EliteAlgo Buy & Sell Signals

Features

EliteAlgo is the premium tool to use, built for traders, by traders. As a standalone tool, it is an integral piece of the Technical Analysis traders conduct each and every time they open a position.

This chart here illustrates a combination of signals.

We have 4 types of signals we will encounter.

Buy Signal These signals are reversal signals. They indicate that a likely buillish movement is forecasted. These signals are not moving with general the trend. This is why you should view them as reversal signals.

Smart Buy Signal These smart buy signals indicate that the chart is likely to move in a bullish direction, while the general chart is moving in a bullish trend. These are signals that are moving with the general trend (trading with the trend).

Sell Signal Like the normal buy signals, these signals should be viewed as reversal signals. They indicate that a likely bearish movement is forecasted. These signals are not moving with the general trend. This is why you should view them as reversal signals.

Smart Sell Signals These smart sell signals indicate that the chart is likely to move in a bearish direction, while the general chart is moving in a bearish trend. These are signals that are moving with the general trend (trading with the trend).

Sensitivity This will control the sensitivity of the signals as they paint. It can be looked at as an "aggressiveness meter" or a "confirmation meter". If you want faster signals, you will decrease the sensitivity. This will result in more signals, faster signals, and potentially false signals due to the decreased confirmation.

If you want more confirmation, you can increase the sensitivity. This will result in less signals and slightly slower signals, but better confirmation and less false signals.

It is important to find the sweet spot that works for you, and try not to change it often. You can also use the presets or the suggested sensitivity which EliteAlgo will show you in the dashboard of each chart.

Agility This setting should be left on 120, as it is for more advanced traders.

It is a less sensitive version of the sensitivity and uses a different calculation compared to sensitivity. This may seem redundant, however it has a purpose. Once you find your sweet spot (sensitivity) and you stick to it, we added this Agility feature to help you make the smaller tweaks, and boost the accuracy, without having to switch the sensitivity. This should only be used by advanced traders and only for fine tuning.

Closed Bars This setting should be left on 0, as it is for more advanced traders. This is how it works. Example: We have 5 strong bullish candle. Candle A,B,C,D, & E. The algo paints a buy signal, on candle A. If the closed bar setting is on 0, the buy signal will paint on candle A. If the closed bar setting is set to 1, the buy signal will only paint on candle B. It will wait 1 full closed bar(candle) to paint. If the closed bar setting is set to 2, it will wait till candle C to paint, and so on and so forth.

This is an advanced method of adding confirmation and should only be used by advanced traders. Otherwise, keep it at 0.

The signals will work on 99% of charts on Tradingview. Furthermore, you can use these signals on all timeframes and they work with Japanese candles or Heikin Ashi candles.

The signals will paint in real-time and will never "repaint". Non-repainting indicators are those whose values do not change once a price bar has ended. This means that once a signal paints, it will never move or disappear. "Repainting" indicators are often seen as unreliable. You can comfortably trade with EliteAlgo knowing it won't repaint and let you down.

The EliteAlgo indicator can be used to trade internationally, on markets such as the TSX in Canada, NYSE & NASDAQ in USA, all the way to the NSE in India, and everything else in between or around. If the chart is on Tradingview, EliteAlgo can be used!

Click the timestamped video below to see a visual explanation of the buy & sell signals: