Stock Algo Alpha
Last updated
Last updated
This versatile indicator is designed to be your go-to tool for navigating the complex world of trading. Whether you're a novice just getting started or an experienced trader seeking to enhance your trading strategy, Stock Algo Alpha is here to simplify your process and boost profitability.
Stock Algo Alpha is a state-of-the-art trading indicator powered by artificial intelligence. It’s designed to deliver optimized Buy and Sell signals in a selected time frame, streamlining your trading decisions and enhancing your potential for success.
Adding: Upon integrating Alpha into your TradingView chart, the layout presented will be the default configuration you observe. One can observe a multitude of buy and sell signals, accompanied by delineated short and long take profit levels, as well as the presence of bullish and bearish clouds on the chart .
Cloud: The cloud, when situated in a bearish zone, will manifest as red, while in a bullish zone, it will appear green. Ideally, entering at the onset of the cloud is likely to yield greater returns. As the cloud widens, it is advisable to begin realizing profits. Our designated profit-taking levels will effectively indicate these zones accordingly.
Settings Menu: By hovering your Mouse over StockAlgo Alpha and selecting the settings option, you can modify the display and configuration, revealing a screen comparable to the one illustrated below. Upon selecting the highlighted settings buttons, the corresponding screen, as shown below, will be revealed.
Settings:
Fill the Trend: Upon deselecting this feature, the chart will render without the trend fill, offering a more streamlined visual representation.
Sensitivity: Lowering the sensitivity value results in a higher frequency of Buy and Sell signals within the designated time frame. For optimal performance, it is advised to maintain the sensitivity at either 2.0 or 2.5. The screen below illustrates the number of alerts that will be displayed with a sensitivity setting of 0.5.
Show Buy/Sell Signals: Disabling this option will suppress the display of Buy and Sell signals on the chart, providing a cleaner view devoid.
Show Additional Buy/Sell Signals: In a scenario where the chart is set to the daily time frame and the stock is in a bullish Buy signal zone, sudden intraday fluctuations or market uncertainty might cause a temporary downturn. The algorithm evaluates whether the stock will persist in its bullish trajectory, generating a signal to potentially increase the portfolio position. It is advisable to utilize this feature only after gaining familiarity and confidence with the standard Buy/Sell signals. You can view the Buy Add and Sell Add signals indicated in the Chart after the option is selected.
Show SL/TP: Enabled by default, this feature provides multiple Take Profit levels should the stock sustain its upward bullish movement, allowing traders to progressively secure profits. Or Conversely if the Bullish Set up fails and a Stop Loss need to be taken. Consistently securing profits and implementing stop-loss measures when circumstances are unfavorable are hallmarks of a skilled trader.
Nestled within the settings menu, one will find an option to alter the chart's style. This functionality provides a comprehensive array of customization possibilities, enabling users to modify the colors of diverse elements such as bars, plot candles, take profit levels, and precision parameters, thereby enhancing the visual representation to there choice.
Visibility: This setting is used to configure the display of time intervals such as seconds/minutes/ hours etc on indicator. It is strongly recommended to avoid making any changes to these settings.
Reset Settings: You can revert any settings to their default values by expanding the "Defaults" dropdown and selecting "Reset Settings." Alternatively, you can save your current settings as the new default using the "Save as Default" option. However, proceed with caution, as this action will overwrite the original default values provided by Stock Algo that have been modified by the user.
The default settings configured on the charts are typically sufficient for the vast majority of traders. Nonetheless, we strongly advocate for users to undertake adjustments to these settings once they have attained a comprehensive understanding of the tool, thereby facilitating a more bespoke trading experience.
