AltAlgo

Hello Traders,
the AltAlgo is here! – our brand new trading multitool. It is an all-in-one backtesting and alert script based on our proprietary strategy and algorithms. Including many useful customizable features.

About one year ago we published our AltTrader Scalp & Swing indicator. We made a backtester for it named AltTrader BackTester Swing&Scalp. This pair of indicator and strategy turned out to be a great success. After one year of constant development and updates, we are proud to present to you our latest AltAlgo – our newest strategy script with the ability to send alerts! No more copying inputs from strategy to indicator to set alerts. Now you will prepare a strategy and create alerts in one script. We also added some new features.

AltAlgo is a great tool that helps you find the best possible entries for your trades. It's not a limited strategy for only some timeframe periods or assets. You can use it on Crypto, Forex, Stocks, Indices, and basically any chart that is available on TradingView. It is suitable for short-term scalping, mid-term and long-term swing trading, both spot and futures.

AltAlgo combines many algorithms to provide the best possible entry for you. It uses ATR, Supertrend, many different moving averages, and our proprietary system of rules and calculations to plot an ideal BUY or SELL signal for you, across all markets.

The main features/settings of the AltAlgo include:

• Specific testing period - you can specify the start and end date to backtest, also the time
  
• Power - the main variable responsible for the AltAlgo sensitivity and the amount of signals
  
• AltFilters - these filters aim to detect the trend and prevent sending signals when the price consolidates
  
• Supertrend - Multi time frame implementation of the famous Supertrend filter to follow the trend direction even more
  
• Only long / only short mode - could be useful for spot trading or to create separate strategies for longs and shorts
  
• COOS (close on opposite signal) - you can choose for the strategy to close open trades when an opposite signal comes in or not
  
• Breakeven - if you want the AltAlgo to move stop loss to BE on chosen take profit level
  
• Trailing stop-loss - it uses the moving target method for trailing from a chosen take profit level
  
• Four levels for taking a profit - separate take profit levels for long and short direction, all calculations can be set in %, pips or ATR
  
• DCA entry - function to improve your entry price and create an entry ZONE in case the price goes in the opposite direction
  
• MultiMA - you can choose one of the 27 moving averages added to filter signals (above MA only BUY, below MA only SELL)
  
• Sessions - we have predefined main trading sessions (America, Europe, Asia) or you can use custom settings based on any day of the week, any hours and time zones
  
• External filter - you can use your own script to filter signals given by the AltAlgo
  
• Miscellaneous - long/short trade background coloring, showing peak profit, etc.
  
• Notice alerts – AltAlgo can send you additional alerts informing you about running trade like take profit or stop loss hits, flips, etc.
  
• External output - you can use the AltAlgo as a signal provider for your other script
  
• Alerts - fully customizable alerts for BUY/SELL signals, supporting entry zone (DCA), automatic ticker renaming (for example BTCUSDTPERP to BTCUSDT), and the option to add top and bottom lines of free text
  

As you can read, the AltAlgo is packed with lots of useful features, which make it irreplaceable in your trading journey. We put all our knowledge and experience to make this tool and we hope it would be useful for you and you make a lot of profits with it.

We also have a kind, amazing and helpful community of AltAlgo users, which help each other every day and share their knowledge and setups in their trading journey.

Strategy properties used:
Initial capital - 10000
Order size - 10%
Commission - 0.04%

Release Notes:

- AltAlgo v6.1 release notes:

• fix of reported bugs: some minor changes in calculations, rounding, label placing, etc.
  
• TPs and SL have separate type selectors (%, ATR, Pips) - you can use i.e ATR for TP and % for SL;
  
• added option to send an alert when SL hits (separate free text msg for long and short);
  
• added support for placeholders in free text fields (Top line free text, Bottom line 1-3, Long/Short SL)
  
• removed external output for other scripts;
  

Release Notes:

AltAlgo v6.2

• added option to filter signals by ADX and DI+/DI-;
  
• added support for tickers with point values other than 1 (i.e. CME_MINI:NQ1!);
  
• external filter now supports value "10" ("1" - only BUY signals allowed, "-1" - only SELL signals allowed, "10" - BUY and SELL signals allowed, other values - no trades permitted);
  

Release Notes:

- changed names of inputs for TPs/SL/% of trade; added option to color candles depending on the opened position

Release Notes:

fix of color candles function

Release Notes:

AltAlgo v6.3

• added the RMA option to MultiMA (now we have 28 moving averages to choose from);
  
• set default settings (TPs/SL/% of trade, MultiMA turned ON and set to SMA 200, % amount in alerts disabled);
  
• some code optimization in the entry price and initial ATR calculations;
  
• changed the function responsible for SuperTrend to save resources;
  

Release Notes:

AltAlgo v6.4

• fix of SuperTrend; added option to wait for one additional candle to confirm SuperTrend change direction;
  

Release Notes:

AltAlgo v6.5

• added option to show Market Structure (HH, LH, LL, HL) - now you can assess the trend at a glance;
  
• added option to show Order Blocks - before taking trade from the signal, you can verify if is it valid according to important market levels created by big market players. You can use them also as potential take-profit or stop-loss levels;
  
• added option to use Order Blocks as a filter - if you auto trade, this option will filter the main algo signals by Order Blocks, using specified safety zones;
  
• removed the Notice Alerts function - to release some TradingView resources for the new functions, we decided to remove this option from AltAlgo;
  

Release Notes:

AltAlgo v6.6

• Increase script loading speed - a big part of the code has been rewritten;
  
• Added option "Send alert on TPs hit" - whenever TP hit algo will alert with a simple message like: "BTCUSDT LONG Take-Profit target 1 ✅" or "BTCUSDT LONG All take-profit targets achieved 😎";
  
• Refreshed script styling (added Entry line, TP/SL lines changed from solid to dotted, changed colors, etc.);
  

Release Notes:

AltAlgo v6.6 - small update

• The order Block filtering function can be used without showing Order Blocks on the chart;
  

Release Notes:

AltAlgo v6.7 - hotfix

• Hotfix for the problem of a showing pop-up window "Something went wrong. Please try again later";
  

Release Notes:

AltAlgo v6.8

• Added VWAP - now you can see VWAP on the chart and use it as a filter for the signals;
  
• Added Volume Bar Analysis - AltAlgo analyzes the volume on each bar and color candles depending on standard deviation levels. It also marks the Churn Bars (high volume, low range);
  
• Added MultiMA second instance - you can filter signals even more with additional moving average;
  
• Removed Miscellaneous section features to free resources for new features;
  

Release Notes:

AltAlgo v6.8

• added new placeholders {{Last_LongSL}} and {{Last_ShortSL}}. They can be used to access previous long/short trade SL levels. Useful mostly in the creation of SL alert messages.
  

Release Notes:

AltAlgo v6.8

• Fix the recently added placeholders {{Last_LongSL}} and {{Last_ShortSL}} - they sometimes showed NaN values.