Technical Candle Alerts [SS]

The Technical Candle Alerts [SS] indicator provides a comprehensive alerting system based on multiple technical oscillators, trend-following averages, and price action pivots to help traders identify extreme market conditions and potential reversals.

Usage

The Technical Candle Alerts [SS] tool is designed to notify traders when specific technical thresholds are met. It tracks the Money Flow Index (MFI), Relative Strength Index (RSI), Stochastics, and Z-Score to identify when these oscillators reach local maximum or minimum values within a defined lookback period.

Additionally, the script monitors Exponential Moving Averages (EMA 50 and 200) to signal "Golden Cross" or "Death Cross" events. Traders can use these signals to confirm entries or exits based on whether the price is reaching a exhaustion zone (Max/Min technicals) or entering a new trend phase (EMA crosses). The tool also features pivot point detection, signaling when the price approaches previous structural highs or lows.

Details

The indicator utilizes an "Autotrend" feature that dynamically calculates the lookback length by evaluating correlations across multiple timeframes (from 50 to 500 bars). It selects the timeframe with the strongest trend to set the observation window for determining "max" and "min" technical values. This ensures that signals are relative to the most relevant recent market context.

A signal delay mechanism ("Wait Time") is implemented to filter out noise. This prevents the script from firing repetitive signals on every candle while an oscillator remains at an extreme, allowing for a cleaner chart interface and more meaningful alerts.

Settings

General Settings

• Use Autolength from Trend: When enabled, the script automatically selects the best lookback period based on trend strength.
• Manual Length Input: Defines the lookback window manually if Autolength is disabled.
• Wait Time for Signals: Sets a minimum number of bars between signals to avoid repetitive alerting.

Technical Displays

• Show Pivots / MFI / RSI / Stochastics / Z-Score: Toggle visibility for specific technical signal types.
• Show Combination Signals: Enables alerts when two or more technicals reach extremes simultaneously.
• Show Golden and Death Cross: Toggles visibility for EMA 50/200 crossover signals.

Indicator-Specific Settings

• Pivot Settings: Adjusts the left and right bar requirements for pivot high/low detection.
• RSI/Stochastic/MFI/Z-Score Settings: Allows customization of the source price and length for each underlying technical oscillator.

FAQ

How do I use the "Wait Time" setting?

The "Wait Time" setting controls how many bars must pass before a similar signal can be generated again. If you want to see every instance a technical condition is met, set this value to 0.

What is the advantage of "Autolength"?

Autolength identifies the most significant trend period (e.g., 50, 200, or 500 bars) and uses that window to define what constitutes a "Max" or "Min" value, making the indicator adaptive to changing market volatility.

How can I access Technical Candle Alerts [SS]?

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