Royal Algo V2 Indicator Settings

All updates on new features of Royal Algo will be posted here.

Settings Overview:

Royal Algo V2 Features?

All the following settings can be disabled and enabled based on your preference.

- Sensitivity Settings can be set to three settings (Low, Moderate, and High)
- Color Settings
- Ichimoku Cloud Filter
- Dashboard Settings
- Sessions for forex market
- ATR Settings
- Support and Resistance

Below is a more detailed explanation

Sensitivity Settings

You can adjust the Sensitivity Settings into 3 different settings. Low (Recommended, Moderate, and High)

You can find out more about the sensitivity settings here - Linl

Color Settings

You can customize the color of Buy and Sell signals. The color will also reflect on the dashboard as well as TPs and SL.

Ichimoku Cloud Filter

This setting will allow you to reduce the signals using the Ichimoku Cloud. When enabled, Royal Algo will only display Buy signals above the cloud and Sell signals below the cloud.

Here's a chart example

Unfiltered:

Filtered:

You may get delayed but higher quality signals when you choose to enable the cloud filter.

Dashboard Settings

Show market condition - Show Trending or Ranging condition on dashboard

Table size - Adjust the size of the dashboard into different size

Table position - Allows you to change the position of the table anywhere on your chart

Timeframe - Enable to see the current signal on that particular timeframe

Dashboard

On the the Dashboard, you will find the signals across multiple timeframes, market condition, and current sessions for forex market.

Sessions

This feature is applicable on forex market. You can ignore this, If you're trading other markets like stocks, or crypto etc.

Show market sessions on chart - If you enable this, you will see a highlights on your chart for the active market session based on the session time value. This includes session overlap.

Timezone - This allows you to adjust the session indicator based on your timezone. Check your local timezone in GMT format.

Session time - Customize the session indicator time for your timezone. Research Forex sessions for your timezone and adjust accordingly.

Market sessions on chart view

Built-in TP & SL Feature - ATR Settings

This built-in TP & SL feature is automatically adjusted based on market volatility.

ATR Multiplier for TP1 - This allows you to adjust TP1 lines. Value of 1 means averaged one bar length.

ATR Multiplier for TP2 - This should be 2x the amount of TP1 value.

ATR Multiplier for TP3 - This should be 3x the amount of TP1 value.

ATR Multiplier for SL - This allows you to adjust the SL lines. Value of 1 means averaged one bar length. This amount is suggested to be equal to TP 1.

Reminder: It is suggested to wait for the signal candle to close before entering to fully confirm the signals.

Also, it is very important to focus on the most active time of the day where there is a lot of volume for consistency.

TP & SL Recommended Risk Settings

You can adjust the TP & SL lines on the settings by changing the values of TP & SL multiplier.

Low Risk Setting (RECOMMENDED)

TP1 = 2
TP2 = 4
TP3 = 6
SL = 2

Moderate Risk Setting

TP1 = 3
TP2 = 6
TP3 = 9
SL = 3

High Risk Setting

TP1 = 4
TP2 = 8
TP3 = 12
SL = 4

You can always go lower or higher depending on your risk tolerance.

All done!

Feel free to explore Royal Algo on your chart and check out the strategies section if you haven't already.

INFO

If you need any assistance or have any questions, please reach out to us via email on our website under the contact us section or the email down below. Royal Algo offers 24/7 support. But due to high traffic, it may take a few hours for our support team to respond. We will do our best to get back to you in a timely manner.

Please email us at @royaltradingalgo@gmail.com