The S/R alert is a function of AbleTrendTS. A previous post described using the S/R Alert to cue us into sweet spot trade setups. You can turn it on/off in the format indicators window:
Under Format Indicator > Select AbleTrendTS
- Ensure that Alerts are turned on
- Under ‘Advanced Settings’ > Check On: ‘S/R Alert On/Off’
- Define the SR Value, custom alert is triggered when prices come within the value
e.g. S/R Alert Value = 3 means that if prices pullback to within 3 points of the dot, an alert is triggered & an X will be drawn on the current bar
Key ideas for using S/R Alert for Sweet Spot:
- Sweet spot means low risk & high reward. We can achieve low risk by only taking trades when we are very close to the dots.
- Close to the dots can mean different S/R Alert Value for different products: e.g. 3 points for NQ, is not the same as 3 points in CL futures. A general rule of thumb is to alerts when $100-$200 per contract
- ES : try using S/R Alert Value = 2
- NQ : try using S/R Alert Value = 3
- CL: try using S/R Alert Value = .0.1
- GC: try using S/R Alert Value = 1.5
- Sweet Spot Alert just points you to which market is setting up right now. Trading rules for guidance chart still apply as normal. Buy or sell on double confirmation, when price is close to the dots & far from the bands
- S/R alert can be used for trading or to alert you to testing key S/R on the guidance time frame
- You can configure an S/R Alert workspace to stay on top of multiple different markets. With more options, you sit back and wait patiently for only the very best opportunities
- Additional alert settings can be found under tools > options
You can adjust the audio alert & duration of the alert window:
