Trading AlgoX Tutorial/Guide
January 20, 2024
Trading AlgoX is committed to creating cutting-edge tools designed to empower novice traders with a competitive advantage in the financial markets. The Trading AlgoX indicator, available on TradingView, presents a plethora of distinctive and exclusive features suitable for trading across various markets and timeframes.
Why choose Trading Algo X?
In contrast to other premium indicators, Trading AlgoX provides a superior range of features not found in other indicators. Recognizing that novice traders may have budget constraints for tools and educational resources, we pride ourselves on being the most budget-friendly and widely favored premium indicator in the market.
How to add the AlgoX in Tradingview
If the indicator does not show up after 24 hours please send an email to:
info@trading-algoX.com
with your tradingview username and order ID
First, you want to go to tradingview.com and launch a chart.
Once you have bought the indicator, you will receive an email with the invitation link for the indicator. Click on the link and it automatically loads up in your Tradingview. Now click on the indicators tab --> search for AlgoX --> and click on the "AlgoX" indicator to apply it to your chart.
Now that you have the indicator enabled, lets talk about some of the key features that are included in the system.
Buy & Sell Signals
LadsAlgo produces simple buy and sell signals using a combination of indicators and trading techniques that have been extensively studied. It was designed so that traders may use it as the basis for strategies or as confirmation for trades. According to the type of trader you are, you can also alter the sensitivity of the signals. While day traders should choose a lower sensitivity to trigger fewer trades/scalps, swing traders should use a greater sensitivity for fewer signals (longer lasting transactions).
Automated Support & Resistance
Every ticker or market has its own values for the support and resistance lines. These values are recognized if they have been "touched" repeatedly by the market of interest. When the market "touches," it has either bounced off a specific value, had a difficult time breaking a given value or price, or it has broken and retested this value. We then divide the market into channels using these Support and Resistance lines, often known as "S&R" lines, in order to determine how much the market can move and when is the best time to enter or exit the market. However, physically locating and drawing your S&R lines takes a lot of time. All of that process will be automated for you by the Dynamic Support and Resistance Indicator.
Being adaptable, it will calculate any new lines as the market changes or adjust Support and Resistance Lines as they are broken.
To immediately identify if a line is a support line or a resistance line, we have color-coded it.
Red Resistance Lines are above our candles; they are visible. Once the candles break through the resistance, it becomes a support.
Below our current candles, there are green support lines. When Candles cross over our Support and become above our Candles, the line is regarded as a resistance line.
Trend Base Line
The Baseline is a really unique feature, because you can make insane trades of it alone. The Line is a product of different MAs, EMAs, SMAs and many different Averages. The Base Line changes the color depending on if the price is trading below, above or inside of it. When the price is trading above the line it turns green, when it's trading below it's red and when the price trades inside of it, it's in the color grey. The is very useful because the color of the Baseline gives you Signals to enter a trade. When the color of the line changes is exactly when you should enter a trade, th possibilities are:
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if the Baseline turns green -> you should look to place a Long Position
- if the Baseline turns red -> you should look to place a Short Position
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if the Baseline turns grey -> there is no clear direction of the market and you should wait to open a trade
Built in EMAs
We also implemented different Exponential Moving Averages, so you don't have to add them manually. This is extremely comfortable, especially when you use the free version of Tradingview, because you aren't allowed to use more than 3 indicators at once.
The following EMAs are included:
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EMA 20
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EMA 50
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EMA 100
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EMA 200
