Algorithm Settings
Algorithm Mode - Sensitivity - Agility - Labelling Styles - Automatic Settings
Last updated
Was this helpful?
Algorithm Mode - Sensitivity - Agility - Labelling Styles - Automatic Settings
Last updated
Was this helpful?
The algorithm settings impact the main signals of the Blackfire X indicator as the input values will determine the calculation strength of the indicator, the signal modes will determine the script to use when it comes to calculating areas for signals and the labelling style will change how the data is represented.
The algorithm mode will determine how the signals are strongly represented on your charts through using one of the four algorithm's detection methods.
Method one is the normal calculation protocol, which utilises the standard multipliers and data collecting methods to present users with a signal based on their settings.
Method two is the strategy mode, which places uses users in a strategy script environment, allowing them to see the potential stop loss and take profit areas for each signals and signals will be reduced by 50% due to the fact that each signal has to hit either the designated take profit line or the stop loss line in order to allow a new signal to be processed. Furthermore, users will be able to see their setting's win rate, total trades, gain on account, and much more.
Method three is the scalping mode, which utilises the users settings in a much stronger detection method that provides users with more frequent signals that can be used to more efficiently in ranging markets or short-term trending markets.
Method four is the swing mode, which utilises the users settings in a much weaker detection environment that provides users with less signals, however these signals are more likely to be in trending areas at the cost of some or many bars delay. These signals are effective for holding trades for longer than a day.
This input field will determine 50% of the final result of the signals. The sensitivity impacts the calculation code that changes the strength of the algorithm.
Increasing the sensitivity will lead to less signals on the charts and can lead to longer term signals, however it can cause signals to be detected later on in a trend.
Decreasing the sensitivity will lead to more signals where the signals will be short-term, better for ranging markets, however the cost is more noise and areas for false signals on the charts.
The agility accounts for the final 50% of the signals provided by the algorithm. The agility determines the secondary detection strength and utilises our custom candlestick data to confirm a signal. However, it may sometimes not change a signal's location or result.
Increasing the agility can cause signals to become delayed and provide less signals.
Decreasing the agility can cause more signals and provide earlier signals within the market.
There are three different styles of labelling the signals on the charts and they may help reduce overlay noise or help traders identify the type of signal that they are.
Buy and Sell labels will display the commonly used up and down labels with the text being either buy or sell depending on the trend.
Strong and Weak signals will display the commonly used up and down labels with the text being changed by taking into consideration the trend displayed. Strong is given on a candle with potential and a normal buy or sell is given on a candle with lower chance of potential.
Arrows will display little arrows facing in the direction of the signal identified. This may help reduce noise on the charts.
None will show no signals but keep everything else intact.
This toggle box will allow users, who are struggling to find an optimal setting, to utilise one of our auto-picked settings within the script to use onto the charts to help them get better signals and less noise. Automatic settings tends to aim for higher sensitivity for longer-term signals.
This setting comes in the form of a checkbox and it allows users to decide whether or not they would prefer to have a signal as soon as it becomes available or to have it come when the bar has closed and confirmed itself.
If enabled, signals will appear on the candle's close if a signal is confirmed at that time.
If disabled, signals will appear when they are available even if the candle hasn't finished confirming.
