Market Emotion Switch for TradingView

Setting Manuals

1. Indicator Setting

Market Emotion Period: Determines the timeframe over which market sentiment is calculated, affecting sensitivity to market changes.

Market Emotion Long Period: Sets a longer period for evaluating market emotion, offering a broader view of sentiment trends.

Market Emotion Price: Select the price point (close, open, high, low,…) to analyze market emotion, influencing the indicator’s reaction to market moves.

Market Emotion Price Filtering Period: Adjusts the period for filtering market price data, enhancing the smoothness and reliability of emotion signals.

Market Emotion Price Filtering Mode: Choose the mode of filtering price data (e.g., moving average types) to refine market emotion analysis.

Market Emotion Percent: Specifies the percentage threshold for recognizing significant changes in market emotion, defining sensitivity to sentiment shifts.

Market Emotion Average Period: Sets the period for calculating the moving average of market emotion, smoothing out short-term fluctuations.

Market Emotion Average Type: Select the type of moving average (e.g., Simple, Exponential) for averaging market emotion, tailoring the indicator’s responsiveness.

Price MA Filter Period: Defines the period for the moving average filter applied to price, aiding in trend detection.

Price MA Filter Method: Choose the method of the moving average filter (e.g., Simple, Exponential), affecting how price trends are smoothed.

Price MA Filter Applied Price: Determines the price (close, open, high, low) to which the moving average filter is applied, refining trend analysis.

SL & TP:

ATR Period for SL Shift: Adjusts the period over which the Average True Range (ATR) is calculated, used for dynamically setting stop loss levels.

SL Shift Coefficient (from ATR): Multiplier for the ATR to determine the stop loss distance, allowing adjustments based on market volatility.

TP Coefficient (from SL): Sets the take profit distance as a multiplier of the stop loss distance, aiding in maintaining a consistent risk-reward strategy.

STYLING

Up Arrow String: Customize the text label for buy signals, enhancing clarity on bullish entries.

Down Arrow String: Customize the text label for sell signals, enhancing clarity on bearish entries.

Up Arrow Color: Selects the color for upward arrows, visualizing bullish signals.

Down Arrow Color: Selects the color for downward arrows, visualizing bearish signals.

Up/Down Arrow Size: Adjusts the size of the arrows for better visibility on charts.

Display TP/SL on Chart: Toggles the visibility of take profit and stop loss levels on the chart, aiding in trade management.

TP Color: Customizes the color of the take profit line, distinguishing it on the chart.

SL Color: Customizes the color of the stop loss line, distinguishing it on the chart.

Max Bars to Calculate: Limits the number of bars back from the current bar that the indicator calculates, optimizing performance.

2. Set up alerts:

To stay updated on potential trading opportunities, you can set up alerts within the Market Emotion Switch.

Step 1: From the indicator settings, customize your alerts by defining your desired parameters. The selected configurations will be used for notifications in Step 2.

Step 2: To receive notifications through the app, pop-ups, alert emails, Webhook URL, sound alerts, or email-to-SMS, enable these features by clicking on TradingView’s “Alert” icon.

Step 3: Select Market Emotion Switch from the “Condition” dropdown list:

Step 4: A pop-up will appear as follows. You click on “Notifications”.

Step 5: You choose the types of notifications you’d like to receive and click the “Create” button.