Price-Level Alerts with a Deviation Band and One Trigger per Bar
Summary
This indicator monitors the latest closing price for proximity to a user-defined level. A configurable deviation defines the alert band around that level, which is displayed with horizontal lines. When price enters the band, the indicator can issue a pop-up alert, a mobile push notification, or both. Traders can add multiple instances to a chart to watch separate levels.
The trigger is limited to once per bar: after a notification, another can occur only when a new bar opens, provided the condition is met. This reduces repeated alerts from successive ticks while price stays near the level. The document provides implementation details and describes the behavior, but presents no market testing or evidence that level proximity predicts price direction. It is an alerting aid, not a defined entry, exit, or risk-management strategy.
Key ideas
- A configurable price level and deviation band determine when the indicator triggers.
- Horizontal lines mark the selected level and the band boundaries.
- Alerts can be sent as pop-ups, mobile notifications, or both.
- A trigger is limited to once per bar to reduce repeated tick-level alerts.
- The document gives no evidence that the alerts forecast price movement.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.