AlgoPro V1.4
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Last updated
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The AlgoPro V1.4 is the latest version of the AlgoPro tool kit. Unlike the V1.3 which is a very advanced and complex system aimed at advanced traders, the mission of the V1.4 is to have an easy to use system that any level of trader can understand, while still taking advantage of our advanced algorithms.
To accomplish the usability of this tool kit, we have simplified our algorithms into two sensitivities for both buy and sell signals designed to be extremely easy to tweak to see how it affects your signals, and included preset options to aid you in finding optimal settings for your trading journey. You can currently select preset universal options for different time frames and we will be incorporating preset strategies for specific assets/markets in the future. If you want to control all of the settings yourself, make sure you have the preset set to "Manual". You can view our Preset Strategy Dashboard at the bottom of your chart to see the active settings being used. Simply click the dropdown to choose a preset.
The AlgoPro V1.4 uses a take profit and stop loss system that is based on the volatility of an asset. The more volatile the asset is when a signal is triggered, the more aggressive the take profit and stop loss targets will be, and vice versa when price action is not volatile. This is very useful in determining high percentage trade targets no matter what price action does. You can change the sensitivity of the take profit and stop loss levels in the settings.
Figuring out a good trading system just by eyeballing past trades and behavior is very difficult, especially for new traders, so we've implemented a backtesting dashboard to help you find a winning strategy. The backtesting panel will show the amount of trades performed, as well as the win percentage of how many trades reached certain Take Profit Zone. The backtesting date used can be adjusted in the settings panel.
The V1.4 utilizes the same trend dashboard as on the V1.3 to aid you in keeping track of a certain asset across all time frames.
The AlgoPro V1.4 also utilizes a brand new dashboard that we call the confirmation dashboard. This dashboard shows you the current status of 30+ technical indicators that the V1.4 does not use in its algorithm, and aids you in seeing the current market sentiment of the asset based on those technicals. If more techincals are bullish than are bearish, the dashboard will likely show a "Buy" or "Strong Buy" as the current market sentiment as well as the percentage of the technicals that are giving you that information. If the techincals are split on whether an asset is a current buy or sell, the confirmation dashboard will likely show a neutral status. This dashboard is great for aiding in confirming a signal, or deciding when to potentially exit.
Creating alerts for the V1.4 on TradingView is a very simple process. Simply hover over the indicator name (AlgoPro V1.4) and click the three dots on the far right - then click add alert. This will bring up the alert panel in which you choose what signal you want the alert to be for. For buy and sell signal alerts, choose 'once per bar close' when creating your alert. For the take profit and stop loss alerts, we recommend to choose either 'once per bar' or once per bar close.
