SignalPro
Last updated
Last updated
SignalPro will trade with the trend when the market is trending.
Favorable conditions:
Market condition: Trending environment, not ranging or choppy.
Timeframe: 15min to 4hr
Assets: Trending steadily upward/downward without excessive volatility in a short period of time.
Default: Will give both long and short signals
Long Only: Will give only long signals
Short Only: Will give only short signals
Fixed: Each entry will have fixed TP1, TP2, and SL levels.
Dynamic: Each entry will have only the SL level and will exit the position as soon as a potential reversal occurs.
Hybrid: Each entry will have only a fixed TP1 and a SL level, while it will still exit the position when a potential reversal occurs.
Switch between algo calculation methods. When enabled, sensitivity can be adjusted. Higher values make low timeframe trends align more closely with high timeframe trends.
For instance, if the high timeframe market is trending upward, enabling the switch with a higher sensitivity makes short signals less likely. However, the algo becomes less responsive, requiring a more obvious reversal to generate short signals.
Lower values make the algo more sensitive, generating more signals but with less confidence.
Similar to mode switch sensitivity, this setting focuses on the current timeframe trend. With higher sensitivity, larger price moves are needed for signals, filtering out fakeouts, but overly high sensitivity can cause late entries.
The higher the value, the closer the low timeframe trend is to the overall high timeframe trend.
When the Mode Switch is disabled, the Trend Index determines the high timeframe trend. Higher values align low timeframe trends more closely with high timeframe trends but can result in late entries.
Filter out signals with higher risk. Lower values make the algo less tolerant.
Tolerance doesn't directly affect win rate but represents potential loss if a trade gets stopped. A tolerance of 0 means no risk is allowed, so no trades occur, while 101 allows all potential trades.
Positive values allow the algo to trade with the overall trend, while negative values permit trading against it. The Trend Index directly affects the overall trend calculation.
The trend index calculates the overall trend direction. A direction index of -0.5 allows long signals even during slight downtrends, while -5 allows long signals in strong downtrends. A large positive value, like 5, enables long signals only in strong uptrends.
Filter out signals in ranging markets. Smaller values result in fewer signals being filtered out. The Trend Timeframe determines the market condition timeframe.
As the algo isn't designed for ranging markets, it's necessary to filter out signals during these periods. For example, a 4-hour timeframe means the algo examines the 4-hour market condition to determine if it's ranging.
The risk and reward for take profit levels depend on the stop loss distance from the entry. For example, if the stop loss is 3% away, a TP1 value of 1 places TP1 3% from the entry, while a TP2 value of 2 positions TP2 6% from the entry.
If the start is 2023-01-01 08:00 it means no trades will happen before that. Same with the end, if both are enabled, you can set a backtest period.
When enabled, set a fixed number of days for the backtest period, e.g., 30 days means using the last 30 days of data.
Choose to display a table in the bottom right showing average entry, SL, and TP1/TP2. The average entry text turns green for a long trade and red for a short trade.
Opt to display a floating table with backtest results on the chart. Enable this when using the TradingView app, as the strategy tester isn't available in the app.
