[TTI] Minervini MonAlert Pro

2023年4月15日

––––HISTORY & CREDITS 🏦
This indicator, [TTI] Minervini MonAlert, is an updated version of the October 2022 [TTI] Minervini MonAlert (https://www.tradingview.com/script/hYOpeYAL-TTI-Minervini-MonAlert/).
Special thanks to Michael Walstedt michaelwalstedt for his valuable contributions to make this happen. The script is inspired by the stealth platform functionality, MonAlert, by Mark Minervini, the legendary trader and market wizard. The acronym MonAlert stands for Monitor and Alert.

––––WHAT IT DOES 💡
The [TTI] Minervini MonAlert indicator is designed for traders who want to have "Minervini-like" eyes on technical setups for confirmation and violations. It helps to monitor and alert users about various technical setups, painting on the chart the things that Mark Minervini looks for pre and post buy to confirm or violate the trade. The indicator includes 58 daily and weekly indicators, covering various aspects of technical analysis that show confirming or violating action.

––––FUNCTIONALITIES
Label Plots
At each bar you can see how many confirmations and violations have triggered. The indicator prints a label with the sum of the total number of confirmations in green and violations in red. These can be turned on and off, so that only confirmations or violations are plotted.
🚨When you hover with the mouse over the labels, you can see exactly which indicators have triggered! Example of the functionality is shown on the chart with the picture in black outline.

Summary Label
You can turn on a label on the right hand side to show the total sum of the confirmations and violations. If violations are more than confirmations the label will color accordingly. The period for which the calculations are made is customizable in the settings.

Background Coloring
The background of the chart can be colored if it is turned on in settings.
👉Option 1 is to color the period which the indicator analyses
👉Option 2 is to color according to the recent balance (sum) between violations and confirmations. 🟩Green background means that there are more confirmations and 🟥Red means there are more violations. 🟨Orange means confirmations and violations are the same number

Bars only
If you add another instance of the indicator and move it to a new pane you can trigger the Additional Charts funcationalities and see the a histogram of bars. These can be set with 3 settings:
👉Net: Showing the net between the number of violations and confirmations
👉Confirmations only: Showing only the number of confirmations
👉Violations only: Showing only the number of violations.

––––CALCULATIONS
Some indicators are both confirming and violating, others are only violating or only confirming. Hence the total number of signals are 58.
// Indicator 1 - Lower Lows and Higher Highs: Looks at consecutive lower lows and higher highs based on thresholds suggested by Mark
// Indicator 2 - Looks for days with significant price advancement
// Indicator 3 - Good and Bad closes: Looks at how the stock is closing compared to its intraday range
// Indicator 4 - Analyzes the price action around the 50-day simple moving average
// Indicator 5 - Stock Under Pressure: Looks whether the stock is under technical pressure as per IBD methodology.
// Indicator 6 - Up days and Down days looks wether the stock has been mostly going up or down
// Indicator 7 - Studies the largest volume days and their directio
// Indicator 8 - Detects wether there is an Outside Day
// Indicator 9 - Identifies relative strength new highs and new lows
// Indicator 10 - Monitors for potential reversals in price trends
// Indicator 11 - Detects for pattern called "Megaphone" that signifies increases in volatility
// Indicator 12 - There is a famous rule of William O'Neil about stock making 20% advancement
// Indicator 13 - ANTS Confirmation - a pattern coined by David Ryan, that looks for both consecutive advancement and volume
// Indicator 14 - Angle D - an technical pattern coinded by Mark Minervini, that looks at the price direction vs the direction of the 50D SMA
// Indicator 15 - 17 Closes around key moving averages
// Indicator 18 / 19 Observes stock closing prices at high or low points
// Indicatro 19 - Detects significant reversals in stock price trends that are backed by significant volume
// Indicator 20 - Identifies stocks that decline with a substantial volume increase.
// Indicator 21 - Issues a warning for stocks that may be overextended, compared to its own price action
// Indicator 22 - Highlights days with a narrower price range than the previous day
// Indicator 23 - 24 Detects the largest down days accompanied by high trading volume.
// Indicator 25 -Pinpoints stocks that rise with a substantial volume increase (e.g. +30%)
// Indicator 26 - 30 Studies weekly price trends, analyses significant weekly declines on high trading volume and examines for the largest percentage price decline.

––––HOW TO USE IT 🔧
To use the [TTI] Minervini MonAlert indicator, follow these steps:

1️⃣ Apply the indicator to your chart by searching for "[TTI] Minervini MonAlert" in the TradingView indicators section. The script is 'invite-only'.
2️⃣ Customize the indicator's settings to suit your trading style and preferences.
3️⃣ Observe the various technical setups and alerts generated by the indicator on your chart.
4️⃣ Use the outputs of the technical setups as confirmation signals or violations to help make informed trading decisions. A stock that is gathering a lot of violating action before or after a breakout is a lower probabiltiy setup.
5️⃣ Combine the [TTI] Minervini MonAlert indicator with other technical analysis tools or methods for a more comprehensive trading strategy.

Remember that the [TTI] Minervini MonAlert indicator should be used as a supplement to your existing trading strategy and not as a standalone tool. Always consider other factors, such as fundamental analysis and risk management, to make well-rounded trading decisions.

2023年9月22日

版本注释

3 Major updates
Ratio Bar Chart Plot

• Adding a new BarChart plot style called Ratio plot - apart from looking at the Net result of number of Confrimation - Violations, now we have a Ratio, which plots Confirmations/Violations
  
• Default color is cyan and significant color is lime green. Mid term high ratio is plotting as a dotted line
  
• Tooltip of the actual Violations and Confirmation when you hoover mouse across the dotted line!!
  
• Background coloring for bullish vs bearish periods (green signifies bullish period, orange transitionary and red bearish period)
  

Bar Chart Analysis

• Hoover over bar charts to see which exact Confirmations and Violations have triggered
  
• For Confirmation and Violations hoover over the end of the bar body to see the tooltip
  Example If the confirmation candle is showing 2 hover at the top of the candle where 2 would be

Recipes (look at the second picture below)
Recopies are custom conditions that alert when certain Violations or Confirmations have happened.
These do not require you to sit in front of chart but will be notified via TradingView app or SMS or Email when a set of Violations have printed. The Recipe includes various combination of Confirmations and Violations tailored to the specific idea of the Recipe.
Currently we have the following Recipes:

• Significant Recipe
  
• 4 Weekly only C+Vs
  
• Big Stop Move 2Wks
  
• Basic Recipe
  
• No After a Buy
  

Example of the mechanics of a Recipe: Big Stop Move 2Wks is a recipe that we use after we have had a large enough gain in a TML and want to give the stock space to move. It will trigger if any of the following happen:
Stock closes below the 50D MA, The stock goes Daily under pressure, Close below the 50D with High volume, Having 2 Weekly Lower lows or having the Weekly under pressure. You can add an alert for the recipe and then when and of the following happen you will be notified. There is a screenshot example of how to add a recipe - Make sure you choose under condition the Indicator and then the Recipe (look at the second picture)

https://www.tradingview.com/x/IXbStEY5/

https://ibb.co/W5HLBRChttps://ibb.co/5LpQBjr