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Video lesson

Trading Alerts 2x

Double the TradingView Alerts

In the world of financial trading, alerts can be indispensable for staying on top of market movements without constantly monitoring every tick. TradingView, a popular platform for traders, has just doubled the alerts available to its users, categorizing them into price alerts and technical alerts. This lesson will explore the significance of these alerts in traditional finance while also drawing parallels with the evolving landscape of cryptocurrencies and blockchain technology. Understanding and utilizing these alerts can dramatically enhance your trading strategy, ultimately bringing you closer to your financial goals.

Core Concepts

Price Alerts
Definition: Price alerts notify you when a security reaches a specified price level.
In trading, they are fundamental for executing trades at specific price points. In the crypto world, similar functions apply, allowing traders to capitalize on high volatility in digital assets.
Technical Alerts
Definition: Technical alerts are based on indicators or chart patterns, signaling potential entry or exit points.
While traditional finance uses technical analysis extensively, the crypto realm takes it further with innovative indicators unique to blockchain networks and tokenomics.
Trading Strategies
Definition: This refers to the planned methods used to achieve trading objectives.
In both areas, strategies often involve a combination of alerts—price alerts for entry points and technical alerts for trend confirmations.
Webhooks
Definition: Webhooks are automated messages sent from applications when specific events occur.
In crypto, they facilitate real-time data sharing between platforms, critical for trading bots that need immediate market responses.
Indicators
Definition: These are statistical calculations used to analyze market data and identify trends.
In both trading environments, indicators can help forecast price movements, with some crypto-specific indicators even considering network activity.

Understanding these concepts is vital for newcomers, as they lay the groundwork for effective trading strategies both in traditional finance and cryptocurrencies.

Key Steps

A. Doubling Alerts: The New TradingView Offering

Overview: TradingView has effectively doubled its alert capacity.
Key Points:
- Three plans exist: Free, Pro, and Premium.
- Alerts are split into two categories: price alerts and technical alerts.
- The higher the tier, the more alerts available.

Detailed Explanation:
TradingView’s decision to double the alert capacity is a strategic enhancement aimed at giving traders more control and flexibility. If you are on the free plan, you can set one price and one technical alert. Pro users get a whopping 40 alerts split evenly between price and technical, while premium members can create up to 800 alerts. Such diversification allows you to adapt your trading style and strategy more effectively.

B. Creating and Using Price Alerts

Overview: Price alerts keep you abreast of market movements without needing constant supervision.
Key Points:
- Set alerts directly on annotations (e.g., specific price levels).
- Receive notifications via various methods.
- Example: An alert set for NVIDIA at $280.

Detailed Explanation:
Consider the practicalities of setting a price alert. You identify levels on a chart—say, $280 for NVIDIA—where you want to enter before the price moves past your threshold. This strategy replicates an age-old practice in trading that parallels crypto trading well. Similar to trading stocks, cryptocurrencies like Bitcoin or Ethereum can have price alerts established to notify you of critical movements.

C. Understanding Technical Alerts

Overview: Technical alerts hinge on indicators for market analysis.
Key Points:
- Strategies utilize moving averages or other metrics.
- Track significant market indicators, like moving below specific averages.
- Example: Creating an alert for a 50-day moving average.

Detailed Explanation:
Technical alerts allow for a more nuanced approach to trading. By linking alerts to technical indicators like moving averages, you can base your trades on robust analytical methods rather than mere price checkpoints. This method aligns perfectly with how cryptocurrency trading functions, where technical charts can provide insight into market shifts based on community sentiment, code updates, and more. Consider the relative volatility of crypto assets; technical alerts can be essential tools for navigating these twists and turns.

D. Customizing Alerts

Overview: Tailoring alerts to meet individual trading needs maximizes effectiveness.
Key Points:
- Combine multiple alert types for nuanced strategies.
- Use trend lines and other indicators for intricate market analysis.
- Track alerts using mobile apps for real-time updates.

Detailed Explanation:
Customization is at the heart of successful trading. TradingView allows you to mix and match alert types to create a tailored experience for trading strategies. You can set alerts based on price crossing a moving average or when a stock meets certain technical requirements. In the crypto space, this flexibility equips you to respond to rapid market changes with agility, ensuring you remain competitive.

A Blockchain Perspective

Crypto Connection for Each Section

Doubling Alerts: Similar to how cryptocurrencies often evolve in features, like Ethereum scaling solutions—trading platforms must adapt too.
Price Alerts: Just as traders leverage price alerts to act swiftly on crypto investments, digital asset markets benefit from instant notifications due to their volatility.
Technical Alerts: Utilizing moving averages on crypto charts yields invaluable insights, much like traditional finance strategies but with a focus on network activity for crypto.
Customizing Alerts: Tailored alerts can foster innovative trading strategies in crypto, helping navigate its complexities.

Examples

Charts demonstrating price movements are typical here. Imagine a chart of Bitcoin where you try to track significant rises and falls over the last three months. Envision how adding technical indicators changes perceptions of price movements or allows you to react for short-term futures—much like in traditional stocks.

Hypothetical Examples:

You set a price alert for Ethereum at $2,500—similar to how you would for a large-cap stock.
Spotting a bullish pattern on a stock chart could prompt a technical alert that mirrors alerts on crypto tokens exhibiting similar behaviors.

Real-World Applications

Trading alerts impact trading decisions both traditionally and within the crypto space. Historically, traders have used alerts to capitalize on market momentum, be it in stock or crypto. Notably, notable surges in Bitcoin and Ethereum correlate with significant price alerts triggered by trader activity and market conditions that mirror traditional investing urgency.

Cause and Effect Relationships

Alerts inherently create a chain reaction. For instance, a price alert triggering can lead to market orders placed just as an upward trend takes hold. This dynamic persists in crypto, where a price alert can activate purchasing robots, sending the asset racing higher.

Challenges and Solutions

A common challenge traders face is alert fatigue. With alerts now doubled in quantity, the potential exists for mixed signals. This phenomenon is prevalent in both markets, where excessive notifications might lead to confusion. Solutions in crypto include setting specified parameters on alerts to filter out noise, much like how seasoned investors selectively engage with stock alerts.

Key Takeaways

Maximize the Alert Capacity: Leverage every alert available—it’s like having a second set of eyes.
Utilize Price Alerts: They’re crucial for timing right—similar across both fields.
Adopt Technical Alerts: They enhance your analytical edge for better decision-making.
Customize Strategically: Tailoring alerts addresses your unique strategy—each trader is different.
Stay Ahead with Instant Notifications: Effectiveness in real-time responsiveness creates a competitive edge.
Get Support from Community: Benefit from resources available online to sharpen your skills.
Adapt to Market Changes Quickly: Alerts allow you to respond fluidly to market volatility—critical in both trading worlds.

Discussion Questions and Scenarios

In what ways might over-reliance on price alerts lead traders astray?
How do you think alerts can shape trading strategies in a bull versus bear market?
Compare the significance of technical alerts in traditional finance versus crypto. How do they influence decision-making?
How might alerts provide an edge in volatile asset markets compared to more stable ones?
In a hypothetical trading scenario, if an alert goes off during significant media coverage of a currency, how should you respond?

Glossary

Price Alerts: Notifications based on specific prices for trading assets.
Technical Alerts: Signals triggered by technical indicators.
Trading Strategy: Planned methods for trading.
Webhook: Automated messages sent from applications.
Indicators: Statistical tools for market analysis.

As you delve deeper into trading, remember that each alert doubles your potential to seize opportunities. With this groundwork laid, it’s time to continue exploring the world of cryptocurrencies and join me in the next lesson of the Crypto Is FIRE (CFIRE) training program!

Continue to Next Lesson

Your journey through the exciting world of cryptocurrencies is just beginning. Let’s continue expanding your trading prowess!

Read Video Transcript

Get Double The TradingView Alerts: Tutorial

https://www.youtube.com/watch?v=X9B3c8fhoTw

Transcript:

We have wonderful news for everyone who loves TradingView alerts, and that news is that we have effectively doubled the number of alerts available to you as a TradingView member. So if you have a TradingView plan, you now have double the alerts as before, depending on the type of alerts you make, because we’ve split up alerts into two separate categories, price alerts and technical alerts.

So for example, if you are on the free basic plan, so you are just a free trading user, you now have two alerts, one technical and one price alert. If you’re on the pro plan, you have 40 alerts, 20 technical and 20 price.

If you are on the pro plan you have 40 alerts 20 technical and 20 price if you are on the pro plus plan you have 200 alerts 100 technical alerts and 100 price alerts and if you are on the highest tier plan the most powerful plan if you have a premium trading view of plan, you now have 800 alerts, including 400 technical alerts and 400 price alerts.

So depending on the plan you have, you have alerts to fit your strategy or style. Whether you are an investor or trader, you have alerts that you can create specific to the goals you have for markets. Now we want to show you some examples so that you can see what the real difference is between a price alert and a technical alert.

The key is as a TradingView member you want to take advantage of these two types of alerts. Remember there’s a price alert and that is totally different and counted differently than a technical alert so two types of alerts double the alerts depending on the type of alert you use we are now going to open up our alerts window we just click the alerts icon and here we are you may notice at the top of the alerts window there are two icons that you have potentially never seen before pay close attention to these icons this is where you can count the number of alerts you’ve used

depending on the type of alert so first of all you’ll see we use we have used 54 price alerts of the 400 available to us. And we’ve used only six technical alerts of the 400 available to us. Keep in mind, we are logged in as the official TradingView account where we have premium. So we have 800 total alerts to use, 400 price alerts and 400 technical alerts.

If you look down, you can see all of the alerts that we’ve created or the alerts that have fired off. There is our alerts log at the bottom as well. And currently we are sorting our alerts by the ones that have triggered most recently. You may notice we are using webhooks to send alerts to our official Discord server, which we can talk about later, but you can create alerts for all different types of needs and purposes, whether you’re creating a price alert about an all-time high or using webhooks to power your app or service or server.

or server now before we get too far off here you know off topic let’s get back to the difference between price alerts and technical alerts so we have 54 price alerts currently being used and we’re gonna bring this up to 55 with a real example right now we click year-to-date and we notice that the year to date high on this NVIDIA chart, NVIDIA, we are looking at a chart of NVIDIA, is about $280 per share.

So we hover our mouse over $280 per share and we right click and then we click add alert and now we are going to make a price alert. Why is this a price alert? This is a price alert because it is only about price it is not using an indicator a strategy or a drawing tool this is just the price of an asset in this case in video crossing above 280 dollars per share so this is a price alert, NVDA crosses up 280.

So this is the name of the alert, price alert. And then the exact message we’ll get, so when the message fires off and we wanna get a message, let’s just remind ourselves, price alert example, YouTube video. And now let’s click create. And if you pay close attention here, you’ll notice immediately our alert was created based on this orange line and our price alerts have suddenly jumped up to 55.

We just used a price alert, but notice that our technical alerts did not budge because this is not a technical alert. This is a price alert. Let’s create another price alert so we can really make sure that this is crystal clear. 55, we’re going to show you how this goes up to 56, and our technical alerts won’t budge at all. So we notice on the chart that there is a gap here. This is a very interesting gap on the chart of NVIDIA you’ll know or some of you may not know there are schools of traders out there who love to trade gaps or mark down gaps as key levels to watch so what we are going to do is actually right click it says about 210 dollars per share on this gap

so let’s make sure we right click and let’s click add alert and we want to do 210 dollars per share so let’s type in 210 and we want to do crossing down so below 210 keep in mind this is a price alert there are no drawing tools no indicators no strategies it is just very simply if nvidia hits a price we get an alert so let’s do price alert example number two.

So this is the alert name as we’ll see it. And let’s do gap fill exclamation mark. So the message is a gap fill. Now let’s click create. And instantly we see the alert created on our chart and look at our price alerts. They have now gone up to 56 you have just watched us create two price alerts hopefully now you understand what a price alert is and why it’s different from a technical alert it’s as simple as right clicking on the chart typing in a price that you want to wait for set the alert up wait for it to be triggered, and you are now using one of your price alerts.

Okay, we’re going to delete these because we need to now show you a technical alert. This is the best way for you to understand the difference between price alerts and technical alerts. Let’s do an example. We’re going to stay on this chart of NVIDIA. The only difference is we’re going to open the indicators, metrics, and strategies menu.

We are now going to go to technicals and we are going to type in moving average. And now we’re going to select moving average and you’ll see a moving average has been added to the chart ideally you see where we’re going with this we are making a technical alert a moving average is a technical indicator so let’s do a 50-day moving average let’s click ok now we have this wonderful looking moving at moving average here and actually that looks quite interesting to watch let’s go to to date. And we can now right click on this moving average.

And at the very top it says, add alert on MA or moving average. Let’s click that. And now we are going to create an alert on a moving average. But for this example, we want to make sure that we are creating an alert on this moving average when it goes below crossing down. So let’s do crossing down this 50-day moving average.

We only want it to be triggered once. And let’s do alert name NVDA goes below moving average. Okay. And the message, moving average okay and the message let’s just say reminder this is an example of a technical alert exclamation mark now before we create create click create let’s remember we have our price alerts here and our technical alerts here watch our technical alerts go from six to seven. Click create.

Alert has been created, this orange line, and now we’ve used up seven technical alerts. So you’re probably starting to see the difference. This is a technical alert, whereas before we showed you a price alert. Now we want to make sure we don’t stop this tutorial here because there is one more thing that we want to show you and let’s actually do well we’ll keep this set seven for now what we’re going to do is draw a trend line because it’s important to know that you can create charts with trend lines and get alerts based off

those trend lines so let’s click year-to-date and what’s so interesting is if you look at this chart of Nvidia is there seems to be an interesting trend line in play you have the start of the year down here it didn’t quite touch but got fairly close it bounced perfectly here and now you can see the last two candles have been riding the trend line near perfectly.

So why don’t we create an alert that says if Nvidia breaks through this trend line and drops through it let’s be alerted. So we can click the alert here and right click add alert on a trend line let’s do crossing down let’s say that this is a technical technical alert drawing tool and let’s just say crossing down below trend line okay now remember we’re at seven technical alerts. When we click create, watch what happens.

It’s now up to eight. So we’ve shown you how you have double the alerts, and we’ve given you two examples for price alerts and for technical alerts and how you can use them. Remember, you have tons of alerts to use. Don’t let them go to waste. This is how you can always stay informed about markets. Quick note, we deleted that trend line, so the alert was removed.

Going back to alerts, this is how you can stay informed about markets. What’s equally important about alerts is you can create a system that works perfectly for you and your needs. You don’t have to watch the chart every single second. You can actually find a level on that chart, set the alert, get the TradingView mobile app, and you will be alerted on your mobile app, through email, or even right here on your desktop when that price or technical alert is hit.

So it is an effective way to build a strategy or process that gets you your time back. You can mark down that alert, wait for it to trigger, and then get to work. There’s no reason to wait and wait and watch every second. to work there’s no reason to wait and wait and watch every second instead let the alert do the hard work for you and going back to the start of this video and the point of it the best part about all of this is you now have price alerts and you also have technical alerts and they are split into

two different types of alerts and you get to decide how many you want to use of each but just know that they are now doubled from what it previously was because they’ve been split into two separate categories so use these tools wisely get out there and give them a try and remember on your alerts window just click it the click the alerts icon to open it you can track and follow all of your price alerts all of your technical alerts you can sort in a number of different ways based off of the ticker name message date created time triggered and you can very quickly stop alerts you can

restart alerts you can edit them and you can remove. We’ve made a number of videos on our YouTube channel already about alerts. Please go back and watch those. We also have even more information in our Help Center about alerts. So thank you for watching this video. We hope it helps you get started. And remember, you have price alerts and technical alerts.