This keyword returns the RSI of any period of the selected Instrument. In the above configuration, we are basically checking the net quantity of the strategy whether it is 0 or not. If it is 0, that means no set is active and anyone set can be active.
Bill Williams Profitunity has added a few things in it like profit taking and reversal in case of steep move etc to the original Alligator. Scalping indicators can prove helpful while executing trades. That said; you can learn about these indicators with time and experience with the help of an excellent trading platform and advisory services. To learn about scalping indicators, reach out to us at Angel One. We can also change the field value to quantity and it will return the quantity of the traded instrument. The keyword shared above will find the minimum tick size for all the instruments within the Nifty 50 stocks list as prescribed by the exchange.
PNL is a strategy level keyword, generally kept in universal exit, even if kept in set exit, it will still return the overall profit/loss combining all the sets. This keyword will return a numerical value of the PUT-CALL ratio based on open interest at that instant. This keyword returns the Net Theta of open positions in selected underlying for strategy. In the example share above, the condition on line one checks if the max profit of the strategy is greater than 2500. One can thus select any number at which he wants his TSL to get activated.
How does an Alligator indicator work?
It uses three moving averages, set at five, eight, and 13 periods. The three moving averages comprise the Jaw, Teeth, and Lips of the Alligator. The indicator applies convergence-divergence relationships to build trading signals, with the Jaw making the slowest turns and the Lips making the fastest turns.
To fetch the latest Renko brick, it is suggested to use it with Position . Similarly if I modify the same keyword to look for entries of Buy transactions but the instrument is selected as WRAPUP 3-NYBOT launches digital commerce, eyes on NYMEX PE, it will again return 0. This is because no PE has been currently traded in the strategy. The position detail keyword is one of the most important and versatile keywords of Tradetron.
What is Alligator Indicator
On any series, like close in the above example, you can also plot EMA of RSI, OPEN etc. Init var is very useful when you are using python or condition action based coding in Tradetron. Please note the values entered in Init var are case and space sensitive. You can fetch the Highest High on any series, like close in the above example, you can also plot EMA of RSI, OPEN etc. The above example will check if the previous (-1) 5 minute candle of Nifty 50 was an inverted hammer.
How do you read an alligator indicator?
The alligator is a combination of moving averages or balance lines on the chart. The first balance line is called the Jaw. The second balance line is called the Lips and the third one is called the Teeth. These lines help us to identify when there is no trend in the market. It also helps us in understanding when the trend is forming and in which direction. When these lines are close together it denotes no trend. On the other hand, when these balance lines are far from each other it denotes a strong trend in the market.
The short-term EMAs represent traders, or speculators, who are attempting to capture short-term profits. Divergence with the price indicates an end to the current trend, especially if the MACD is at extreme high or low values. This keyword returns the value of the Volume Price Trend of the selected Instrument. In the example above, we are comparing the LTP with the high of the signal candle to take an entry on the breakout of the same. The Typical Price Indicator function measures the average of the high, low, and closing prices for the day using a simple, single-line plot. The above image shows how to fetch the Total OI for Nifty bank, current month put options.
The above example will return the net quantity of ADANIENT in the strategy. This has two inputs, CE or PE which you can select according to what is needed. This keyword returns the Historical Volatility, the output ranges from 0 to 1.
The symbol keyword will be a default keyword under most keywords. It will be available by default wherever instrument needs to be selected. This keyword will allow the brick size to be maintained as a variable. In order to modify the same, click on ‘Renko- Closed bricks’ and select the number/ series which you need to keep as the brick size. Position detail in a strategy level keyword and not a set level keyword. No matter which set you use it in, it will return the output based on all the sets ie.
What is Alligator indicator in stock market?
The Alligator indicator helps differentiate between trending and resting periods. The indicator consists of three lines, overlaid on a price chart, that represent the jaw, the teeth and the lips of the alligator. It indicates that a trend is in effect and in what direction the trend is moving.
This will exit your position if the price moves against you for more than the selected % or points from the activate at level. The condition builder will automatically fetch if the position is long or https://1investing.in/ short and based on the same trigger your target or stop loss as needed. The above condition is checking if the LTP of Nifty Bank is between the Previous day(-1) middle and lower Keltner Channels.
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Suppose you are trading a list of stocks and want to limit the number of entries by 5 for the day/counter. Suppose you have a 1 set strategy where you are building a long straddle. In the example share above, we are looking for the condition where the LTP of Nifty 50 spot is greater than the high between 915 AM and 930AM. We are also looking for the same to execute only if its 930AM. In this case logically speaking, the number of open positions returned should be 1. However the Tradetron engine will not consider the open positions as 1 and will return 3 as it detects three unique entries.
PNL is a strategy level keyword, generally kept in set exit, to exit all open positions of the underlying instrument while keeping all other positions untouched. This keyword will fetch the maximum profit achieved by the strategy during one run counter of the same. Max profit is a strategy level keyword and will take into account the total realized and unrealized profit of all positions taken.
- This keyword will return the rolling mean of the series selected of the particular instrument.
- Please note that keywords that return DD-MM-YYYY formats can only be used as inputs.
- This keyword will calculate the put call parity and fetch the synthetic futures of the current week based on the same.
- This keyword will return a numerical value of the total open interest of an option type at that instant.
- It will look at the minimum value of the last hundred day candles from the previous candle (-1).
This keyword will fetch the current lot size of an instrument and return an integer number of the same. Lot size can be used in combination with other keywords to make comprehensive formulae to achieve a specific mathematical operation. Its specially useful when using lists and will only work on futures and option instruments.
Upon clicking on the same the +n th expiry dialog box opens where 0 is the current week/ month expiry, 1 is the next week/ month, 2 is the week/ month after that. After a trend has been formed, traders can use the Alligator indicator to remain in their position and take necessary steps thereafter. It must also be noted that the indicator may not present a 100% accurate picture and can give rise to false trading signals. However, when the signals are positive, traders can gain an edge and thus earn desirable profits. Traders must therefore develop adequate skills for interpreting as well as understanding the signals offered by the Alligator indicator. Additionally, they must also combine the results with other trading tools and patterns for better confirmation of any potential changes in the trend.
This is the first level of segregation when you can choose what instrument you need. Tradetron offers NSE, NFO, MCX and CDS for Indian stock markets. We also offer BITBNS for crypto, FX for forex and NASDAQ-eq. One thumb rule to follow here is that, if you need to do anything related to cash market or stock equity, you can select NSE. If you list needs to take entries based on cash segment you can select NSE too.
A pivot point is a technical analysis indicator, or calculations, used to determine the overall trend of the market over different time frames. As shown in the above example, you can find the previous 5 minute close of the current week ATM CE and PE for the weekly option for Nifty 50 and sum it up. This keyword returns the current month as an integer from 1 to 12. January Is Month Number 1, February is 2 and naturally, December is 12. The above condition is checking if the Previous day(-1) MFI value is greater than 80 for Nifty 50 futures.
Once satisfied, the Alligator closes his mouth once again and goes to sleep. Third stage is when three lines close above and below the price, meaning Alligator is awakened and hungry. So the entry point should be placed at the nearest fractal, lying above the Alligator lines. Place the stop-loss behind the level of the nearest opposite fractal, lying below the Alligator lines.
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This is shifted five bars forward and is smoothed over eight periods. The ‘jaw’ of the alligator, which is the blue colored line, is the slowest when compared to the other two. It is basically a 13 period moving average that is shifted ahead by eight bars. He Alligator indicator is a good tool for detecting trend reversals early and assessing trend strength. It works on both long and short timeframes, but you shouldn’t forget that no one indicator can provide 100% accurate signals.
Always keep that in mind and check the signals received on different timeframes and from different indicators. As you probably already know, it can help youdetermine the strength of the prevailing trend. Its strength can be just as important, especially at shorter time intervals. When the distance between the jaw, the teeth, and the lips of the Alligator increases, the trend is becoming stronger. When the lines come in touch with each other, the trend is most certainly dying out. The lips of the alligator, which is green in color, is a 5 period moving average that is shifted three bars ahead.