UT Bot Alerts indicator

UT Bot Alerts indicator

The UT Bot alerts indicator is a typical trend following indicator.

The UT Bot Alerts is based on the price position and its trail stop.

When the price is above its trail stop the indicator is in an uptrend, and therefore the candles are coloured green, signalling the beginning of a trend with a green arrow.

When the price is below its trail stop the indicator is in a downtrend and the candlesticks are coloured red, marking the beginning of the trend with a red arrow.

Accompanying the price is a trail stop line which is based on the difference between the price and x times its ATR. This makes it a suitable indicator for all types of volatility, as it adjusts according to the market.

Indicator configuration:
– Type of closure: heikin ashi or not.
– a: factor that multiplies the ATR. Provides more or less sensitivity to price movements.
– c: ATR periods.

You can also configure the indicator to show or not the arrows and the colour of the candles.

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Risk disclosure:

No information on this site is investment advice or a solicitation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.

ProRealTime ITF files and other attachments : How to import ITF files into ProRealTime platform?

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  1. RTR • 72 days ago #

    Hi Ivan,
    Could you make a Proscreener with this indicator when a buy and a sell signal (green and red arrows) appear? Also, how would you filter the arrows (buy or sell order) when there is no much movement in the market to avoid entering in the market?

    • Iván • 67 days ago #

      Hi, to avoid range markets you could combine this indicator with ADX for example or another one.
      If you want to create a screener you only have to delete all drawing/plotting lines and delete variables not used in the screener.

      //PRC_UT Bot Alerts
      //version = 1
      //15.02.24
      //Iván González @ http://www.prorealcode.com
      //Sharing ProRealTime knowledge
      ///inputs
      a = 1.3 //Key Vaule. ‘This changes the sensitivity’ – Decimal
      c = 10 //ATR period – Integer
      heikin = 1 // boolean. True work as Heikin A
      /////////////////
      xatr = averagetruerange[c](close)
      nLoss = a * xatr

      if heikin then
      src = (open+close+high+low)/4
      else
      src = close
      endif

      if barindex < c then
      xatrTrailingStop = undefined
      pos = 0
      else
      if src > xatrTrailingStop[1] and src[1] > xatrTrailingStop[1] then
      xAtrTrailingStop = max(xatrTrailingStop[1],src-nLoss)
      else
      if src < xatrTrailingStop[1] and src[1] < xatrTrailingStop[1] then
      xAtrTrailingStop = min(xatrTrailingStop[1],src+nLoss)
      else
      if src > xatrTrailingStop[1] then
      xAtrTrailingStop = src-nLoss
      else
      xAtrTrailingStop = src+nLoss
      endif
      endif
      endif

      if src[1] < xatrTrailingStop[1] and src > xAtrTrailingStop[1] then
      pos = 1
      else
      if src[1] > xatrTrailingStop[1] and src < xatrTrailingStop[1] then
      pos = -1
      else
      pos = pos[1]
      endif
      endif
      endif

      ///////Trading conditions
      ema = average[1](src)
      above = ema crosses over xatrTrailingStop
      //below = ema crosses under xatrTrailingStop

      buy1 = src > xatrTrailingStop and above
      //sell1 = src < xatrTrailingStop and below

      screener[buy1]

  2. RTR • 68 days ago #

    It would be great. Thank you!

  3. Doddge • 67 days ago #

    Hola Iván, ¿sería posible crear un screener que indique cuándo las velas coloreadas del indicador “Linear Regression Candles” cruzan por encima de este indicador UT Bot Alerts indicator?

    Muchas gracias

  4. RTR • 64 days ago #

    Ivan thank you for the pro-screener. I a trying to understand how to write the signals from your indicator into code. I am looking at your proscreener and indicator but I don´t get where the “buy” and “sell” signals are triggered or what part of the code is for “buy” and what part is for “sell”. Can you please tell us what the code for “buy” and for “sell” is? I would like to use them.

    • Iván • 63 days ago #

      Hi,
      Lines 62 and 63. These lines define buy and sell conditions.

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