OPEN-SOURCE SCRIPT
Entry Assistant & News Alert
Updated
Intention Of This Indicator
This indicator Draw / Displays the following
Inputs
Disclaimer
This is a combination indicator of my Entry Assistant and my News Alert indicator, both can be found and used separately.
- This indicator is intended to be used as an assistant in combination with a technical strategy.
- This indicator has several functions intended to assist you at entering positions.
- This indicator is intended to be used with strategies that place Stop Losses above / below candles, and entries at the BOC ( Break Of The Previous Candle , For Longs it is when price goes above the previous candles high, For Shorts it is when price goes below the previous candles low)
- This indicator allows you to enter daily news release times, and it will warn you before and after that news release time ( to help you stay out of trading news )
This indicator Draw / Displays the following
- A line below ( for Longs ) / above ( for Shorts ) the current candle, with an additional pip value for extra space ( this displays where to place your Stop Loss )
- A label displaying the price of the Stop Loss line, to assist in placing the Stop Loss
- A line displaying where the BOC is ( based off of going Long or going Short )
- A box that appears when the BOC has occurred ( entry signal )
- A line displaying where the news release is going to happen ( only according to your time input settings )
- A box that surrounds the news release ( only according to your time input settings )
- A table in the bottom right corner that shows you when there is Active News ( only according to your time input settings )
Inputs
- Inputs to change the aesthetics ( colours etc. )
- Numeric inputs to modify the placement / spacing of the Stop Loss / Entry signal / News
- Toggles to activate or deactivate features
Disclaimer
- This indicator does not guaranteed to work for every instrument ( always test before use! )
- It is not at all intended to be a signal indicator on its own, but rather only to give a signal when used with specific technical strategies that us BOC entries.
- This indicator is not guaranteed to be accurate, or error free.
- This indicator is not signalling winning entries or high probability entries.
- You must manually enter the news time inputs, this indicator does not automatically show you when there is a news release
This is a combination indicator of my Entry Assistant and my News Alert indicator, both can be found and used separately.
Release Notes
Small Fix ( Functionality is the same )- Fixed News 2 and News 3 warning area not hiding when 'Show Area' input is false
Release Notes
Important Fix- Fixed 0s ( zeros ) being rounded off of price, interfering with the 'Three Digits Only' text
Previous Version Output
- Stop Loss Price = 1.23500
- Three Digits Only = 235
This Version Output
- Stop Loss Price = 1.23500
- Three Digits Only = 500
Release Notes
Updated Entry Signal- Entry Signal pulls back when price pulls back ( allowing re-entries and gives a new signal for candles that have already broke the previous candle high or low )
Release Notes
Fixes Update- Fixed Stop not hiding when unchecked
- Fixed rounding error on the Stop price
- Update pip rounding inputs to have a 0.1 step increment
Release Notes
- Added a input option to change the location of the news warning label
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.