OPEN-SOURCE SCRIPT
5m Enter Alerts

These alerts work really well to help you find good entries on the 5m chart:
"1 Enter LONG":
This one I use more often than any other alert. It's really great if the stock looks good but is currently overextended on the 5m, or looks like it's starting to pull back. It's triggered right after the stock pulled back to the VWAP or 15m EMA 8 and is about to continue.
All these criteria need to be met for the alert to be triggered on a VWAP pullback:
For the 15m EMA 8 pullback it's the same, except for that the 15m EMA 8 also still needs to be above VWAP (otherwise you wouldn't want to enter yet anyways).
"2 Enter SHORT":
Similar, but for shorts...
"3 High Volume Candle":
Detects High Volume Candles on the 5m chart. Can be helpful to get informed that a resistance / support finally broke on high volume, or to be notified about a potential reversal. Can therefore also be useful if applied on SPY.
Criteria:
"X Candle Close":
This one I use quite often as well: it's really helpful to wait for a 5m candle to be confirmed, to see f. e. whether a candle really broke a support / resistance or not - and to prevent making bad decisions.
Criteria:
More infos: https://www.reddit.com/r/RealDayTrading/comments/1fcux2c/from_38_to_81_after_18_months_34_alerts/
"1 Enter LONG":
This one I use more often than any other alert. It's really great if the stock looks good but is currently overextended on the 5m, or looks like it's starting to pull back. It's triggered right after the stock pulled back to the VWAP or 15m EMA 8 and is about to continue.
All these criteria need to be met for the alert to be triggered on a VWAP pullback:
- Crossed up VWAP or VWAP + half ATR recently (so it's also triggered even if it doesn't cross below VWAP on a pullback)
- Above 5m EMA 8 (since this indicates it will likely continue higher up)
- Closed above highest High of last 3 candles (to prevent premature alerts while the price started pulling back into the range of VWAP + half ATR)
- Candle is confirmed (5m ended)
For the 15m EMA 8 pullback it's the same, except for that the 15m EMA 8 also still needs to be above VWAP (otherwise you wouldn't want to enter yet anyways).
"2 Enter SHORT":
Similar, but for shorts...
"3 High Volume Candle":
Detects High Volume Candles on the 5m chart. Can be helpful to get informed that a resistance / support finally broke on high volume, or to be notified about a potential reversal. Can therefore also be useful if applied on SPY.
Criteria:
- Candle's volume > 1.2 * avg volume (of last 30 candles)
"X Candle Close":
This one I use quite often as well: it's really helpful to wait for a 5m candle to be confirmed, to see f. e. whether a candle really broke a support / resistance or not - and to prevent making bad decisions.
Criteria:
- 5m candle closed
More infos: https://www.reddit.com/r/RealDayTrading/comments/1fcux2c/from_38_to_81_after_18_months_34_alerts/
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As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.
Script de código aberto
No verdadeiro espirito do TradingView, o autor desse script o publicou como código aberto, para que os traders possam entendê-lo e verificá-lo. Parabéns ao autor Você pode usá-lo gratuitamente, mas a reutilização desse código em publicações e regida pelas Regras da Casa.
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.