Stock Algo Gamma
Last updated
Last updated
Stock Algo Gamma is our latest set of indicator, incorporating pivot points, moving averages and additional data points to offer deeper insights.
Stock Algo Dashboard identifies optimal entry point and multiple take-profit levels for both long and short positions in stock movement. While it delivers insights across any timeframe, it is particularly beneficial for long-term traders. Ideally, one should wait for the optimal entry point before beginning to accumulate a position in a stock..
Integrating: To begin, expand the "Indicators" dropdown menu and navigate to the "Invite-Only" tab. From there, locate and select the "Alpha Supply Demand v1." Upon selection, the chart will show different zones of Supply and Demand with Red and Green colors according to the zone its pointing to.
Gamma: Upon integration, you will observe the chart displayed below, illustrating TSLA's Entry level, alongside the Take Profit and Stop Loss. These values are dynamically computed based on the selected timeframe.
Entry Level: The designated price level is marked in grey and serves as your reference point for initiating a position. For example, when trading on a daily candlestick chart, this grey level serves as the critical threshold. If the stock closes above this price within the current candlestick for that specific timeframe, it provides a signal to consider opening a position. This approach ensures that the entry is based on confirmed price movement.
SL (Stop Loss): If your entry is invalidated, the SL provides guidance on when to sell and exit the position to minimize losses.
TP (Take Profit): Take profit levels indicate where to sell portions of your position at different stages, allowing you to gradually secure profits. Consistently booking profits is essential for a successful trading strategy.
Settings Menu: By hovering your Mouse over the StockAlgo Gamma and opting for the "Settings" feature, you gain the ability to alter both the visual display and underlying configuration. This will unveil a screen analogous to the one depicted below. Upon interacting with the highlighted settings buttons, the corresponding interface, as illustrated, will be presented, allowing for further customization .
Inputs:
Show Entry/SL/TP: Adjusting the Take Profit 1/2/3 values modifies the frequency at which TP1, TP2, and TP3 levels are triggered. In most cases, the default values of 1, 2, and 3 should suffice for the majority of traders.
Bull Color and Bear Color: You can customize the Bull and Bear color display as desired. By default, these are set to Green for Bull and Red for Bear.
Style:
Labels: By deselecting the labels checkbox, you can view only the Entry point, Take Profit, and Stop Loss lines, resulting in a cleaner visual presentation.
Lines: By deselecting the lines checkbox, you can view only the Entry point, Take Profit, and Stop Loss labels.
Precision: The precision value can be adjusted to modify display styles, though these changes offer minimal impact on the overall chart.
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.
