Cyatophilum Levels [ALERTSETUP]

Cyatophilum Levels - Version 1.0 - Alert setup

This indicator allows you to build your own strategy based on Fibonacci levels, and create automated alerts for long & short entries and exits.

This study also has a backtest version. See my previous script.

The Fibonacci levels are printed automatically in real time and without repainting on the chart.

You configure your own strategy in the indicator parameters. You can choose to go long or to go short, or both, on which Fib levels to enter Long/Short, and on which Fib levels to exit (up to 2 entry levels and exit levels).

Detailed Guide:

This is a guide that can be useful if you do not understand the strategy or an indicator parameter. Instructions on how to get access are at the bottom.

To configure your strategy, you need to open the indicator settings. You can either right-click on the indicator and click "settings", or click the settings button near the indicator's name.

You should know that the Fibonnaci levels are calculated from the support and resistance levels, which are calculated using the last swing high and swing low. This behavior can be tweaked in the settings with the first 2 parameters:

· Noise reduction
Dropdown menu. Options are "NONE", "SMALL", "MEDIUM", "HUGE". Used to get a smoother level behavior. The higher it is, the less often the support and resistance levels will move. Can be useful to cut off fakeouts.

· Swings lookback
This is the number of historical bars used to calculate the last swing high and swing low.

In TradingView, we usually wait bar close to validate a signal (trade entry or exit), in order to avoid repainting. But since this indicator is purely based on price action, there is an option called Alert Type if you want to receive intra-bar alerts or not.

· Entry Alert Type
2 options : "Once Per Bar Close", "Once Per Bar". These correspond to the alerts options. You must use the same alert type in the indicator settings and in the alert options. When using "Once Per Bar", the candle high and low are used for the cross conditions, otherwise, candle close is used.

· Exit Alert Type
Same but for exit alerts.

The long trades setup can be configured independantly from the short trade setup, but the parameters are the same.

■ Go Long/Short
Check this box to enable/disable long/short trades.

· Long/Short Entry Condition
Dropdown menu from which you can pick the condition for your entry. Options available are "Cross Over","Cross Under" and "Just Cross".

· Long/Short Entry 1
Dropdown menu from which you can pick the level for your entry n°1. Options available are "Support","FIB 23", "FIB 38", "FIB 50","FIB 61","FIB 78" and "Resistance".

· Long/Short Entry 2
Additional FIB level entry.

· Long/Short Exit 1
Dropdown menu from which you can pick the level for your exit. Options available are "Support","FIB 23", "FIB 38", "FIB 50","FIB 61","FIB 78" and "Resistance".

· Long/Short Exit 2
Additional FIB level exit.

■ Trend Filter
Optionnal Tilson T3 TrendLine to make the strategy go long only when price is above T3 (green) and short only when price is below (red). The length in bars is configurable.

· Configuration Panel
It should appear on the left of the chart. This panel displays the whole indicator settings in a compact and easy-to-read way. You can replicate a strategy from just this info panel. Can be turned off if needed.

· Graphic options
A red/green background corresponding to the strategy position (short/long) can be turned off.
The Fib levels labels can be turned off all at once.

Risk management:
Place your secondary exit one or two levels above/below your entry to act as a stop loss.

Availabe alerts:
To create an alert, right-click on the indicator and click "Add alert".
The LONG alerts corresponds to the green labels on chart, while the SHORT are in red.
Select one of the following signals in order to create your strategy:
· LONG/SHORT ENTRY : Alert to enter a long/short. Make sure to select "Once Per Bar" or "Once Per Bar Close" according to the "Entry Alert Type" parameter.
· LONG/SHORT EXIT : Alert to exit a long/short. Make sure to select "Once Per Bar" or "Once Per Bar Close" according to the "Exit Alert Type" parameter.

Default settings are set for 15m.

Use the link below to obtain access to this indicator

Notas de prensa:

Behavior changed: it is no longer possible to have 2 positions open at once.

Notas de prensa:

Bugfix when the same candle crosses the entry and exit.

New feature: Stop loss when trend changes color (optionnal, disabled by default)

Notas de prensa:

New alerts for specific exits.

Notas de prensa:

Added alert for Long + Short exits

Notas de prensa:

Stop Loss and Take Profit system added.
Exit alerts updated to include SL & TP.
New alerts related to SL & TP.

Notas de prensa:

Added "None" option to Long and Short Entry 1

Notas de prensa:

Sync with backtest version 132