DOCUMENTATION
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- Why we created Best Trading Indicator
- Trading frameworks and their timeframes
- How to install a custom indicator on TradingView
- Why the BTI ALgo Global is a MUST for your trading
- Why a Plug & Play system can save you a lot of time and money
- How to update your indicator to be compatible with our Plug&Play scripts.
- Earn recurring passive income with our affiliates program
Connect any indicator to your Algorithm Builder - Multiple Trends+ (Plug&Play)
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Introduction
This indicator is available only for one-time-payment from our TradingView Marketplace
A few words of caution : the Algorithm Builders - Multiple Trends are more as advanced and as such, would require slightly more time to be mastered. They're not that much problematic but we understand that designing a trading system with 2 trends might be slightly more complicated - however there is nothing to be scared of :).
The Algorithm Builders - Multiple Trends editions are made to detect the convergence of many unrelated indicators and give a BUY or SELL signal whenever all the selected sub-indicators are converging in the same direction.
This is an upgrade of the Algorithm Builder - Single Trend - designed to show 1 unique entry per trend - whereas the Multiple Trends will offer re-entries in the same direction of the trend if the indicator detects functional convergences to accumulate more positions.
We'll detail everything you need to know in that article a little further down.
The Multiple Trends+ is an upgraded version of the Algorithm Builder - Single Trend and includes the exact same features plus a built-in standalone Trade Manager, a Risk/Reward Panel optimized and flexible offering 2 ways of analyzing your trades
Video Tutorial
Our Plug & Play feature and TradingView
Multiple Trends vs Single Trend
A friend asked us recently Why using the Multiple Trends if we can use the Single Trend in a smaller timeframe and get more entries that way?
We thought this was an excellent question but the answer is obvious to us.
Using a Single Trend on a smaller timeframe to solely to get more entries will reduce the security of the given trades. We designed the Algorithm Builders to take a trade-in an identified trend but reducing the timeframe too much will mostly increase your risk - and might lead to capital loss.
By the way, this is a universal rule valid also for a big majority of indicators.
Main signal vs Secondary signals
For the main and secondary trends, the color green will symbolize any identify "BUY" trend. And the color red will symbolize any identified "SELL" trend.
The MAIN trend symbol is unique and symbolized by a triangle.
The SECONDARY (could also be called re-entries) trends are multiple and symbolized by a diamond.
In the Algorithm Builder, they're identified with the Additional keyword.
The user input fields
Access KEY
Here you'll need to insert the access key you received by email (within 2 business days after the date of order) This key has been generated for you according to your subscription package and have a specific expiration date included in it.
If the key inserted is incorrect or expired, the indicator will display an orange label inviting you to subscribe again
Utilities
Display primary or secondary signals
It could be messy to display at the same time the primary and secondary sub-signals. That's why we let you the option to select those you'd like to keep on your chart.
You can chose to display none of them by unchecking both checkboxes.
Algorithmic Supports and Resistances
If you want to select/unselect specific supports/resistances, you'll need to :
1 - Go to the Style tab
2 - Select/Unselect the ones that make sense to YOU according to asset/timeframe on the chart
3 - The Algo S/R buffer (value in units/lots) is used for the Risk/Reward Panel
You might not want your TP zones to be defined exactly on those S/R but to let yourself a little bit of margin.
We thought about this margin buffer
because those S/R aren't always accurate levels - mostly because they're multi-timeframes zones (and otherwise trading would be too easy ^^).
It's up to you to decide how relevant this margin buffer
is and if it could add some benefits to your overall trading strategy.
Profit/Loss and Risk/Reward Panel
The Panel will display (if selected) for the current trade only the PnL (Profit and Loss) and R:R (Risk to Reward) informations. We let you the ability to position the panel whenever you want in the chart - you'll only have to play with the X and Y positions to get it displayed wherever you want
1. Algo SR and PnL Panel
When selected it will calculate automatically for each candle the PnL and risk-to-reward ratio based on the Algorithmic SMAs (Simple Moving Averages).
A few notes :
- On that screenshot just above, the background is red because we're on a SHORT position. Otherwise, it's colored green for a LONG.
Entry Price : the price when the Algorithm Builder will give a signal.
- The Trade PnL in percentage.
- Entry Stop Loss : Distance (in currency/units) between the Supertrend (used as stop-loss) and the entry price.
- Entry Take Profit : Distance (in currency/units) of the nearest algorithmic SMA at the time of entry.
- Risk/Reward (at entry) : Using the Stop-loss/Supertrend distance at entry and Take Profit at entry to compute the risk-to-reward ratio.
- Risk/Reward (next SR) : Gives the risk-to-reward ratio to the next nearest SR. Could be useful if you missed an entry but can still get in the trade if the next SR is far enough to give a decent risk-to-reward ratio
2. Trade Manager and PnL Panel
I'll introduce what this panel shows and then will explain how to combine it with our excellent Trade Manager
- On that screenshot just above, the background is red because we're on a LONG position. Otherwise, it's colored red for a SHORT.
- Entry Long/Short : Display the entry price when a signal is displayed
- Long/Short PnL : The current Profit and Loss of the current trade
- Entry Stop Loss: Stop-Loss value at trade entry.This needs to be updated in the Trade Manager section of the indicator
- Entry Take Profit 1 : First Take Profit value defined by the user in the Trade Manager section of the indicator
- Entry Take Profit 2 : Second Take Profit value defined by the user in the Trade Manager section of the indicator
- Risk/Reward TP1 : Calculated based on the user inputs
- Risk/Reward TP2 : Calculated based on the user inputs
Trade Manager
Stop-Loss Management
For what's following, let's assume that 2 is the stop-loss value you inserted in the indicator and the Algorithm Builder gives a BUY signal. This is NOT a recommendation at all, only an example to explain how this feature works.
- % Trailing : The Stop-Loss starts 2% away from the entry price - and will move up (because we're on a BUY trade as per our example) every time your trade will gain 2% profit
- Percentage : The Stop-Loss stays static 2% away from the entry price. There is no trailing here
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Supertrend : A Stop-loss option based on the famous TradingView Open-Source Supertrend Indicator. The Multiple Trends can use also the supertrend for the entries signal.
Then, you can see how this supertrend looks like that way or alternatively, by adding the supertrend indicator as an extra indicator to your TradingView chart -
TP Trailing : This is a very impressive feature. The stop-loss is set 2% away when the trades start.
When the TP1 is hit, the stop-loss will be moved to the Entry price (also called breakeven).
When the TP2 is hit, the SL is moved to the previous TP1 position - Fixed : Set the Stop-Loss at a fixed position (value should be in currency/units)
Take Profits Management
Labels Lines
Session hour's filter
It's important to note the the hours filter is based on the broker timezone - not on your chart timezone. If your chart sets in UTC+2 but you're displaying the price data from COINBASE:BTC/USD then the real timezone used will be GMT-7
Connect your own external indicator
This is very simple to do and anyone should be able to do it.
For our subscribers, we'll send the detailed process of how to add 2 lines of code at the end of their indicator - so that our Algorithm Builder - Plug&Play may use that external signal.
The quick video below (duration < 1min) shows how A) you can connect a RSI divergence indicator to your Algorithm Builder B) mix it with a Supertrend and C) get all the Utilities updated accordingly
You only made a few clicks and designed a robust system intuitively.
Are we the only ones to think this is beyond the most impressive thing we've ever witnessed in the history of technical analysis?
Indicators
Primary/Main Trend
We recommend playing with selecting indicators one by one to understand how they behave by playing with their input value(s)
Overlay
The Overlay gives a bullish signal if the price closes above the selected Moving Average. Otherwise, the returned signal is bearish
Supertrend
The Supertrend gives a bullish signal if the price closes above the red supertrend for the first time. Otherwise, the returned signal is bearish
MACD or MACD ZERO LAG
You have the option to choose between a standard MACD or its alternative called MACD Zero Lag (known to be more creative/less lagging that the standard version). There is no right or wrong choice here, it all depends on your trading strategy. The MACD or MACD Zero Lag gives a bullish signal if the oscillator goes positive for the first time. Otherwise, the returned signal is bearish
Triple Moving Averages Cross
The Three Moving Averages cross bullish signal whenever the 3 selected moving averages cross for the first time. Otherwise, the returned signal is bearish
The crossing rules are the same as the ones published on our Three MM Cross TradingView script. We engineered those rules after years of analyzing the charts and traded them enough to know it's a powerful indicator to have in your trading toolkit
Price vs Ichimoku Cloud
The Price versus Ichimoku gives a bullish signal whenever the candle closes above the Ichimoku cloud. Otherwise, the returned signal is bearish
Trend Code
The Trend Code is part of our internal formula and we cannot disclose what it is exactly. However, we'll surely share with you how to use it. As a rule of thumbs, the lower the input value is the lesser the number of trend codes is - the higher the input value, then the trend code will be more smoothed and gives fewer sub-signals. (This is the classical behavior of any indicator anyway)
Pullback Value and Pullback Percentage
Pullback Value : the indicator expects a distance from the selected moving average in lots/units (i.e. Pullback Value SMA 20 ,and buffer 3 accepts the pullback whenever all the signals are converging ,and the current price is 3 units/lots away from your SMA 20
Pullback Percentage : the indicator expects a distance from the selected moving average in percentage (i.e. Pullback Percentage SMA 20 ,and buffer 3 accepts the pullback whenever all the signals are converging ,and the current price is 3 percent away from your SMA 20
Secondary/Additional Trend(s)
Is it really needed?
Maximum number of re-entries in a secondary trend
The example on the screenshot should be self-explanatory enough hopefully. We might sound like a broken record
again but better to overcommunicate on that : there isn't a recommended number - all depends on your trading strategy as a whole.
The secondary sub-indicators identifier
They're identified with the keyword Additional but they're the same indicators used for the primary trend.
Those will just be used to display the diamond symbols.
You might have noticed we removed a few for the secondary trend like the (MACD ZERO LAG and ICHIMOKU) - we did so to simplify the tool.
Hard Exit (based on MACD)
Let's assume the simple configuration with a SMA 20/50 cross and a Supertrend (5,5). The signal is bullish signal whenever the 2 selected indicators are converging. Otherwise, the returned signal is bearish
This vertical brown line appears because (in that specific scenario) we're in a BUY but we get a hard exit/invalidation signal based on that MACD. It allows us to exit a losing trade sooner and before it might hit your stop-loss
Alerts
Main trend alerts
The screenshot should be self-explanatory enough
You mandatory need to create 1 alert for the BUY event and 1 alert for the SELL event
The Algorithm Builder allows to capture the alerts on those BUY green triangles and SELL red triangles.
You'll have to create 1 alert per event (buy or sell) per asset (BTC, DOW, APPL, ...) per timeframe (m5, m15, ...).
For instance, if you add your Algorithm Builder to your chart. You have to create 2 alerts. A first one to capture the MAIN BUY event, a second one to capture the MAIN SELL event.
According to your TradingView subscription type, you might receive the alerts by email and by SMS
Secondary trend alerts
It's exactly the same principle here.
On the top of the MAIN alerts - you'll have to create 2 alerts to capture the additional BUY green diamonds and the additional SELL red diamonds.
Same here - the alerts on the diamonds have been enabled by our tool but you should activate and set them up yourself.
Don't worry it's super easy to do :)
You'll have to create 1 alert per event (buy or sell) per asset (BTC, DOW, APPL, ...) per timeframe (m5, m15, ...).
For instance, if you add your Algorithm Builder to your chart. You have to create 2 alerts. A first one to capture the ADDITIONAL BUY event, a second one to capture the ADDITIONAL SELL event.
According to your TradingView subscription type, you might receive the alerts by email and by SMS
Trend Manager alerts
You'll be able to create alerts based on our Trade Manager. It's recommended to wait to be in a trade, and after creating the Trade Manager alerts.
As we could recommend to trigger the BUY/SELL alerts on candle close (for more security/less risk for fakeouts), it's generally a best practice to set the Trade Manager alerts using the
We mean, once the SL/TP1/TP2 are hit, you might not want to wait for the candle closes to act because it could be too late and very often won't be in your favor.
🔔 Dynamic Alerts and TradingView automation 🔔
Here are the list of third-parties capturing TradingView alerts and forwarding them to many CFD/Crypto/Stocks brokers.
The process to connect the Algorithm Builder entries/exits signals to those systems is fairly easy.
You'll find more insight to make your alerts compatible with those systems here.
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