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Algo V11.1

Buy and Sell Signals

These settings act as final confirmations for entering or exiting trades, activated at the close of a trading candle. You're advised not to buy during a sell signal and vice versa.
Missed trades aren't cause for concern; patience is key in trading. Your objective is to identify the best opportunities, keeping in mind that profitable trading often involves waiting for the right moment rather than forcing new trades.

MTF Support / Resistance

Identify key support & resistance levels on your chart from the timeframes of your choosing.

MTF Auto Golden Pocket

The Auto Golden Pocket is a fan-favorite feature on the algo. The Auto Golden Pocket automatically draws the 0.618 and 0.65 Fib levels (otherwise known as “Golden Pocket”) on your chart automatically, and with a multi-timeframe feature.
Price tends to heavily respect these levels, especially when used in confluence with the EzAlgo S/R levels. When a GP is formed, you will see a dashed line across your chart, showing the swing points the Fib levels are being drawn from.

Trend Settings

Trend Lines

Trend Lines are graphical representations on a price chart that connect a series of high or low points. They help traders identify the prevailing trend direction (upwards, downwards, or sideways) and potentially forecast future price movements.
Using trend lines in confluence with other indicators can increase the reliability of your trading signals, below are a few examples:
  1. 1.
    Moving Averages: Use a moving average along with a trend line. If both point in the same direction, it’s a stronger signal.
  2. 2.
    Support/Resistance Levels: If a trend line coincides with known support or resistance levels, the signal is considered more reliable.
  3. 3.
    Fibonacci Levels: When a trend line intersects with a significant Fibonacci retracement level, it could indicate a strong area of support or resistance.
  4. 4.
    Candlestick Patterns: Patterns like Doji, Hammer, or Engulfing can add extra confirmation when they appear near trend lines.
  5. 5.
    Volume: High trading volumes during a breakout or breakdown can provide additional confirmation.
  6. 6.
    Oscillators: Indicators like the RSI or Stochastic can help confirm if an asset is overbought or oversold relative to the trend line.

Exponential Moving Averages (EMAs)

Similar to the Trend Cloud, these are the standard moving averages, which can be toggled between EMA/SMA. The lengths can be customized in the Inputs tab, but the default 3 lengths are recommended. Watch for crossovers of these EMAs, and retests of the 144 EMA.

Reversal Bands

The Reversal Bands act as Bollinger Bands, except are based on Fibonacci values. When price reaches these outer bands, look for reversals on a lower timeframe.
These work extremely well in ranging markets, as well as good take profits in trending markets.
It is recommended to use the default length of 30 for best results.

Trend Dashboard

The Trend Dashboard acts as a “top-down” analysis, allowing you to identify higher timeframe trends on the chart of your choosing, giving you a daily bias.
Bias is calculated based off of Heiken Ashi candle structure. When a candle is bullish or bearish Heiken Ashi, the strength will flash one rocket signal.
When a candle is a flat-back Heiken Ashi candle, indicating a strong trend, the strength will flash two rocket signals.