Upper Limit/Lower Limit : Highest and Lowest values for entire grid.
Number of Grids: Number of trade zones.
Show Grids: Show or hide all gridlines.
Show Only Current Grids: Only display the grids just above and just below the current trade zone.
High/Low for signals: If enabled, signals are triggered as soon as the price touches the next zone. If disabled, signals are triggered after bar closes. Enable this for “Once Per Bar alerts. Disable for “Once Per Bar Close” alerts.
Highlight Trade Zones
The grid bot should work well during ranging/choppy markets. Each zone will have only one trade, and then will immediately take profit in the next zone.
However, trending markets can produce multiple signals in rapid succession:
If the gridlines are compressing the chart space, enable the “Show Only Current Grids” in settings.
Show Only Current Grids disabled
Show Only Current Grids enabled
When changing symbols, adjust the Upper and Lower Limits to accommodate the new symbol. Otherwise, the chart will look compressed.
XBTUSD chart with ETHUSDT settings
The bot is a proof-of-concept and is considered experimental. Possible future updates will include Fibonacci grids and “smart entry/exits,” depending on the current trend. Comments and suggestions are encouraged.
- Added market direction filter. Bot will skip ever other signal against market direction (up or down).
- Added option for signal plot size.
You could be able to do that in the webhook section of the alert box if you use a service like Alertartron or Scavengerbot
In the name of all TradingViewers, thank you for your valuable contribution to the community, and congrats!
I’m plotting btc/usd with range from 34k-55k, 70 grids.
This is a Pinescript limitation.
Pinescript won't draw more than (approx) 50 lines.
A possible work-around could be to dynamically draw only 25 grids above and 25 grids below the current price. Have to think about how to implement.