AlgoPro V1.3

A deep dive into the AlgoPro V1.3 System

The AlgoPro V1.3 is our newest trading system that takes some core algorithmic elements from the V1.2, and makes them even better within a revamped system of confluence and smart money concepts. The V1.3 takes our core system, but gives you the ability to add confluence of other technical tools and popular indicators/tools to filter your buy and sell signals. The addition of confluence and smart money concepts is to remove false signals on different timeframes and assets, as well as to completely mold your strategy into your exact trading style. Once you do fine tune your strategy to what confluence you want, each option you've chosen as confluence to your trade can be tweaked even further by fine tuning each tool you've selected in our settings panel. With unlimited options for creating a trading strategy, the V1.3 is the perfect tool kit for any trader looking to find something to cater to their trading style.

Setting Up Your Signals

Figuring out your strategy with the V1.3 is a fairly simple process. If you open up your settings panel, you'll find the dashboard to fine tune your signals. The V1.3 algo will run off one main indicator that you choose (by default is the AlgoPro Core System) and then you have the option to choose which other signals you want to add confluence with your main signal (filter out signals where all conditions are not met). You will see the 'Buy/Sell Signal Candle Expiry' which is how many candles the system will wait after the main signal has fired for all the further conditions you've chosen for a trade to agree on that entry. If all of the conditions you've chosen for a trade entry do not align with your main signal within those amount of candles, the signal will be skipped and filtered out.

A Backtester to Help Define Your Strategy

Figuring out a good trading system just by eyeballing past trades and behavior is very difficult, so we've implemented a backtesting dashboard to help your 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 a Take Profit Zone that is shown on your chart. Furthermore, you'll also see the individual win percentage for each take profit level. The backtesting date used can be adjusted in the settings panel at the bottom under 'Trade Dashboard'.

Trend & Signal Dashboard

The V1.3 also utilizes the same dashboard as the V1.2 - showing you the overall trend for multiple time frames at a glance.

Smart Money Concepts and Visual Overlays

The V1.3 also utilizes the addition of smart money concepts to help guide your trading. We've added various tools such as supply and demand zones, ranging/choppy price action zones, fair value gaps, and so on. This can help with your decision making when taking a trade for more confluence. Such as seeing a Buy signal activate the same moment price action is breaking through and above a range detected zone, or a Buy signal where price is bouncing off and above a demand zone. The same can go for finding times to exit a trade. If price is at a Take Profit level and then follows to create a range zone and breaks under that range, it may be a good idea to take full profit on that trade. These visual tools can be enabled and disabled in the settings panel.

Options Trading Mode

Another addition to the V1.3 is the new Options Trading Mode. By enabling this feature in the settings, this will help guide options traders with valuable info for options trade. Once enabled, you'll get info such as whether buy calls or puts, what strike price to aim for, the likelihood of price reaching the strike, and the average amount of bars it has taken for price to reach similar strike targets in the past. By knowing the average amount of bars, you can calculate the average amount of time to strike target. If you're trading on the 5 minute time frame and the average amount of bars to strike is 20 bars - then you'd simply do 5(timeframe)x20(bars) - which means strike target has usually been met in 100 minutes or roughly 1 hour and 45 minutes.

Smart AI Take Profit and Stop Loss Zones

The V1.3 utilizes the same take profit and stop loss system with a few adjustments. Once a buy or sell signal is activated, the system will then plot likely take profit zones as well as a stop loss zone for your trade. The sensitivity for these zones can be tweaked in the settings so you can customize them to your exact style of trading and RRR - such as scalp trading or swing trading.

Creating Alerts for the V1.3

Creating alerts for the V1.3 on TradingView is a very simple process. Simply hover over the indicator name (AlgoPro V1.3) 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.

Last updated