Minervini MonAlert Pro
Introducing the Minervini MonAlert Indicator – an indispensable trading tool that brings legendary trader Mark Minervini's wisdom to your fingertips! With this powerful and versatile indicator, you can monitor and track technical setups just like Minervini does, giving you an edge in your trading journey. Whether you're a novice trader or a seasoned pro, the Minervini MonAlert Indicator will enhance your market analysis by providing valuable insights to confirm or violate potential trades.
––––BACKGROUND AND ACKNOWLEDGMENTS 🏦
Minervini MonAlert is an enhanced version of the October 2022 Minervini MonAlert ([TTI] Minervini MonAlert), developed with invaluable contributions from Michael Walstedt (@MichaelWalstedt). This innovative script is inspired by the legendary trader and market wizard, Mark Minervini, and his stealth platform functionality, MonAlert. The acronym MonAlert stands for Monitor and Alert.
––––KEY FEATURES 💡
The Minervini MonAlert Indicator is designed to provide traders with "Minervini-like" insights into technical setups for confirmation and violations. It helps monitor and alert users about various technical setups, visually displaying crucial elements on the chart that Mark Minervini looks for before and after entering a trade. With 58 daily and weekly indicators, this powerful tool covers a wide range of technical analysis aspects, showing confirming or violating actions.
Label Plots: At each bar, the indicator displays the total number of confirmations in green and violations in red. You can customize the display to show only confirmations or violations. Hover over the labels to see precisely which indicators have triggered!
Summary Label: Enable a customizable label on the right-hand side of the chart to display the total sum of confirmations and violations. The label's color changes based on the balance between confirmations and violations.
Background Coloring: Customize the chart's background to highlight the analyzed period or to display the recent balance between violations and confirmations. Green indicates more confirmations, red signifies more violations, and orange means confirmations and violations are equal.
Bars only: Add another instance of the indicator and move it to a new pane to trigger the Additional Charts functionalities and view a histogram of bars. Customize the display to show the net between violations and confirmations, confirmations only, or violations only.
The Minervini MonAlert Indicator consists of 58 signals, some of which are both confirming and violating, while others are only confirming or violating. The signals include various indicators, such as Lower Lows and Higher Highs, significant price advancements, good and bad closes, price action around the 50-day simple moving average, stock under pressure, up days and down days, largest volume days and their direction, outside days, relative strength new highs and new lows, potential reversals in price trends, and many more.
––––HOW TO USE IT 🔧
To utilize the Minervini MonAlert Indicator, follow these steps:
1️⃣ Search for "[TTI] Minervini MonAlert Pro" in the TradingView indicators section and apply the invite-only script to your chart.
2️⃣ Customize the indicator's settings to suit your trading style and preferences.
3️⃣ Observe the various technical setups and alerts generated by the indicator on your chart.
4️⃣ Use the technical setups as confirmation signals or violations to help make informed trading decisions. A stock with many violations before or after a breakout is a lower probability setup.
5️⃣ Combine the Minervini MonAlert Indicator with other technical analysis tools or methods for a comprehensive trading strategy.
After you have purchased the indicator have to send us your TradingView username in order to get access.
ThinkorSwim (available, but separate):
Please send us an email and if you would like a ThinkorSwim version of this script. ThinkorSwim version is sold separetly from the TradingView version of the script and takes 5 days of delivery.
Link to TradingView script
After payment is made, access to the script will be given within 2 hours
Link for a video demonstrating the indicator's functionality