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Strategies and indicators

How a TradingView strategy signal and an indicator signal trade, why an indicator needs a take profit and stop loss, and what Dynamic TP and SL does.

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Written by Lars Preben Sørsdahl

Each signal of your own is a TradingView Strategy or a TradingView Indicator, chosen under Signal Source. They trade differently, and the source can't be changed later.

A strategy

A strategy has its own entries and exits. Each alert says what it just did and the position it now holds, so your accounts follow it in and out, partial exits and reversals included. There is nothing to set for exits.

An indicator

An indicator signal always trades one way, its Trade type (Buy or Sell), for its Quantity. Its alert fires on the entry and says nothing more. To trade both ways, make a Buy signal and a Sell signal, each with its own alert. On one account, while one holds the product, the other's alerts are skipped: One agent per product.

Why an indicator needs a take profit and stop loss

No exit alert ever comes, so the take profit and stop loss attached to the entry are the trade's only way out. That is why an account on an indicator signal can't be switched on without both.

  • Set them on the signal under New accounts start with (TP and SL on a desktop), and every account you tick starts with them.

  • Or per account: press its size, such as MNQ ×1, and fill in both under Protection.

  • Choose pts, ticks or $. Each is a distance from the fill, and $ is per contract.

A change applies from the next entry. A trade already open keeps its levels.

Dynamic TP and SL

Switch on Dynamic TP and SL, in Add parameters or later under Edit, when the indicator plots its own levels.

  1. Choose Points, a distance from the fill, or Price, a level on the chart.

  2. Fill in Take profit points and Stop loss points (or price): a value the indicator plots, such as plot_0, or a fixed number.

  3. Press Create, or Save, and paste the signal's Message into its alert, replacing any older one.

Each alert then carries its own levels, and only those are used: the accounts have nothing to set. An alert without them, or with a value TradingView did not fill in, is not traded.

On a Simulated connection

A take profit or stop loss is placed there but never fills, because there is no live price behind it. An indicator trade on a Simulated account stays open until you close it: Flatten and stop agents.

For choosing accounts and sizes, see Put a signal on an account.

Still stuck? Press Help in the app: Leeloo, the AI assistant, answers from these articles, and the team is one click away.

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