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- Alerts of every trading setup in the trading system
- VSA Signal + Background Setup
- Dynamic Trend Setup
- Trendline Setups
- Supports/Resistances Setups
- The indicator automatically looks at the important factors for a successful trade
- Every alert brings an explanatory description and suggested stop-loss and take-profit, shown in the chart
- Alerts sent to Smartphone and/or email optionally
- Draws Short-Term, Medium-Term and Long-Term Supports/Resistances optionally
- Draws the Dynamic Trend with different colors for uptrend, downtrend and trend changing
This alert system aims to assist the trader with automated alerts, so that he can act when he receives one of those alerts, instead of constantly screening the market for opportunities. The options to receive them by email and/or smartphone notifications, makes it possible to be away from the computer and still know what’s happening in the markets. These are accompanied by an explanatory text, in the chart, on what you should look for a potential trade entry. It’ll also show a suggested stop-loss and take-profit price.
It’s an aiding indicator to trade the system explained in the TRADING GUIDE.
The indicator features the 5 different type of setups in the system. They are:
- Supply/Demand + Background Alert
- Dynamic Trend Alert
- Support/Resistance Nearby Alert
- Support Breakout Alert
Why so many? Well, diversification is not just about trading unrelated markets, it’s also about trading different strategies, as long as they have a solid base. The indicators can be used in these many ways, and all rests on the imbalance of supply/demand, and confirmation.
The alerts will be sent to email and/or as push notification (optionally), and they show:
- An explanatory description, shown in the chart, on what to look for, and a link for more information on the given setup, to help making the trading decision
- Suggested stop-loss, take-profit and move to break-even level
Each of these setups naturally have a different dynamic and the indicator adjusts the suggested stop-loss and take-profit levels for each one of them. Each of the setups is profitable on its own, and can be used independently of the other setups.
Take-Profit 1 (TP1)
When the price reaches this level, you should move your stop-loss to break-even.
Take-Profit 2 (TP2)
You should set the take-profit in this level when you open the trade.
You should set the stop-loss here in most cases. The only exception is when there is a support nearby, in which case you should set the stop-loss below it instead (vice-versa for resistances).
Other Exit Criteria in the trading system
In addition to exiting on the take-profit, a long trade should also be closed after (vice-versa for short trades):
• A VSA signal (dot/circle/square) in the opposite direction of the trade (e.g. one Supply signal when holding a long trade)
• Close ½ the position when reaching a long-term resistance (solid red lines)
• Important upcoming news
Set to true to set GMT offset – If setting GMT offset manually, set this setting to true. It’s not necessary to set GMT offset manually if no warning message appears on the chart. The indicator automatically detects it and saves it for further use.
Set your broker’s GMT offset – If setting GMT offset manually, set your broker’s GMT offset here
Alerts Activated – Set to true to activate alerts
Alert when Price reaches TP Level – If true, the indicator will alert when price reaches to the take-profit level
Alert Sound – Send out a sound alert when there is an alert
Text in chart on Alert – Show alerts on the chart
Email alert – Send alerts by email
Push Notification alert – Send alerts to smartphone
Write alerts’ description in chart – Show explanation window of alert
Alerts’ description corner – Corner for alert description window to appear
Font Size – Font size of the window’s text
Font Style – Font style of the window’s text
Bullish alerts description font color – Color for bullish alert
Bearish alerts description font color – Color for bearish alert
Check for updates automatically – Automatically checks and notifies of new updates, if set to true
Module VSA Signals
Activate VSA with Background Alerts – Activates alerts of VSA Signal + Background
Module Dynamic Trend
Draw Dynamic Trend – Draws dynamic trend
Color drawn dynamic trend – Colors dynamic trend by its movement (uptrend, downtrend, changing). Colors are chosen in the ‘Colors’ tab
Activate Dynamic Trend Alerts – Activates dynamic trend change alerts, using background and other factors as filter
Dynamic Trend Period – choose dynamic trend period to use
Draw long-term S/Rs – Choose true to draw long-term supports/resistances
Draw medium-term S/Rs – Choose true to draw mid-term supports/resistances
Draw short-term S/Rs – Choose true to draw short-term supports/resistances
Activate long-term S/Rs Nearby Alerts – If true, it will alert of nearby supports/resistances, using background and other factors as filter
Activate medium-term S/Rs Nearby Alerts – If true, it will alert of nearby supports/resistances, using background and other factors as filter
Activate long-term S/Rs Breakout Alerts – If true, it will alert of supports/resistances breakouts, using background and other factors as filter
Activate medium-term S/Rs Breakout Alerts – If true, it will alert of supports/resistances breakouts, using background and other factors as filter
Activate Multi-timeframe Trendline Alerts – Set to true to activate multi-timeframe trendline alerts. These will alert of drawn trendlines nearby, or breakouts, using other timeframe’s bars as filters
Resistance line color – Color for drawn resistances
Support line color – Color for drawn supports
The colors for the dynamic trend and SL/BE/TP dots are set in the ‘Colors’ tab.