Introduction of Alerts
Timing plays a crucial role in the stock market e.g. entering at right time, booking profit at right time, exiting losing trade at right time, etc. Missing an important trade by minutes or seconds could cost you a considerable profit or result in a big loss on your Trades. Instead of using a scanner, you need to do research regularly and need to find some important levels to catch the stock at fresh breakout and breakdown and these levels must be treated as Alert levels. Once, the price break the resistance or support we will have an alert on our system.
A stock alert is a notification that some aspect of stock has passed a specific threshold that you have set. For example, you can set your alert to notify you as soon as the stock has increased or decreased in value by more than one percent or the trading volume has increased or decreased by more than 5 percent. Getting notified of an alert can be anything from a popup on your desktop to a text message on your phone, or even email notifications. Electronic notifications allow you to respond as quickly as possible because fractions of a second in response time can make a big difference when it comes to stocks.
Setting up the right stock alerts, on stocks that you own, helps to make you aware of important market activities that you might not have otherwise noticed. You may be able to use the alert to prevent a significant loss if stocks you own drop in value. Likewise, you may decide to sell and take your profits if you notice an increase in the stock’s valuation and an increase in trading volume. The stock alert allows you to react quickly to buy, sell or trade stocks in your portfolio.
When you’re a regular trader in the stock market, you need up-to-date information on all the stocks you own. To get the alerts you need, decide on what threshold you want for each alert. You may even decide to set up different levels for each stock. You may even want to have multiple alert types for a single stock. Be sure to keep your alerts up to date as you make changes to your Trades.
Setting up an alert system for your stocks helps you to find stocks for fresh breakouts and breakdowns in rapid changes that take place during the opening hours of the market.
How To Set TradingView Alerts
If you’re new to TradingView you are unsure of how to properly set server-side alerts and alert conditions on the TradingView platform, then this post is for you!
Server-side alerts are alerts that are monitored by TradingView’s servers, meaning you do not need to leave your computer running with the charting platform open in order for them to trigger.
In this post, I will sum up exactly how to create all types of script alerts on the TradingView platform including price alerts, drawing tool alerts, and indicator alerts.
TradingView Alert Types
TradingView has several different types of alert actions, all of which can be enabled or disabled as you wish (depending on your membership plan).
Notify on App only works if you first download the (free) TradingView app (Android or iOS). If you have the app installed and a trading alert is triggered then you will receive a push notification straight to your mobile device.
Show Popup will display a window popup inside your TradingView chart window when an alert is triggered. The popup will display on every chart you have open.
Send Email sends you an email whenever an alert is triggered. You can specify the message that is sent so that you know which indicator triggered the email alert.
Play Sound plays an audio alert whenever a signal is triggered. You can select from 8 different sounds and you can choose how long the sound plays for. This is a fantastic tool for day-traders and I use it every day.
Send Email-to-SMS will send you a text message to your phone. In order to use this feature, you must have a phone data carrier that allows email-to-SMS functionality.
How To Set TradingView Alerts
You can set alerts in a multitude of ways. The easiest way is to just click on the Alert menu and then click the Plus button. Then you can choose what to set an alert for and the conditions that trigger it.
The alert options are fairly straightforward to understand, but I’ll break them down below.
Alert Options & Conditions
Conditions
This section sets the conditions which must be met in order for the alert to trigger. You can click on the first box to select the script that you want to generate your trading signal.
In the second box, you can choose which variable you want to monitor.
The third box is used to set the condition that the second box’s variable must meet in order to trigger the alert.
Note that if the script you are using generates its own alerts based on internal conditions that the script looks for then you do not need to touch the second or third box.
Simply select the script you want to use for alerts and the script will decide when to send out the alerts. These particular options are more for using basic alerts on drawing tools which I will demonstrate below. For most script-based alerts you will only need to touch the first box to select the script.
Options
These four buttons let you choose when the alert is triggered (on a candle and time basis).
If you set it to Only Once then the alert will trigger a single time without repeating, and it will trigger during the current candle without waiting for it to close.
If you set it to Once Per Bar then it will trigger once per bar (before the candle closes), and it will repeat on any new bars.
If you set it to Once Per Bar Close it will only trigger when the candle closes. This is the most common setting that you will use for trading signals if you are a systematic trader, and it will repeat on any new bars if the alert conditions are met.
Once Per Minute will trigger the alert on any current candle multiple times, but only once per every minute. This is great for detecting potential setups before the candle closes so that you can be prepared in advance. I often use this for assistance with trading my intraday strategies, so that I spend less time staring at charts during the day.
Expiration Time
This section lets you set the expiration time of the alert.
How long you can have the alert active depends on your membership plan. On a Free account, you are limited to only 1 alert per account and the maximum alert expiration is 2 months.
On a Pro account, you can set multiple alerts (up to 20 on Pro and 100 on Pro+), also with a maximum expiration of 2 months.
On the Premium account, you can set up to 200 alerts and gain access to the open-ended setting which will leave the alert active forever until you manually disable it.
You can set any date within your maximum time period and any time of day. Expiry times are useful for tracking day-trading setups with a limited time window, but most of the time you will want to set the alert for the maximum time possible – until your setup is invalidated or you have already acted on it.
Setting Price Alerts
The Quickest way to add an alert in Stock with the ALT+A shortcut key this will provide the alert box with a setting and we can add an alert for above and below in the price.
Alert Allow you to put alert in varios conditions, Crossing Up, Crossing Down, Greater Than, Less than, Entering Channel, Exiting Channel, Inside Channel, Outside Channel, Moving Up, Moving Down, Moving Up %, & Moving Down.
Setting Alerts on Drawing Tools
This feature is particularly useful for pattern traders.
You can set alerts based on your technical analysis drawings. This is great for rectangles, triangles, flags, wedges, trend lines, and channel breakout signals. You can set alerts on any type of drawing tool you wish.
For example here is how you would set an alert that triggers when the candle closes beyond a trend line (signaling a breakout setup):
How To Set Zerodha Kite Alerts
Kite Alerts
With Kite alerts, you can create real-time alerts based on various parameters. You can create simple alerts as well as alerts based on if this then that like conditions.
Here are the data points based on which you can set the alerts:
- OHLC – Open, High, Low, and Close.
- Percentage – Day change, Intraday change.
- Price – Last traded price and Average Traded price.
- Quantity – Total buy and sell quantity.
- Open Interest (OI) – OI Day high and low.
- Volume Traded.
- Last traded quantity
You can use the following mathematical operators to set up your alerts :
- Greater than (>).
- Greater than or equal to (>=).
- Less than (<).
- Less than or equal to (<=).
- Equal to (=).
How to Set Kite Alerts-
A. Kite Web
- Click on the ‘more’ context menu on a scrip.
- Select ‘Create Alert’
- Enter a name of your choice
- Select the Property as per the requirement
- Enter the value
- Create.
You can also create alerts from the ‘Alerts’ page.
- Click on the Orders.
- Select Alerts.
- Create new alerts.
Combine Scripts Alert
You can also create alerts by combining two scrips. For example, you can create an alert if Nifty futures is trading below the Nifty spot Index. This means that Nifty futures are trading at a discount to spot and that there are signs of bearishness.
B. Kite Mobile
- Click on the scrip
- Scroll down and click on ‘Create alert’
- Enter a name of your choice
- Select the Property.
- Enter the value
- Slide ‘Create’.
B. Kite Mobile
- Click on the scrip
- Scroll down and click on ‘Set an alert’
- Enter a name of your choice
- Select the Property.
- Enter the value
- Click Create.
Kite Notification
Whenever an alert is triggered, you’ll see a notification on Kite Web. You’ll also get a notification on Kite Mobile and an email as well.
Kite Web Notification
Mail Notification
Mobile Notification
Note:
- Kite alerts are free, there are no additional charges.
- You can have a maximum of 200 alerts. This includes disabled alerts. To add more alerts after your first 200, you’ll have to delete some of your existing alerts.
- The basic alerts that were created earlier on Sentinel can be seen now on Kite.
- The advanced alerts feature has been deprecated for now. We shall look into the possibilities to add it in future updates.
- All disabled alerts that have not been edited for more than 3 months will be automatically deleted.
Source of Article– What are Kite alerts and how do I use them? (zerodha.com)
