No more guessing whether or not you should trust an indicator. See your indicators' past performance at a glance.
No more false alarms. Disable re-painting of signals.
When multiple indicators overlap, a Confluence indicator will print (large triangle). With your settings properly tuned, this will show a HIGH probability of a move.
Current Signal/Alert Options (more to come):
Buy Signal Confluence
Sell Signal Confluence
-Enable/disable individual indicators so you can fine tune one at a time
-Adjust the indicator's settings
-Adjust your trade parameters (Max Wait, Take Profit %). Signals that would have given the desired profit in the time allowed will be painted orange.
-Repeat this process with each indicator until you're satisfied
Keep in mind, the Max Wait is still in Candles. So if you're on a hourly timeframe with a value of 10, the indicator will only print a win if your Profit setting is reached within 10 hours after the signal prints.
Changed default settings to a more reliable setup.
Disabling re-painted signals makes it so the signal is only drawn on historical candles... Because alerts only trigger on current candles, this was causing alerts to not show at all. I've changed default settings to disable this feature, but I've kept it in case you'd like to use it for some reason.
Best configuration for alerts is to uncheck "Disable Re-Painting Signals", and set your alerts to "Once Per Close".
Improved default settings.
-Added Engulfing Candles as an alert
-Confluence signals will trigger when >1 signal is active on a single candle
-Removed "Re-painting" feature
Buy/Sell Confluence alerts were still defined as "RSI AND EMA = Confluence"... Now they will trigger if any two conditions are true. (if Signal Count >= 2, then Confluence is true)
- ADDED "ANY BUY" & "ANY SELL" ALERT
Now you can set an alert that will trigger if any one condition is true on the buy or sell side.
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.