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Indicators

What are Indicators?​

Just like in TradingView, where users can add indicators to charts, BuildAlgos allows users to add indicators to any data points they have added in the "Add Data" section.

Users can also stack multiple indicators—applying one indicator on top of another.

For example:

  • RSI on Open Interest of an ATM option.
  • EMA on RSI to smooth out indicator values.

How to Add an Indicator?​

  1. Click on the "+" button in the Indicators section.
  2. Select an indicator type (e.g., RSI, EMA, SMA).
  3. Choose a data point on which the indicator should be applied.
  4. Set the indicator parameters (e.g., period, smoothing).
  5. The indicator will be displayed in the list with an auto-generated element name.
  6. Users can edit (✏️) or delete (❌) indicators anytime.

Applying Indicators to Data Points​

  • Indicators can be added to Spot, Futures, Options, or any custom data points.
  • Users can also apply indicators on existing indicators to create custom indicator-based strategies.
Example

If a user has added RSI on Open Interest of an ATM Option,
they can further apply an EMA indicator on the calculated RSI value.

Types of Indicators​

Users can choose from various technical indicators, such as:

  • Simple Moving Average (SMA)
  • Exponential Moving Average (EMA)
  • Relative Strength Index (RSI)
  • MACD (Moving Average Convergence Divergence)
  • Bollinger Bands
  • Stochastic Oscillator
  • VWAP (Volume Weighted Average Price)
  • Custom Formula-based Indicators (Upcoming Feature)

Element Name​

Each indicator is assigned an Element Name, which acts as a unique identifier for use within the strategy framework.

tip

Users can rename the Element Name for better organization in complex strategies.

Use Cases for Indicators​

  • Trend Following Strategies
    → Use EMA, SMA to identify market trends.
  • Overbought/Oversold Conditions
    → Use RSI, Stochastic to find entry/exit points.
  • Volatility-Based Trading
    → Use Bollinger Bands to detect high/low volatility conditions.
warning

Ensure indicators are applied to relevant data points for accurate calculations.

Next Steps​

✅ Add Indicators to your strategy
✅ Use them in Conditions & Actions
✅ Combine multiple indicators for advanced trading logic