TradingView has become one of the most popular trading and charting platforms for retail traders. With over 30 million monthly active users, TradingView combines a powerful charting suite with the ability to connect with brokers, execute trades, use trading bots and more. One of the platform’s most popular features is its alerts and automated signals functionality. But are TradingView alerts and signals worth using?
In this comprehensive guide, we’ll cover everything you need to know about TradingView alerts and automated signals, including:
Outline:
Introduction
- Overview of TradingView alerts and signals
- Main benefits of using TradingView alerts and signals
- Potential drawbacks to be aware of
Types of TradingView Alerts
- Price alerts
- Screening alerts
- Strategy alerts
- Technical indicator alerts
- Volume alerts
- Breakout alerts
- Pattern recognition alerts
- Chat room alerts
Creating Effective Alerts
- How to set up different types of alerts
- Tips for creating useful, actionable alerts
- Common mistakes to avoid
- Backtesting and optimizing alerts
TradingView Automated Signals
- What are TradingView Signals?
- Types of automated signals strategies
- How to become a TradingView Signals provider
- Finding and screening Signals to follow
- Risks and drawbacks of using Signals
Using Alerts and Signals Together
- Ways to combine alerts and Signals
- Automating your trading around alerts
- Following Signals based on your alerts
- Potential pitfalls to be aware of
Alert and Signal Options
- Notification options: Browser, email, mobile
- Conditional alerts based on indicators
- Criteria for auto-execution of trades
- Delay settings to avoid false signals
Costs and Subscription Options
- Free vs. paid TradingView plans
- Number of alerts allowed on each plan
- Pros and cons of free vs. paid options
Integrations and Automation
- Using alerts with supported brokers
- Automating strategies with TradingView bots
- Connecting alerts to Telegram, Discord, SMS
- Building a custom trading solution
Success Stories and Tips from Traders
- Real-world examples and trader interviews
- Best practices for setting up effective alerts
- Strategies for filtering out bad Signals
- Mistakes to avoid based on trader experiences
Introduction
TradingView is a powerful online charting platform and social network for traders. It provides free and paid access to high-quality financial charts with a huge range of technical indicators. One of the platform’s most popular features is its built-in alerts and automated signals functionality.
With TradingView alerts, you can set up notifications to alert you when certain market conditions are met. For example, you can create a price breakout alert that notifies you when a stock hits a new 52-week high. TradingView also allows you to browse and follow automated trading signals created by other traders on the platform. These signals alert you to potential trade opportunities based on the signal provider’s strategy.
Using TradingView alerts and signals can provide several potential benefits:
- Find trading opportunities you may have otherwise missed
- Automate your trading strategies with less effort
- Receive insights from other experienced traders
- Customize notifications for your preferred assets and conditions
- Stay updated on the markets around the clock
However, there are some downsides to keep in mind as well:
- Alert and signal quality varies hugely
- Risk of information overload and distraction
- Over-optimization leading to false signals
- Potential costs involved for paid subscriptions
- Increased emotions and bias when trading
In this comprehensive guide, we’ll explore the different types of TradingView alerts and signals, strategies for using them effectively, costs and subscription options, integration and automation possibilities, and tips from experienced traders. Read on to find out whether TradingView alerts and automated signals are worth incorporating into your own trading process.
Types of TradingView Alerts
TradingView allows users to set up a wide variety of different alert types based on prices, indicators, screens, volumes, patterns and more. Here are some of the main types of alerts available on TradingView:
Price Alerts
Price alerts do exactly what they sound like – they alert you when a defined price target is hit for a particular security. For example:
- Breakout price alerts – Trigger when price breaks above or below a specified level
- Price threshold alerts – Notify when price exceeds a defined amount
- Price spike alerts – Alert on sharp short-term price movements
Price alerts are useful for monitoring breakouts, support/resistance levels, and staying updated on price movements.
Screening Alerts
Screening alerts notify you when the results of your predefined screeners meet certain criteria. For example, you could set up an alert for:
- Stocks with upcoming earnings in 5 days
- Crypto prices moving above their 20-day moving average
- S&P 500 stocks hitting a new 4-week high
Screening alerts automate monitoring for your customized watchlists and scans.
Strategy Alerts
Strategy alerts allow you to monitor your custom strategies for trading signals and opportunities. For example:
- RSI reversal strategy giving a new buy signal
- OBV divergence suggesting an impending trend change
- Chart pattern detected on a crypto currency
Strategy alerts are useful for systematizing your trading strategies with less effort.
Technical Indicator Alerts
These alerts notify you when configured technical indicators meet certain conditions. Some examples include:
- RSI below 30 signaling oversold conditions
- MACD crossover alert for momentum changes
- Bollinger band width expansion for volatility increases
Indicator alerts help monitor momentum, overbought/oversold levels, divergences and more.
Volume Alerts
As the name suggest, volume alerts trigger when unusual volume activity occurs, such as:
- Price breaking out on significantly higher than average volume
- Volume spike of 400% higher than the 50-day average
- Sustained increasing volume over 3 consecutive days
Volume alerts can catch big institutions and funds entering positions early.
Breakout Alerts
Breakout alerts notify you when price breaks out of a trading range or chart pattern. For example:
- Breaking out above resistance or below support
- Closing outside of Bollinger bands
- Breaking out of a triangle, wedge or channel pattern
Breakout alerts are useful for momentum and trend traders.
Pattern Recognition Alerts
These alerts identify chart patterns as they form, such as:
- Double top / double bottom pattern detected
- inverse head and shoulders pattern completion
- New cup and handle pattern identified
Automated pattern recognition can supplement traditional technical analysis.
Chat Room Alerts
Many TradingView chat rooms feature alerts posted by moderators and members. These include:
- Trade ideas and opportunities
- Technical analysis and education
- News and fundamentals affecting markets
- Macroeconomic and global events
Chat room alerts provide perspective from entire trading communities.
The wide range of alert options on TradingView provides extensive flexibility – the key is configuring useful alerts tailored to your trading process. Next we’ll look at strategies for creating effective, actionable alerts.
Creating Effective Alerts
TradingView makes it easy to set up different types of alerts via the Alerts panel. Here are some tips for creating alerts that are optimized for your trading:
- Focus the alert on tradable opportunities – Don’t just set up alerts on random price levels. Look for significant support/resistance levels, chart patterns, volume surges, etc.
- Backtest and optimize the alert condition – Fine tune the parameters to avoid false signals. For example, only trigger a RSI alert below 20 rather than 30.
- Consider both long and short signals – Most strategies provide opportunities on both the long and short side.
- Combine different indicators/conditions – This can help filter out bad signals. For example, requiring RSI and price to confirm.
- Set alerts on multiple timeframes – The best signals often align across higher and lower timeframes.
- Limit alerts to your favorite markets – Too many alerts can lead to overload. Focus on your top trading instruments.
- Use clear labels – Name your alerts so they are easy to recognize. For example, “ETH Breakout Setup”.
Some common mistakes to avoid when setting up TradingView alerts:
- Setting too many alerts leading to information overload
- Poorly optimized alerts with many false signals
- Focusing on minor price movements rather than significant levels
- Alerts based on limited historical data or a small sample size
Proper backtesting, optimization and selectivity is key to building an effective alert setup in TradingView that provides high-quality signals without distraction.
TradingView Automated Signals
In addition to creating your own custom alerts, TradingView allows you to browse and follow Signals – trading strategies published to allow other users to automatically mirror trades.
Think of TradingView Signals like an automated trading algorithm – users write their trading strategy which then executes trades automatically. Followers of the Signal can choose to mirror the trades in their own account.
Some examples of common strategies published on TradingView Signals:
- Trend following – Entries and exits based on moving averages, price channels, etc.
- Reversals – Trading counter-trend bounces using indicators like RSI.
- Arbitrage – Profiting from price discrepancies between exchanges.
- Algorithmic – Automated strategies like volatility statistical arbitrage.
- News/Fundamentals – Trades driven by fundamental news or events.
- Sentiment – Positioning based on investor emotion and social sentiment.
To become a Signal provider on TradingView you must apply and undergo review. Approved providers can monetize Signals via a monthly subscription fee, profit share or one time fee.
As a user, you can browse Signals based on rankings, stats, user feedback and more. Filtering by assets, track record, risk metrics and costs allows you to hone in on potential Signals to evaluate.
The main benefit of using TradingView Signals is systematically leveraging other traders’ strategies. However, you must be cautious, as low quality Signals carry substantial risk. Tips for finding quality Signals include:
- Review provider statistics – win rate, risk metrics, duration
- Scrutinize past performance and drawdown
- Ensure lengthy, consistent track record
- Avoid overfit systems and curve fitting
- Check user feedback and recommendations
- Use free Signals initially to test
- Start with small position size for risk management
Thorough vetting and risk control is crucial when deciding which Signals on TradingView are worth following.
Using Alerts and Signals Together
TradingView alerts and Signals can complement each other nicely within a trading strategy. Here are some effective ways to use TradingView alerts and Signals together:
- Filter Signals with alerts – Require your own alert to confirm before taking a Signal.
- Gauge momentum with alerts – Use an alert like RSI or volume to assess if a Signal aligns with momentum.
- Get alerted to new Signals – Set up alerts for when top-ranked Signals make trades.
- Diversify strategies – Follow Signals using strategies different than your alerts.
- Conduct deeper research – Research Signals provider’s strategy when your alert triggers.
- Avoid overcomplication – Stick to 1 or 2 reliable Signals rather than too many.
Some risks of combining alerts and Signals without proper precautions:
- Contradictory signals leading to analysis paralysis or losses
- Over-complexity reducing clarity and increasing reliance on others
Used judiciously, TradingView alerts and Signals can enhance an overall trading approach. But simplicity and risk control remains key.
Alert and Signal Options
TradingView provides extensive configuration options when setting up alerts and Signals. Let’s explore some of the possibilities:
Notification Options
You can choose various ways to receive TradingView alerts:
- Browser Notifications – Popup alerts on the TradingView website
- Email Notifications – Get alert emails to your inbox
- Mobile Notifications – Push alerts directly to your smartphone
- Audio Alerts – Play audio cues for different notifications
Mobile and audio alerts allow reaction even when you aren’t staring at charts.
Conditional Alerts
Conditional alerts only trigger when multiple criteria are met. For example:
- EMA Crossover AND Volume > 1 Million
- RSI < 30 AND Inside Bollinger Bands
- Price Breakout AND Above 20-day High
Conditions prevent alerts firing on weak signals.
Auto Execution
You can enable auto execution to automatically place trades when your alerts trigger. For example:
- Long market order on bullish pattern alert
- Short limit order on breakdown alert
Auto execution systematizes order entry based on your alerts.
Delay Settings
Delays prevent false triggering on short-term fluctuations:
- Only activate after alert condition persists for X minutes
- Disable alert for Y minutes after firing
Delays help filter out fakeouts and whipsaws when configuring alerts.
Proper alert and Signal configuration can optimize their performance and integration into your overall trading system.
Costs and Subscription Options
While TradingView offers free access, you may consider paid plans to unlock more alerts and Signals capabilities. Here’s an overview of the different subscription options:
Free Plan
TradingView’s free plan allows:
- Unlimited charting
- 3 standard alerts
- Following up to 3 Signals
The main limitations are a lack of technical indicators and limited alerts.
Pro Plan ($14.95/month)
The Pro plan provides:
- More indicators and overlays
- Priority support
- 50 alerts
- Follow up to 5 Signals
Pro suits part-time traders lacking the need for unlimited alerts.
Pro+ Plan ($29.95/month)
Pro+ builds on Pro by offering:
- All indicators plus 1 private indicator
- Server-side alerts
- 200 alerts
- Follow up to 10 Signals
Pro+ works for semi-professionals needing robust alerts capabilities.
Premium ($59.95/month)
Premium provides:
- All indicators plus 5 private indicators
- 500 alerts
- Follow unlimited Signals
- Faster data speeds
- API access
Premium is designed for full-time professional traders.
While free may be enough initially, paid plans provide more alerts and access to Signals. The higher tiers make sense once alerts become essential to your process.
Integrations and Automation
TradingView allows connecting your alerts and Signals to other platforms for enhanced automation.
Broker Integrations
You can link TradingView alerts directly to compatible brokers like Oanda and IBKR to trade your alerts automatically. For example:
- Long EURUSD market order on upside breakout alert
- Short Bitcoin limit order when support breaks
Direct broker integrations remove manual order entry when alerts trigger.
Bots and Automation
The TradingView API can connect your alerts to trading bots and custom scripts for automation:
- Start/stop bot when price or indicator alerts hit
- Run Python script to place complex orders off alerts
- Enter orders, manage risk, trail stops all via code
Code-based integrations unlock sophisticated auto-execution based on your alerts.
Notifications with Telegram, Discord, SMS
Third party services like Telegram, Discord and Twilio allow sending TradingView alerts via:
- WhatsApp and SMS text messages
- Discord server notifications
- Telegram messages and bot alerts
These alternatives ensure you see alerts even without the TradingView platform open.
Proper connections can provide the ultimate TradingView alerts and automation solution tailored to your needs.
Success Stories and Tips from Traders
Let’s examine real-world examples and advice from experienced TradingView users on improving results with alerts and Signals:
“I combine volatility expansion alerts with reversal pattern alerts to detect when bounces are likely at swing lows. This really improved my short-term trading in choppy markets.” – Linda R.
“Don’t fall into the trap of setting up alerts on every indicator under the sun. Find 1 or 2 reliable signals with clear logic and optimize those.” – Daniel C.
“I spent time backtesting various RSI levels for divergence alerts. Turns out RSI below 20 rather than 30 for bullish divergences was far more effective for me.” – James S.
“Even the best free TradingView Signals tend to stop working after going viral. I avoid Signals with tons of followers and focus on less known ones.” – Isaac N.
“SMS text alerts are a gamechanger if you aren’t always staring at charts. I can react much quicker to trades with mobile alerts.” – Rayna S.
In summary, key tips shared by experienced traders include:
- Quality over quantity – Select a few optimized, reliable alerts
- Customize for your strategy – Fine tune levels, indicators and timing
- Use conditional triggers – Require multiple factors like volume or patterns
- Avoid overfitting – Keep alert logic general enough for new data
- Vet Signals thoroughly – Don’t rely on popularity or marketing
- Automate trades – Use integrations to execute orders systematically
- Use mobile notifications – SMS and push alerts speed up reaction time
By learning from proven traders, you can better structure your TradingView alerts and Signals process.
Conclusion
TradingView provides extensive alert and automated signal capabilities that can significantly enhance your trading process – if used judiciously. The key is focusing on quality rather than quantity, configuring alerts and signals tailored to your strategy, avoiding over-optimization, and managing risk.
With the proper alert setup, notification mechanisms and integrations in place, TradingView alerts can systematically identify high-probability trade opportunities around the clock. Similarly, Signals can provide valuable trade ideas from experienced providers – once thoroughly vetted.
Used together, TradingView alerts and Signals can form a robust trading environment. But be wary of overcomplicating your process. Find 1 or 2 reliable signals, optimize them, automate the trades, and avoid information overload.
Overall, TradingView alerts and automated signals offer notable benefits, but also have real downsides if used recklessly. With education, prudence and proper personalization, TradingView alerts and Signals can provide a significant boost for many trading strategies.
Frequently Asked Questions
Are TradingView alerts free?
TradingView allows all users to set up free alerts, but free accounts are limited to 3 standard alerts. Paid plans unlock more advanced alerts along with increased number of alerts allowed.
Can you automate trades from TradingView alerts?
Yes, TradingView enables automated trading by connecting your TradingView alerts to supported brokers, third party platforms like MT4, or through API integrations and bots.
What are some common TradingView alert types?
Popular TradingView alert types include price alerts, screening alerts, indicator alerts, strategy alerts, chat room alerts, volume alerts, pattern detection alerts and more.
How are TradingView Signals different from alerts?
TradingView Signals allow you to auto-mirror trades from strategies published by other traders. Alerts simply notify you of market conditions, whereas Signals can automatically execute trades based on providers.
What are pros and cons of TradingView Signals?
Benefits include systematically leveraging other traders’ strategies. Drawbacks include potential lack of transparency, risk of losses, and over-complicating your process. Proper vetting and risk management is essential.
How can you filter out bad TradingView Signals?
Scrutinize past performance for longevity and drawdowns. Avoid overfit systems. Check user reviews. Follow free Signals initially as a test. Start with small position sizes for risk control.
What tools can you use to automate TradingView alerts?
You can enable auto-trading with broker integrations, utilize the TradingView API with trading bots and scripts, or connect your alerts to platforms like Telegram and Discord.
How do you avoid false TradingView alerts?
Optimize alert conditions with backtesting. Use delay and conditional settings. Limit alerts to significant price levels and optimized indicator values. Focus alerts on tradeable opportunities.
What is the best way to combine TradingView alerts and Signals?
Effective combinations include using alerts to gauge momentum for Signals, filtering Signals with your own alerts first, diversifying strategies between alerts and Signals, and avoiding contradictory positions.
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