In this article, we explain more about creating and using Alert Strategies with the Language Editor. This is one of five articles about strategy types. Click here to access the first one.
Alert Strategies
Alert Strategies (or Alert Rules) have the following function “Alert(Cor: Integer)” in their code.
It’s worth pointing out that Trade Strategies can also be used to create Alert Strategies.
Only in real-time will Alert Strategies issue popups and sounds (according to your settings). During backtest, the points where the alerts would be triggered are displayed on the chart.
Here’s an example of an Alert Strategy that creates alerts where there are indications of overbuying or overselling in a 10-period RSI (IFR):
begin
if(IFR(10) > 70) then
Alert(ClGreen)
else if(IFR(10) < 30) then
Alert(ClRed);
Plot(IFR(10));
end;
When applied to Alerts, these strategies are processed in real-time, or on the closing of each candle, according to the settings defined by the creator of the alert.
Different from the strategies mentioned above, here we need to create new Strategy Alerts on the Tools menu > Alert Manager > New Alert > New Strategy Alert and select:
Instrument, Interval (and Time frame), Strategy, Notification condition, and Alert Sound.
To read about the four other types of strategies, access the links below:
Please find additional information about strategy functions in this article by our partner Nelogica (available in Brazilian Portuguese). The page has a downloadable PDF file with the tool’s functions at the end - Strategies Module.
We also recommend watching the introductory playlist about the module. (Available in Brazilian Portuguese).
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