the Changes:

1. New Input:
• maxConsecutiveCandles: This input allows you to specify the maximum number of consecutive bullish or bearish candles allowed before ignoring a signal.
2. Candle Counting:
• bullishCount: Counts the number of consecutive bullish candles (where the close is higher than the open).
• bearishCount: Counts the number of consecutive bearish candles (where the close is lower than the open).
3. Signal Filtering:
• The buy and sell signals now include conditions that check if bullishCount and bearishCount are less than or equal to maxConsecutiveCandles. If there are too many consecutive candles of the same type, the signal is ignored.