Ensemble Alerts

The Ensemble Alerts tool enables users to create highly customizable alert conditions and messages by aggregating multiple technical indicators into groups. It provides a flexible framework for building complex alert systems directly from the settings menu without requiring any coding, allowing traders to signal actions only when specific confluence criteria are met.

Usage

To use the indicator, define condition groups in the Markers section of the settings. Each group accepts a comma-separated list of condition numbers (1-35). An alert is triggered if all conditions within at least one group are met simultaneously.

Users can choose from four direction modes:

• Up only: Evaluates only bullish conditions.
• Down only: Evaluates only bearish conditions.
• Up and down: Evaluates both directions independently.
• Alternating: Requires an upward trigger to follow a downward trigger and vice versa, preventing consecutive signals in the same direction.

The indicator visualizes these conditions using color-coded circles in a separate pane and dynamic labels on the price chart. Bullish alerts are marked with "M▲" and bearish alerts with "M▼", followed by the group number.

Details

The script is based on ensemble analysis, which combines multiple weaker models to create a more robust decision-making tool. It utilizes 35 distinct technical conditions categorized into:

• Directional Pairs (1-22): Indicators like RSI, Stochastic, and Moving Averages that have specific bullish/bearish thresholds.
• Non-directional Filters (23-30): Volume and volatility conditions (e.g., Rising Volume, Low Relative Volatility) that act as prerequisites for both directions.
• External Conditions (31-35): Sources from other indicators on the chart. Values > 0 are bullish, values < 0 are bearish, and non-zero values can be used as filters.

The script utilizes the PCalerts library for handling complex compound logic and the TVta library for advanced technical calculations like DEMA, TEMA, and SuperTrend.

Settings

Markers

• Direction: Selects the global filter for signal directions (Up, Down, Both, or Alternating).
• M1-M6: Text boxes for defining condition groups using comma-separated numbers (e.g., "1, 4, 8").
• Highlight background: Toggles background coloring when an ensemble is triggered.
• Show plots in pane: Toggles the visualization of individual condition occurrences.

Indicator Parameters

• Moving Average: Configure the type (SMA, EMA, HMA, etc.) and length used for conditions 13 and 14.
• SuperTrend: Settings for ATR length and factor used for conditions 11 and 12.
• RSI/Stochastic/Awesome Oscillator: Thresholds and lengths for their respective conditions.
• External Conditions: Source inputs to link the ensemble to other indicators on the chart.

FAQ

How do I set up a functional alert with this script?

To set up an alert, open the "Create Alert" dialog, select "Ensemble Alerts" as the condition, and choose the "Any alert() function call" option.

Can I use signals from my own custom indicators?

Yes, use the "External Conditions" section in the settings. You can link up to five external indicator plots using the "Source" inputs and assign them numbers 31-35 in your ensemble groups.

How do I access Ensemble Alerts?

You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.