TradingView Enables Alerts for Long and Short Position Drawings
TradingView has introduced alerts for long and short position drawings. The update lets traders create an alert directly on a position drawing instead of setting separate alerts for individual price levels.
Position Drawings
Long and short position drawings are popular on TradingView because they bring the main parts of a trade plan into one drawing. Traders can see their entry level, stop-loss level, and take-profit levels. The drawing also calculates position size and risk/reward.
Previously, traders could not set an alert directly on these drawings. The drawing showed the planned levels but did not notify traders when price reached them. Users had to watch the chart closely or create horizontal lines for every level and place alerts on those lines. The new update removes that extra step.
One Alert
Now, traders may create a single alert that monitors the entry, stop loss, and take profit. When price reaches the entry, TradingView sends a notification. Then, the alert continues to monitor the exit levels. If price reaches the stop-loss levels or take profit levels, TradingView sends another notification and stops the alert. The alert can also catch an exit if price has already moved past the entry level when the alert is created.
Trade Details
The default alert message provides important trade details. It contains the ticker, level, price, quantity, and PnL. It gives traders the necessary context they need in the notification instead of requiring them to return to the chart to understand the alert.
Updated Alerts
The alert also stays connected to the position drawing. If a trader moves the drawing or changes its levels, TradingView automatically restarts the alert with the revised values. So, traders do not need to create a new alert every time they adjust their trade plan.
How to Create an Alert
Setting up an alert takes only a few steps:
- Draw a long or short position, or select one on the chart.
- Right-click the drawing and select Add alert, or use the floating toolbar.
- Customize the message, or use the pre-filled message.
- Click Create.
About TradingView
TradingView is a financial platform. It offers advanced charting tools, real-time market data, and a social network. TradingView provides tools for technical analysis, including various chart types, indicators, and drawing tools to analyze financial markets. Also, TradingView has a community to discuss insights, strategies, and market trends.
Wrapping Up
TradingView’s new alert feature makes long and short position drawings valuable for trade monitoring. Now, traders can use one alert to track their entry, stop loss, and take profit.
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