Signal Monitor / Connectable [Azullian]

29 Feb 2024

The connectable signal monitor is a connectable tool to help test, visualize signal weights. Like all connectable indicators, it interacts through the TradingView input source, which serves as a signal connector to link indicators to each other. All connectable indicators send signal weight to the next node in the system until it reaches either a connectable signal monitor, signal filter and/or strategy.

Let's review the separate parts of this indicator.

█ INPUTS

We've provided 3 inputs for connecting indicators or chains (1→, 2→, 3→) which are all set to 'Close' by default.



An input has several controls:
 • Enable disable: Toggle the entire input on or off
 • Input: Connect indicators here, choose indicators with a compatible : Signal connector.

■ VISUALS



 • ☼: Brightness % : Set the opacity for the signal curves
 • 🡓: ES Color : Set the color for the ES: Entry Short signal
 • ⭳: XS Color : Set the color for the XS: Exit Short signal
 • ⌥: Plot mode : Set the plotting mode
    ○ Signals IN: Show all signals
    ○ Signals OUT: Show only scoring signals
 • 🡑: EL Color : Set the color for the EL: Enter Long signal
 • ⭱: XL Color : Set the color for the XL: Exit Long signal


█ USAGE OF CONNECTABLE INDICATORS

 ■ Connectable chaining mechanism

Connectable indicators can be connected directly to the signal monitor, signal filter or strategy, or they can be daisy chained to each other while the last indicator in the chain connects to the connectable signal monitor, signal filter or strategy. When using a signal filter or signal monitor you can chain the filter to the strategy input to make your chain complete.



 • Direct chaining: Connect an indicator directly to the signal monitor, signal filter or strategy through the provided inputs (→).
 • Daisy chaining: Connect indicators using the indicator input (→). The first in a daisy chain should have a flow (⌥) set to 'Indicator only'. Subsequent indicators use 'Both' to pass the previous weight. The final indicator connects to the signal monitor, signal filter, or strategy.


 ■ Set up the signal monitor with a connectable indicator and strategy

Let's connect the MACD to a connectable signal monitor:


1. Load all relevant indicators
 • Load MACD / Connectable
 • Load Signal monitor / Connectable

2. Signal Monitor: Connect the MACD to the Signal Monitor
 • Open the signal monitor settings
 • Choose one of the three input dropdowns (1→, 2→, 3→) and choose : MACD / Connectable: Signal Connector
 • Toggle the enable box before the connected input to enable the incoming signal

Now that everything is connected, you'll notice green spikes in the signal monitor representing long signals, and red spikes indicating short signals.

█ BENEFITS

• Adaptable Modular Design: Arrange indicators in diverse structures via direct or daisy chaining, allowing tailored configurations to align with your analysis approach.
• Streamlined Backtesting: Simplify the iterative process of testing and adjusting combinations, facilitating a smoother exploration of potential setups.
• Intuitive Interface: Navigate TradingView with added ease. Integrate desired indicators, adjust settings, and establish alerts without delving into complex code.
• Signal Weight Precision: Leverage granular weight allocation among signals, offering a deeper layer of customization in strategy formulation.
• Advanced Signal Filtering: Define entry and exit conditions with more clarity, granting an added layer of strategy precision.
• Clear Visual Feedback: Distinct visual signals and cues enhance the readability of charts, promoting informed decision-making.
• Standardized Defaults: Indicators are equipped with universally recognized preset settings, ensuring consistency in initial setups across different types like momentum or volatility.
• Reliability: Our indicators are meticulously developed to prevent repainting. We strictly adhere to TradingView's coding conventions, ensuring our code is both performant and clean.



█ COMPATIBLE INDICATORS

Each indicator that incorporates our open-source 'azLibConnector' library and adheres to our conventions can be effortlessly integrated and used as detailed above.
For clarity and recognition within the TradingView platform, we append the suffix ' / Connectable' to every compatible indicator.



█ COMMON MISTAKES, CLARIFICATIONS AND TIPS

 • Removing an indicator from a chain: Deleting a linked indicator and confirming the "remove study tree" alert will also remove all underlying indicators in the object tree. Before removing one, disconnect the adjacent indicators and move it to the object stack's bottom.
 • Point systems: The azLibConnector provides 500 points for each direction (EL: Enter long, XL: Exit long, ES: Enter short, XS: Exit short) Remember this cap when devising a point structure.
 • Flow misconfiguration: In daisy chains the first indicator should always have a flow (⌥) setting of 'indicator only' while other indicator should have a flow (⌥) setting of 'both'.
 • Hide attributes: As connectable indicators send through quite some information you'll notice all the arguments are taking up some screenwidth and cause some visual clutter. You can disable arguments in Chart Settings / Status line.
 • Layout and abbreviations: To maintain a consistent structure, we use abbreviations for each input. While this may initially seem complex, you'll quickly become familiar with them. Each abbreviation is also explained in the inline tooltips.
 • Inputs: Connecting a connectable indicator directly to the strategy delivers the raw signal without a weight threshold, meaning every signal will trigger a trade.



█ A NOTE OF GRATITUDE

Through years of exploring TradingView and Pine Script, we've drawn immense inspiration from the community's knowledge and innovation. Thank you for being a constant source of motivation and insight.



█ RISK DISCLAIMER

Azullian's content, tools, scripts, articles, and educational offerings are presented purely for educational and informational uses. Please be aware that past performance should not be considered a predictor of future results.

11 Mac 2024

Nota Keluaran

- Updated license

18 Mac 2024

Nota Keluaran

- Update 'azLibConnector' version
- Update chart preview