Introduction
Step 1.
Tradingview Indicator
To access the application, go totradingview.comand select the "chart" tab from the home page (link). From there, select the Indicators button on the top of the screen. You'll see an option for "Invite-only scripts", select "UltraAlgo". If youdo notsee the "Invite-only script", please make sure that you open a ticket with support and send us yourTradingview Username.Click hereto open a ticket.
Step 2.
Configuring View
[Chart Type] We recommend that customers use the Heikin Ashi chart. [!] For Forex trading we recommend using regular candles.
[Time Period] This can be adjusted to reflect your trading strategy. We recommend a 5-minute view for default, but adjusting the time interval to longer period will allow customer to experience a broader view of general price movements.
[Institutional Activity] Adjust this multiplier on the standard deviation to trigger the Ultra Bull / Ultra Bear signals which reflect jumps in the security. This is usually a strong indicator of Institutional as they suggest if an abnormally large block of shares is being traded. [Gain] This feature allows customers to adjust the indicators to match the volatility and frequency that a pattern is displayed across a stock. Generally, the lower ranges are designed for more aggressive price movements. We set the volatility to default at 6. It's recommended to limit adjusting the volatility from a minimum of 3 to a maximum of 15. [!] For Forex trading the Stop Loss / Profit Targets are customized to Pips (Percentage in Point).
[Base Function] By default, the indicator has an even weighting across 15 technical indicators. We allos customers to select a range of technical indicators based on the most profitable output. This allows for a heavier weighting to be allocated to specific indicators such as: BASE, EMA, RMA, SMA, VWMA and WMA. We recommend starting with the "BASE" output for beginners.
[High / Low Bands] One additional feature that was added includes the resistance and support lines. This allows traders to quickly determine if the security is generally over extended without having to zoom in and out.
[Key Data] Reference indicators have been included within the chart (bottom left), with definitions across the following: EMA (Exponential Moving Average), SMA (Simple Moving Average), VWMA (Volume Weighted Moving Average), RSI (Relative Strength Index), MACD (Moving Average Convergence Divergence). The color toggles from purple to red, contingent on the postion of the price relative to the indicator.
Step 3.
Backtesting
[Back-Test Configuration] In order to optimize performance customers may adjust the lookback period of the algorithm by setting a "Start Time" and "End Time". In addition to these definitions, a "Stop Loss [%]" and "Profit Target [%]" may be applied.
[Back-Test Removal] To remove the back-test from display, mouse-over the script on the left of the screen and select the gear (Settings) icon. Select the "Style" tab on the pop-up and scroll to the bottom of the pop-up. Here you will un-check the 3 boxes: Trades on Chart, Signal Labels, Quantity.
Step 4.
Tradingview Subscription
[Add Data Subscription] This will allow you to receive market data in real-time (the standard subscription delivers the data with up to 5 minutes delayed). Navigate to your Username on Tradingview and select "Account and Billing". Scroll half way down the page to "Extra Data Subscription" and Add NYSE ($2/month), OTC ($2/month) and NASDAQ ($2/month). If you are trading Forex and Crypto, the additional data subscription is not required.
Software Requirements
Our algorithm currently lives on the Tradingview Platform. In order to begin you'll need to purchase a Pro license ($14.95 / Month). Tradingview offer a 30-day free trial for those not currently subscribed to the platform. Click here to begin your trial.
For Real-Time Trading, Data Subscriptions to NYSE ($2/month), NASDAQ ($2/month) and OTC ($2/month) are recommended. If you're trading Forex or Crypto the additional data subscriptions are not required.
