Stonksy Alerts

1. Open TradingView and Select Your Chart

Start by logging into your TradingView account. Users wishing to set up several alerts will need to sign up for one of the premium account levels, but if a single alert is all that is required, then users should be fine with using a free account. 

- Open the chart for the asset (eg, stock, forex, crypto) you want to monitor.

- Set up the chart with the correct asset and timeframe for which you wish to get alerts. 

At this point, you will also need to add Stonksy to the chart.

2. Create a New Alert

The next step is to find your alert management menu. 

To do this, look for the Alerts button. On desktop, this button is usually a clock or bell icon in the top toolbar; your alerts can also be found on the toolbar on the right-hand side of your chart view when you click on the alarm clock symbol. Alternatively, you can right-click directly on the chart, select Add Alert, or press ALT + A (Windows) or Option + A (Mac).

This works differently using TradingView via a mobile device or tablet application.

In the TradingView application on mobile, you will need three little dots in the bottom right. This will open a menu where you can find “Alert Management.” On tablets, the alert icon can be found on the bottom bar. 

3. Set Up the Alert Condition

To implement your alerts, you must open the Create Alert box. This will open a box that looks like the one below. 

The symbols setting refers to the pair for which the alert will be set. This is based on the chart you have loaded. Switching to a different chart or timeframe will change this box and the pair the alert is set for. 

The condition drop-down box will change which parameter the alert will be set on. In the box above, this alert will trigger when the price crosses $74,197.50. 

To set your alert to sound when Stonksy’s background colour changes, you must change the condition box to the Stonksy option. 

Once selected, you can choose which status you wish TradingView to alert for. 

Stonksy gives ten options. Six are for specific background colour changes, such as “Red to Green” or “No Colour to Red.” The next option is a generic colour change that alerts each time Stonksy’s background colour changes. The other three options alert for a change from any background colour to red, green, or no colour.

 
Stonksy Alert Options

The following dropdown box defines the trigger frequency for the alert. For this, there are four options.

i - Only Once

   - Description: The alert will trigger only once when the condition is met and will not repeat.

   - Use Case: This is typically used for unique or rare events, like major breakouts or a single important price target. It can also be used for one-off notifications where you do not need continuous alerts.

ii - Once Per Bar

   - Description: This alert will trigger once per candle if the condition is met, regardless of whether the bar has closed.

   - Use Case: This trigger is best for real-time monitoring of conditions within each bar, especially on lower timeframes requiring quick updates. This alert will trigger as soon as the condition has been met but will not trigger more than once per candle, which can result in false positives if conditions change before the candle closes.

iii - Once Per Bar Close

   - Description: The alert will trigger only once per bar, but only after the bar has closed with the condition met.

   - Use Case: This option is preferred to avoid false signals, as it waits for confirmation on bar close. It is most commonly used in strategies which require confirmed price action, where you need the condition to hold by the end of the bar.

iv - Once Per Minute

   - Description: The alert will trigger once per minute when the condition is met, regardless of the status of the candle.

   - Use Case: Useful for short-term trading where quick updates are crucial, and you want frequent checks on the condition without being tied to bar timing. This is commonly used for scalping or fast-moving markets. However, it can result in multiple alerts on the same condition if the price fluctuates within a candle. This can cause possible false positives throughout the candle as conditions dictate. 

Choosing the Right Trigger Frequency

- For Precision: Use Once Per Bar Close if you want confirmed signals after a bar closes.

- For Real-Time Monitoring, Use Once Per Bar or Once Per Minute for faster feedback, but be aware that these may result in more frequent alerts or false positives.

- For Unique Alerts: Use Only Once for conditions that should only notify you once.

A combination of Once Per Bar Close and Once Per Bar or Once Per Minute is a tactic that combines precision with real-time monitoring. It notifies the trader of a possible change of circumstance before the candle closes, so the trader is aware of a potential change in price action. However, it can lead to an excessive number of alerts. 

These settings allow you to control how often you're notified, ensuring that alerts match the timing needs of your trading strategy.

The final sections to complete are the expiration date, alert name and message. 

The expiration date of your alert can be a specific time and date, but it can also be left to proceed indefinitely by ticking a dialogue box. 

Setting an alert name and message is the final and one of the most critical steps. Setting these correctly ensures that you understand what the alert is alerting you about, ensuring you make the correct trading decision. 

Consider the following example. Tony wants to be alerted to when he should go long, so he sets up an alert for when the background colour on Stonksy changes from red to green or no colour to green. Tony would then set up two alerts, one for the shift from red to green and another for a change from no colour to green. Tony also sets up the alerts to trigger upon bar close so he does not get false signals. 

To ensure he knows he is to go long, Tony labels the alerts with: 

“Go Long - Red to Green” 

and “Go Long - No Colour to Green”. 

He then labels the descriptions with: 

“Background changed from red to green - Go Long {{close}}” 

and “Background changed from red to co colour - Go Long {{close}}”. 

Adding the {{close}} means that the alert adds in the price the bar closed at in the alert, ensuring he has all the information he needs to set up his trade.

4. Configure Notification

The next step is to determine how you wish to receive your notifications. You have several different options:

- Notify on App: Get notifications on the TradingView mobile app.

- Show Popup: Displays an on-screen pop-up notification.

- Send Email: Sends an email to the registered email address.

5. Create the Alert

- Webhook URL: (Advanced) Allows you to send alert notifications to external services via a webhook.

- Play Sound: Plays a sound on your computer when the alert is triggered.


After configuring all settings, click Create. Your alert is now active, and will monitor the chart for the specified condition.

6. Managing Alerts

Once an alert is created, you can manage it through the Alerts Manager:

- Open the Alerts panel (usually on the right side of the screen).

- Here, you can view all active alerts, edit settings, pause/resume, or delete alerts as needed.

- The Alert Log tab shows a history of triggered alerts, including the time and details.

To Conclude

Setting up alerts on TradingView is a powerful way to stay on top of market movements and make timely trading decisions. 

You can tailor alerts to match your trading strategy and risk tolerance by customising alert conditions, frequency, and notification methods. Setting up effective alerts can give you an edge, enabling you to monitor multiple assets and strategies without constantly watching the screen. As you become more familiar with TradingView’s alert tools, they can be invaluable in supporting a proactive and disciplined approach to trading.