Ask Dr. Alex AI

The Ask Dr. Alex AI indicator provides interactive chart intelligence by allowing users to query specific market conditions and receive evidence-based visual feedback. This tool functions as a guided market assistant, offering context on support/resistance, trend pressure, and trade planning through a structured diagnostic engine.

Usage

The Usage section describes how the script can be used to interpret market conditions through an interactive menu. Users can select specific questions to filter the visual output, ensuring the chart only displays information relevant to their current inquiry.

• Interactive Diagnostics: Select a question from the menu (e.g., "Is this safe to trade?" or "Am I chasing price?") to highlight relevant chart evidence.
• Deep Scan Mode: Provides a detailed breakdown of trend strength, multi-timeframe (MTF) agreement, and risk factors like fakeout potential.
• Next-Candle Bias Ribbon: A visual ribbon indicates the projected state of the immediate next candle:
  • Green/Red: Bullish/Bearish conviction.
  • Blue/Orange: Bull/Bear Watch (potential transitions).
  • Gray: Neutral state.
• Trade Planning: When a setup is identified, the tool can plot entry ranges, stop losses, and take-profit targets based on a risk/reward model.

Details

The indicator utilizes a multi-factor scoring engine to evaluate market conditions. It compares bullish and bearish pressure across trend, momentum, structure, volatility, and candle behavior.

• Pattern Intelligence: The system detects specific candle behaviors such as dojis at support, engulfing candles, and breakout retests.
• Support/Resistance Logic: Unlike static levels, the indicator monitors how price reacts to zones. The "Support Bounce Watch" mode can override bearish forecasts if a bullish rejection occurs at a major support level.
• 10-Candle Forecast: Projects a forward path based on confidence scores, active sentiment, and structural context.
• Machine-Learning-Inspired Scoring: The logic uses weighted decision trees to adjust interpretations of momentum shifts and pattern quality dynamically.

Settings

Core Logic & Timeframes

• Execution / scanner timeframe: Sets the base timeframe for signal calculations.
• Moving Average Periods (Fast, Slow, Mid, Long): Defines the EMA lengths used for trend detection.
• MTF timeframes required to agree: The number of higher timeframes that must align for a valid signal.

Signal Thresholds

• Minimum confidence score: The threshold (0-100) required to display a standard signal.
• Minimum rank: The quality score required for signal validation.
• Strong signal confidence/rank: Higher thresholds required specifically for "Strong" buy/sell labels.

Support, Resistance & Zones

• Show Buy/Sell support-resistance zones: Toggles the visibility of supply and demand areas.
• Zone thickness ATR: Adjusts the vertical height of zones based on volatility.
• Require Zone Exit: If enabled, signals only trigger after price moves cleanly away from a zone.

Signal Safety & Confirmation

• Enable 30M + closed 5M scout confirmation: A secondary logic gate requiring lower timeframe confirmation for higher timeframe signals.
• One signal per trend: Prevents repetitive labels during a single trending move.
• Dot stop entry expires after bars: Determines how long a trade plan remains valid if the entry price is not reached.

Visuals & Teaching

• Show candle confidence numbers: Displays the raw score above/below each candle for educational analysis.
• Ask Dr. Alex AI compact panel: Toggles the main interactive summary dashboard.

FAQ

How do I interpret the confidence numbers on the candles?
The numbers represent a weighted score of market factors. Higher numbers indicate stronger confluence in that specific direction (Buy or Sell) based on the "Winning Side" setting.

What is the difference between "Early" and "Strong" signals?
Early signals trigger when momentum shifts but before all trend confirmations are met. Strong signals require higher confidence scores, rank, and often a successful retest of a structural level.

How can I access Ask Dr. Alex AI?
You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.