TradingView Configuration
Introduction to Configuration on TradingView
Last updated
Introduction to Configuration on TradingView
Last updated
To ensure a clear and effective understanding of how to configure and use the Tradefi.bot indicator on TradingView, we present a detailed guide on each parameter and its function within the indicator. This setup allows users to customize the indicator to fit their trading strategies and personal preferences.
Show Buy & Sell: This option allows users to activate or deactivate the display of buy and sell signal labels on the chart. This is useful for keeping the interface clean if only monitoring trends without specific trades.
Sensitivity (1-6): Controls the indicator's sensitivity to price movements. A low value generates fewer signals and is preferable for conservative approaches, while a high value may capture more market opportunities but with a higher risk of false signals.
Stop Loss % (0 to Disable): Sets a stop loss percentage for trades suggested by the indicator. Setting it to 0 disables this function, allowing traders to manually set their own risk parameters.
Signals Offset: Adjusts the vertical offset of signal labels on the chart, helping to avoid overlap with other elements and making signal reading easier.
Show Trend Ribbon: Activates or deactivates a visual ribbon indicating the overall market trend, based on moving averages. It is useful for quickly identifying market direction.
Smoothing 1 & Smoothing 2: Configures the smoothing of the lines forming the trend ribbon. Higher values reduce reactivity to market changes, ideal for avoiding noise in volatile markets.
Show Reversals: Allows displaying signals when the market could be near a reversal point, based on overbought or oversold indicators. This is vital for traders seeking to capture trend changes.
Show P.D H/L/C: Displays or hides lines representing the previous day's highest, lowest, and closing prices, providing key reference points for daily trading.
Line Colors, Width Lines, Line Style: These parameters allow customization of the appearance of previous day's price lines, making them easily identifiable on the chart.
Label Text Size & Label Text Colors: Adjusts the size and color of text for labels associated with previous day's lines, enhancing visibility according to user preferences.
Show EMAs: Activates or deactivates the display of three exponential moving averages, providing deeper insight into short and long-term trends.
Source EMA 1, 2, 3 and Length EMA 1, 2, 3: Defines the data source (closing price, opening price, etc.) and the period for each EMA, allowing users to fine-tune how these EMAs respond to price action.
Show Swing Points: Displays or hides markers at significant swing points, which are useful for identifying potential changes in market direction.
Swing Point Period, Positive/Negative Swing Color: These settings allow defining the period for calculating swing points and customizing colors for positive and negative points, respectively.
Show Dashboard: Activates an information panel summarizing the current position, trend, and other relevant real-time data, enhancing quick decision-making.
Table Location, Table Text Color, Table Background Color, Table Size: Customizes the location, text color, background color, and text size of the dashboard to seamlessly integrate into the trader's user interface.
Show Reversal Bands: Activates or deactivates the display of bands indicating potential price reversal areas, based on volatility calculations.
Length: Adjusts the length of the bands to control their sensitivity to price movements.
Each of these configurations allows traders to tailor the indicator to their specific needs and enhance its effectiveness in trading decision-making. By providing control and flexibility, Tradefi.bot becomes an invaluable tool for traders on the TradingView platform.
