NEXT Strategy VisualizerTM

a strategy builder for all NEXT indicators

Overview

As suggestive by its name, NEXT Strategy Visualizer enables traders to discover, configure, and plot strategy signals (in the form of arrows) based on any ChartVPS NEXT TradingView indicator. It is intended to be a visual strategy builder, primarily for discretionary trading. Historic and real-time signals are plotted when strategy conditions are met. Many of our clients use NEXT add-ons standalone or as part of a broader trading system (e.g. validation or enter / exit signal only). As of this writing, NEXT Strategy Visualizer fully supports our first TradingView add-on, NEXT RSI, a volume-weighed RSI indicator. All future NEXT indicators (and we have many planned) will also be fully compatible and pluggable into Strategy Visualizer. Below is an example of a NEXT RSI (Length 9, P/V Weighing 3) overbought/oversold (contra-trend, momentum) strategy plotted on EURUSD 10-Range chart via NEXT Strategy Visualizer.

ChartVPS NEXT RSI in EURUSD 10 Range price action, signals issued by NEXT Strategy Visualizer

Key Features

  • Plottable historic and real-time signals (long entry, short entry, long exit, short exit) for all ChartVPS NEXT indicators
  • Compatible with many non NEXT indicators
  • Applications include strategy discovery, backtesting, and discretionary trading

Input Parameters

  • Signal Source - This should be set to whichever NEXT add-on strategy you wish to visualize. In the example above, it is NEXT RSI. Signal Source will also take any other built-in or 3rd party TradingView indicator.
  • LE Level - When this level is crossed from below, a long entry signal is displayed on the chart. In the EURUSD example above, we used 10. Putting it together: when the NEXT RSI line (as selected in the Signal Source) crosses above 10, an up arrow, representing a long signal, is drawn.
  • SE Level - When this level is crossed from above, a short entry signal is displayed on the chart. In the EURUSD example above, we used 90. Putting it together: when the NEXT RSI line (as selected in the Signal Source) crosses below 90, a down arrow, representing a short signal, is drawn.
  • Use LX/SX - Checking this box will enable the next 2 parameters, LX Level and SX Level, intended for long exit and short exit signals.
  • LX Level - When this level is crossed from above, a long exit signal, in the form of a green "X", is displayed on the chart. For example, if we wanted to exit a long signal when RSI reaches and retraces under 75, we would set this value to 75. This way, an up arrow would be drawn at 10 and an "X" at 75.
  • SX Level - When this level is crossed from below, a short exit signal, in the form of a red "X", is displayed on the chart. For example, if we wanted to exit a short signal when RSI reaches and retraces over 25, we would set this value to 25. This way, a down arrow would be drawn at 90 and an "X" at 25.
Remember, all Level values are relative to the Signal Source. For example, the NEXT RSI scale runs 0 to 100 so numbers in that range make sense. Setting levels to any other number would cause the Strategy Visualizer to never draw a signal.
Important: In order to effectively use the NEXT Strategy Visualizer you must attach both the indicator you wish to visualize (NEXT RSI in our example) and the NEXT Strategy Visualizer indicator itself.

Strategies

All strategy ideas and tutorials for individual NEXT indicators will be powered by NEXT Strategy Visualizer and published on our TradingView page under Ideas and chartvps.com (e.g. NEXT RSI).

Momentum Play on QQQ 30-sec Chart

Below is another NEXT RSI strategy example, this time momentum play (scalping) on QQQ (Nasdaq-100 ETF) 30-second chart, using Strategy Visualizer's signals.ChartVPS NEXT RSI scalping on QQQ Nasdaq 100 ETF 30 sec chart

Momentum Play on Nasdaq-100 (NQ) 45-min Chart

Simple overbought-oversold momentum play using NEXT RSI, which blends volume analysis with momentum. Volume weighing of the algo reduces the lag and improves accuracy over vanilla RSI as volume often precedes price action. This is a contra-trend (momentum exhaustion) scalping strategy - use order management (TP, SL, trailing stops) and do not trade signal to signal (e.g. long-short-long).

ChartVPS NEXT RSI momentum play on Nasdaq-100 (NQ) 45-min Chart

You can find the high-resolution, interactive version of the above chart on our TradingView Ideas page.

Strategy Rules

  • NQ Futures, 45min chart
  • Long Entry when NEXT RSI crosses over 35
  • Short Entry when NEXT RSI crosses under 65

Order Management:

  • Take profit @ +$50
  • Stop Loss @ -$50

Prerequisites and set-up:

Download

TradingView is our platform of choice for publication of the NEXT framework (indicators, strategies, etc.). The platform is free to use (Basic plan) with optional paid features, if you need them. You don't for NEXT when using a single chart. Their fair approach to empowering retail traders aligns with ours. Trading should not be exclusive to hedge fund managers and professional traders. You can find all of our algo-driven software on the ChartVPS TradingView Scripts page. If you do decide to go with a paid version of TradingView (not required for ChartVPS NEXT), you can use this link to get up to $30 off.