Fortunately, you can compute multiple values in your function and screen few indicators at once.
In this script I show how you can compute 5 indicators at the same time for 40 instruments. I display then in different labels.
Every label consist of list of instruments satisfying current indicator conditions and a value for it. It can be absolute value as for RSI or -1/1 representing Bullish/Bearish event.
Also you can create 1 alert with result of all screeners inside.
In this example I took 5 indicators with following conditions:
- RSI - "RSI < 30" or "RSI > 70"
- TSI - "TSI < -30" or "RSI >30"
- ADX - "ADX > 40"
- MACD - "MACD Bullish Cross" or "MACD Bearish Cross" (1 and -1 in screener)
- AO - "AO Crosses 0 UP" or "AO Crosses 0 DOWN" (1 and -1 in screener)
- - bars_apart - this parameter define how may bars apart you labels are on your chart. If you see labels overlapping, increase this number.
- - Parameters for all used indicators
- - 40 symbol inputs for instruments you want to use in this screener
You can create an alert from it easily by selecting screener name from the list and then selecting "Any alert() function call".
No additional configuration is required, message and alert on close is generated in the code.
You should better change default name for your alert. Sometimes because of big amount of inputs you might receive an error.
Please remember that past performance may not be indicative of future results.
Due to various factors, including changing market conditions, the strategy may no longer perform as good as in historical backtesting.
This post and the script don’t provide any financial advice.
Pine Programming v5: qntly.com/pineprog
Adv.Pine Use-Cases: qntly.com/advpine
Access to Pro Indic.: qntly.com/proind
Hire Me: qntly.com/hirepine
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.