It has been said that the vast majority of people who trade lost money - some sources will claim this figure is 95% or more! SimpleAlgo is a trading tool that aims to fix this problem by making trading logical with its algorithmic technical analysis which claims to be mostly profitable.
Let’s go over what SimpleAlgo is, the methods that it uses to trade, and why it could be profitable.
Why Most Traders Fail, and How Software Can Help
While there are many reasons related to why most traders fail, the act of trading can be reduced to the decision to buy or sell. Decisions are almost always emotion-based, and emotions often cloud logic, which can result in costly mistakes. For this reason, many traders resort to technical analysis to assist in their decision-making or even make decisions entirely. However, technical analysis (TA) is often time consuming and is subject to human error. It often requires the manual drawing of lines and even candles, and the process of creating indicators such as moving averages and support and resistance lines.
Even when these TA-based indicators are available as a feature of a trading chart, they are still missing concrete signals that tell you when to buy and sell. SimpleAlgo aims to solve this problem by making TA simple, accurate, and automated.
What is SimpleAlgo?
SimpleAlgo touts itself as the ultimate trading tool to help you gain an edge in the markets, complete with the most accurate chart signals. It is a trading indicator that is sold on a monthly subscription or lifetime basis.
It makes technical analysis instantaneous with its automated algorithm which will give signals in the form of 'Buy' and 'Sell' labels on your chart that you can act on.
SimpleAlgo works with the chart of any asset that is listed on TradingView, and is active 24/7 once you are signed up for it. It’s a technical-analysis-based algorithmic software which has the goal of eliminating the human error of emotional decision-making. The logic of the software is straightforward, showing buy and sell signals at key levels depending on technical analysis principles. These signals can be automated, which will save you the time it takes to stare at charts–in crypto it’s 24/7.
A Summary of SimpleAlgo's Features:
- Customizable buy and sell signals
- Automated charting add-on for TradingView
- Automated Risk Management
- Algorithmic technical analysis, including support for:
- Trending Candles
Candles on the chart will be colored green or red depending on the trend (up or down)
- Reversal bands
These bands can indicate levels in which an asset will begin to trend down or up at a certain level and wrap around the trading candles.
- Volatility/Energy Clouds
Slightly different from the bands, the clouds are extensions that are attached to the channel, with the clouds getting larger if the trend is stronger. They are also colored red and green to indicate whether the market for the asset is turning bullish or bearish.
- Support & Resistance Lines
For a less cluttered look at the chart, you can choose to view support and resistance lines which will be drawn as simple horizontal lines that are red or green, indicating levels that should be bought or sold at.
- Trending Candles
All of these features are powered by an algorithm that is always running, and decision-making is simple because you are able to act on the buy and sell alerts which you can customize based on your risk tolerance.
How to Use SimpleAlgo
SimpleAlgo is designed to be a simple trading indicator software that is user friendly for both beginners and experts. It’s quick and easy to set up and configure.
Here is a quick guide on how to use it:
Step 1: Get a TradingView account
In order to set up SimpleAlgo, you need a TradingView account first as the software is simply an add-on to TradingView charts–think of it like a Google Chrome plugin.
It’s free to get a TradingView account, but they offer a premium membership as well which has some nice perks like saveable chart layouts and no advertisements.
Since it offers such thorough automated technical analysis, SimpleAlgo can also be used as an alternative to upgrading your TradingView account.
Step 2: Connect your TradingView account with SimpleAlgo
Once you have purchased SimpleAlgo and are logged into your TradingView account, you will have access within a few hours, where it will show up as an Invite Only Script in the Indicators tab of your chart.Simply make sure that it is active, and SimpleAlgo will be ready to go.
Step 3: Customize, receive signals, and trade
Because there are many different ways to use SimpleAlgo, you need to adjust it based on your trading strategy and which indicators you would like to track to receive the buy and sell signals.
You can toggle between different technical analysis views to view things like bands and lines so that you can make live decisions or predictions while viewing the chart.
Even if you are away from the charts, you can receive signals in the form of emails, app notifications, or activating webhooks.
Overall, users seem to enjoy the simplicity and actionable insights that SimpleAlgo provides. While there are no reviews on their website, feedback can be found elsewhere and is positive overall:
- On Whop, the average rating is 4.93. Happy users discuss how much their trading has improved from using the signals, in both knowledge and profit.
- Some TikTok users post reviews of SimpleAlgo showing how easy it is to use, with the beginner-friendly, straightforward red/green and buy/sell logic.
Signing Up for SimpleAlgo
If you want assistance with TA trading for just about any asset with a public chart, you should consider using SimpleAlgo.
You can buy SimpleAlgo on Whop, where you can choose either a monthly or lifetime membership. Once you have SimpleAlgo, you will add a powerful yet simple tool to your trading arsenal. Ideally, it will make your life simpler by reducing emotion-clouded decisions and simplifying the potentially complicated and confusing technical analysis.
👉 While a panacea for the painful game of trading the markets does not exist, SimpleAlgo plays its role well as a simple yet effective trading tool that allows you to get closer to your trading goals, no matter which market you are playing. Sign up to SimpleAlgo to power up your trading today!
How much does SimpleAlgo cost?
SimpleAlgo is priced at $29.95 per month. It has a simple pricing model with no tiered options or different feature offerings. It is possible to purchase SimpleAlgo lifetime access on Whop for $129.95.
Which markets can I use SimpleAlgo on?
Since all that it needs is a chart, any market that is on TradingView – which includes stocks, Forex, and crypto, will be supported by SimpleAlgo. However, you can only use SimpleAlgo as an add-on to TradingView, which means you might want a paid account with them as their free plan is limited.
Is SimpleAlgo a trading bot?
SimpleAlgo is not a trading bot since it will not execute buy or sell orders for you. It simply gives signals that you can choose to act on.
Does SimpleAlgo have a guarantee?
SimpleAlgo guarantees that it will perform accurate algorithmic technical analysis as promised, however, it is impossible to guarantee a 100% profit rate if one is to buy and sell whenever the signals say to do so. They do not suggest that you trade solely based on their signals, but as a supplement to your existing strategy and a part of your decision making.