Alerts

This page outlines all the available signals generated by the RenkoGurus-PowerMeter indicator, including long/short entries, exits, and filter states. These can be used to guide discretionary trading or trigger automated strategies.

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✅ Entry Signals

🔹 Long Entry Signal

• Trigger:

  • Strong positive direction (+DI > -DI)

  • Rising strength (sig > sig[1])

  • Trend strength exceeds the "Ceiling" threshold

• Alert Condition:

  • goLong

• Visual Marker:

  • Green circle below the bar

🔸 Short Entry Signal

• Trigger:

  • Strong negative direction (-DI > +DI)

  • Rising strength (sig > sig[1])

  • Trend strength exceeds the "Ceiling" threshold

• Alert Condition:

  • goShort

• Visual Marker:

  • Red circle above the bar

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❌ Exit Signals

🔻 Exit Long

• Trigger:

  • Bearish candle pattern (e.g., lower close after higher open)

  • Trend weakens below base range

• Alert Condition:

  • longExit

• Visual Marker:

  • Red triangle above the bar (display optional)

🔺 Exit Short

• Trigger:

  • Bullish candle pattern (e.g., higher close after lower open)

  • Trend weakens below base range

• Alert Condition:

  • shortExit

• Visual Marker:

  • Green triangle below the bar (display optional)

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🎯 Profit Taker Exits

Profit Taker Long Exit

• Trigger:

  • X bars after long entry (default: 1 bar)

  • Or Exit Long condition

• Alert Condition:

  • longProfitTakerExit

• Visual Marker:

  • Red triangle at top (optional)

Profit Taker Short Exit

• Trigger:

  • X bars after short entry (default: 1 bar)

  • Or Exit Short condition

• Alert Condition:

  • shortProfitTakerExit

• Visual Marker:

  • Green triangle at bottom (optional)

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📈 Rank Filter State

Rank Plot (Area Plot)

• Green Fill: Uptrend filter confirmation

• Red/Dark Fill: Downtrend filter confirmation

• Used For:

  • Visual confirmation of trend consistency

  • Optional filter for automated entry validation

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⚙️ Settings Reference

These are the default and configurable inputs for tuning the behavior of the PowerMeter indicator:

Setting Name	Description
Strength	Controls the signal smoothing length; higher = smoother trend strength.
Direction	Sets the length for direction index calculation (+DI and -DI).
Base	Minimum trend strength to avoid ranging zones; orange bars if below this.
Ceiling	Threshold for identifying strong breakout momentum.
Profit Taker Bars	Number of bars after which profit-taking signal is triggered.

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🔔 Alerts Page Notes

You can create alerts directly from the TradingView interface using the following conditions:

• Long → Triggers on strong long signal confirmation (goLong).

• Short → Triggers on strong short signal confirmation (goShort).

• Exit long → Alerts when exit conditions for a long position are met.

• Exit short → Alerts when exit conditions for a short position are met.

• Profit Taker Long Exit → Alert when the predefined bar count or exit condition occurs for a long.

• Profit Taker Short Exit → Alert when the predefined bar count or exit condition occurs for a short.