TradingView Alerts: The Power of Variable Values

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In the intricate world of the Indian Stock Market, where every second counts, traders are on the lookout for tools that provide real-time information and actionable insights. TradingView, a widely-utilized charting and analysis platform, takes a giant leap forward by offering users the ability to create alerts with variable values, tailored specifically for the nuances of the Indian Stock Market. This advanced feature empowers traders to receive notifications that are finely tuned to the specific criteria relevant to Indian stocks, adding a layer of precision and efficiency to their trading strategies.

Alerts with Variable Values: A Practical Example

Let’s delve into a practical scenario to illustrate the potency of variable values in TradingView alerts. Imagine you want to set up an alert for NASDAQ:AAPL, focusing on capturing the closing price and volume. In the message box, you can leverage special placeholders to dynamically fetch these values:

				
					{{exchange}}:{{ticker}}, price = {{close}}, volume = {{volume}}

				
			

This seemingly simple message, when used as part of your alert configuration, transforms into a dynamic notification system. When the alert triggers, these placeholders get replaced with the actual values, providing you with up-to-the-minute information on the specified stock.

Understanding the Variety of Placeholders :

01. -{{ticker}} and {{exchange}}:

{{ticker}} represents the stock symbol used in the alert (e.g., INFY, RELIANCE).

{{exchange}} indicates the exchange of the symbol (e.g., NSE, BSE). Note: For delayed symbols, the exchange appends “_DL” or “_DLY” (e.g., “NSE_DL”).

02. -{{close}}, {{open}}, {{high}}, {{low}}, {{time}}, {{volume}}:

These placeholders correspond to the values of the bar on which the alert was triggered.

{{time}} is in Coordinated Universal Time (UTC), formatted as yyyy-MM-ddTHH:mm:ssZ.

Other values are fixed-point numbers with decimal points, adding a layer of numerical precision.

03. -{{timenow}}:

Represents the current fire time of the alert, formatted similarly to {{time}}. It returns the time to the nearest second, regardless of the chart’s resolution.

04. -{{plot_0}}, {{plot_1}}, … {{plot_19}}:

Refers to the output series of an indicator used in the alert. Plots are numbered from zero, allowing for dynamic alerts based on specific indicators.

Particularly useful for alerts on indicators, non-standard charts, and drawings.

05. -{{interval}}:

Returns the interval or timeframe of the chart that the alert is created on.

A noteworthy point: For certain technical reasons, this placeholder might return “1” instead of the actual timeframe in specific cases. This is especially relevant for regular price-based alerts, where the chart’s timeframe might not play a crucial role.

06. -{{syminfo.currency}} and {{syminfo.basecurrency}}:

Offer information about the currency of the current symbol.

{{syminfo.currency}} returns the currency code of the current symbol, offering insights into the denomination of the trading instrument.

{{syminfo.basecurrency}} goes a step further, returning the base currency code of the current symbol if it pertains to a currency pair. In cases where the symbol does not represent a currency pair, it gracefully returns “na.”

Practical Example: Utilizing {{plot_0}} and {{plot_1}} for Indicator Alerts

Consider creating an alert on the average true range (ATR) indicator, a popular choice for volatility. The message box might look like this:

				
					ATR: {{plot_0}}, ATR Moving Average: {{plot_1}}

				
			

In this scenario, you are dynamically extracting the values of the ATR and ATR moving average output series for a more granular and detailed alert, specifically tailored for the Indian Stock Market.

Deeper Dive into {{interval}} and Its Implications in Indian Markets:

Understanding the timeframe of the chart plays a pivotal role in crafting precise alerts, especially in the context of the Indian Stock Market. While for regular price-based alerts, the chart’s timeframe might not be a critical factor, the {{interval}} placeholder can behave differently in alerts created on drawings and indicators. For the latter, it functions as expected, returning the actual timeframe of the chart.

Currency Information for Comprehensive Market Understanding in India:

  • {{syminfo.currency}}: Returns the currency code of the current symbol, offering insights into the denomination of the trading instrument.
  • {{syminfo.basecurrency}}: Takes it a step further by returning the base currency code of the current symbol if it pertains to a currency pair. In cases where the symbol does not represent a currency pair, it gracefully returns “na.”

Incorporating Variable Values: Precision in Action

By incorporating these placeholders into your TradingView alerts, specifically tailored for the Indian Stock Market, you are not just setting up notifications; you are creating a dynamic and intelligent system. Tailor your alerts to specific conditions relevant to Indian stocks, monitor the market with precision, and stay ahead of price movements with confidence.

In the ever-evolving landscape of the Indian Stock Market, where time is synonymous with opportunity, the ability to customize alerts with variable values positions traders to make informed decisions swiftly. Enhance your trading experience, stay informed, and navigate the Indian markets with a strategic advantage! 📊🔍