Grok Algo FAQS

Click on any of the ​"Frequently Asked Questions" for the answers to be revealed. 

What is a trading algorithm

​A trading algorithm is like a set of rules that a sophisticated computer program follows to make decisions about buying and selling assets in the stock market. The computer program uses backtested information like the price of stocks and how they have been performing to make its decisions. The goal is to make these decisions faster and more accurately than a person could. Trading algorithms can be used for various purposes, including market making, trend following, statistical arbitrage, and high-frequency trading, and can be applied to a variety of financial instruments.

What are Grok Algos and how do they work

​Grok Algos are powerful hedge-fund-worthy trading algorithms that uses machine learning (ML) (a subset of artificial intelligence (AI)) to deliver buy and sell signals on any asset such as stocks, ETF’S, currencies, futures, cryptocurrency, etc.

More specifically, Grok Algos are TradingView “strategies,” (also known as “studies”) which are trading algorithms that can analyze financial market data and generate trade signals based on user-defined rules and parameters. They work by evaluating market data, such as price and volume, and executing trades based on defined conditions.

How do I open a Grok Ago strategy/study on TradingView?

To open a Grok Algo strategy, follow these steps:

1. Open a chart: Open the chart for the financial instrument you want to apply the study to.
2. Apply the study: Click on INDICATORS in upper main navigation; navigate to the INVITE-ONLY scripts and click on the Grok Algos.
3. Optimize the study’s input parameters: If necessary, adjust the parameters for the algo to fit your specific requirements. To adjust parameters, go to SETTINGS (gear icon of specific algo) and navigate to INPUTS.
4. Save the study: Once you have applied and adjusted the study, and like the performance results, click on the “Save” button to save the parameters to your chart. Name the algo well for easy identification.
   
   ​Note: Access to invite-only scripts in TradingView is granted on an invitation-only basis and is subject to certain restrictions. If you have subscribed to the Grok Algos and do not have access to the invite-only algo scripts, please contact us at admin@groktrade.com.
   
   

How do I backtest Grok Algos in TradingView

​Backtesting a Grok Algo strategy in TradingView involves simulating trades based on historical market data to see how the strategy would have performed in the past. The following steps can be used to backtest a strategy in TradingView:

1. Open the algo’s settings: While on a chart with an applied Grok Algo, click on SETTINGS (gear icon).
2. Set the backtesting period: Set the start and end dates for the backtesting period. This is the period of time for which you want to test the performance of your strategy.
3. Adjust the strategy parameters: Make any necessary adjustments to the strategy parameters, such as the stop loss and take profit levels.
4. Run the backtest: Once you have set the backtesting period and adjusted the strategy parameters, click the “Run” button to run the backtest.
5. Analyze the results: The backtest will generate a performance report showing the results of your strategy, including the number of trades, the profit and loss, and other key metrics.
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Note: Backtesting is not a guarantee of future performance and past performance does not guarantee future results.

How do I set alerts in TradingView for the Grok Algos

​To set alerts in TradingView, follow these steps:

1. Chart: Apply a Grok Algo study to a chart.
2. Alerts: Either 1) click on the “Alerts” button in the top/right navigation menu, or 2) right-click anywhere on the chart and select “Alerts” from the context menu.
3. Create a new alert: Click on the “Create Alert” button to create a new alert.
4. Configure the alert:
   1. SETTINGS TAB

i.CONDITIONS -- choose the Grok Algo alert.
ii.EXPIRATION – choose open-ended alert or set a date range.
iii.ALERT NAME – Be as specific as possible so you can easily identify alert.
iv.MESSAGE – Leave the study settings as it’s descriptive of your INPUT settings.

1. NOTIFICATIONS TAB

i.Click any desired alert notifications.
ii.No need for “webhooks URL” unless using trading automation with your broker.

1. Alert management: Click on the “Alerts” button in the top/right navigation menu to delete or edit any previously set alerts.
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Note: Alerts in TradingView are meant to provide notifications and are not designed to execute trades automatically. It is important to understand the limitations of alerts and to use them as part of a comprehensive trading strategy.

How do I configure alerts on TradingView

​Here are the specific details for configuring alerts:

1. Open the chart: Open the chart for the financial instrument you want to set an alert for.
2. Create a new alert: Either right-click on the chart. Click on the “Create Alert” button to create a new alert.
3. Select the alert type: Choose the type of alert you want to set, such as price alerts and which Grok Algo alerts.
4. Configure the alert: Configure the alert settings, such as the trigger price, the sound or notification type, and the conditions under which the alert will be triggered.
5. Price alerts: You can set alerts for a specific price level, such as a resistance level or a support level. You can choose the type of alert, such as a pop-up, an email, or a push notification.
6. Indicator alerts: You can set alerts based on the value of an indicator, such as a moving average or a relative strength index. You can choose the type of alert, such as a pop-up, an email, or a push notification.
7. Strategy alerts: You can set alerts based on the conditions of a strategy script, such as a buy signal or a sell signal. You can choose the type of alert, such as a pop-up, an email, or a push notification.
8. Save the alert: Click on the “Save” button to save the alert.
9. Monitor the alert: The alert will be displayed in the “Alerts” window, and you will receive notifications when the alert is triggered.

Does TradingView need to be running to send you an alert

​No, TradingView does not need to be running for alerts to be triggered and sent. TradingView alerts are designed to be sent via email or SMS regardless of whether the platform is open or running on your device. As long as you have set up an email or SMS alert for a chart, you will receive notifications when the conditions for the alert are met.

Does changing the inputs on a Grok Algo affect previously set/saved alerts? 

When using TradingView, alerts are set based on the chart and its inputs at the time the alert was created. If you change the inputs of a strategy and have an existing alert set for that chart, the alert will continue to trigger based on the original inputs, not the updated ones. To reflect the changes in the alert, you will need to recreate the alert with the updated inputs and save those changes.

How do I use Grok Algo strategies with multiple timeframes in TradingView

​You can use strategies with multiple timeframes in TradingView. This means that you can apply a strategy to multiple charts with different timeframes (e.g., daily, weekly, monthly) at the same time. This allows you to analyze and trade a financial instrument from different perspectives and to consider both short-term and long-term market trends.
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To use a strategy with multiple timeframes in TradingView, you will need to create separate charts for each timeframe you want to use and apply the same strategy to each chart. Then, you can monitor and manage your trades from a single platform, even if the trades are based on different timeframes.

Note: Using strategies with multiple timeframes can be a complex and advanced trading technique, and it may be more suitable for experienced traders. It is important to understand the risks involved and to thoroughly test the Grok Algo strategy before deploying it in live trading.

How can I use Grok Algo strategies in automated trading through TradingView?

You can use Grok Algo strategies in automated trading through TradingView, which means your broker will automatically enter and exit trades based off the Grok Algo.

To use a Grok Algo strategy in automated trading, you need to connect your TradingView account to a brokerage account, or a trading bot that supports automated trading. This is a technically complex endeavor and should only be completed when fully informed and comfortable with the automation.

Once you have connected your accounts, you can configure your Grok Algo strategy to enter and exit trades automatically based on your defined rules and criteria. The trading bot or brokerage account will then execute trades on your behalf according to your strategy, without the need for manual intervention.

Note: 1) Due to being highly trained in technical analysis, Grok Graduates (i.e., those who have completed the 301/401 mentorships) may consider not fully automating the Grok Algos given them the option to be more selective on what trades to take and when to exit them.

Note: 2) Automated trading involves the use of algorithms and software to execute trades, and it can be a complex and advanced technique. It is important to thoroughly test your strategy and understand the risks involved before deploying it in automated trading. Additionally, it is crucial to choose a reputable brokerage account that provides reliable execution and low latency.

How do I properly manage my Grok Algo alerts?

It's easy to add numerous alerts on multiple Grok Algos and timeframes. Before you know it, you'll have alerts popping off so frequently your head will spin, which is not ideal. It's best to find the best performing algos on the security assets you desire to trade and focus on those alerts. If using multiple alerts on various security assets you will want to title them well, so you can quickly identify each triggered alert. Be sure to delete alerts you no longer want activated. 

What Market data Live-Feed subscriptions do I need for my TradingView account?

With your paid Tradingview account, you will need to subscribe to real-time data. This will allow you to see correct algo performance results within Tradingview when you view and/or modify your strategy/algo inputs. (Note: Not having the right real-time data will deliver incorrect output data on securities.)

Establishing Real-time Data Steps:

• Log into Tradingview
• Go to Settings (click on your user profile pic in the upper right corner)
• Go to Account and Billing
• Click Add Extra Market Data
• Consider subscribing to Arca, NYSE, and NASDAQ (Stocks). These will cover most stocks and ETFs. To get more options, the CME Group will give you most e-mini futures and OTC Markets will give you smaller lesser-known stocks

What TradingView Subscription should I get?

Establish a paid TradingView account here click here (Algos are not compatible with free accounts).

Although any paid subscription allows access to the Grok Algos, we strongly recommend subscribing to their PREMIUM service, that gives you 20,000 historical bars of data (for better backtesting), which is double the amount of bars/data of the next lower subscription level (i.e., Pro+ and Pro). ​

How do I access the public spreadsheet of the best Grok Algo inputs?

​Subscribers may access and input their best Grok Algo inputs for others to benefit by here: ​https://docs.google.com/spreadsheets/d/1LOjU7-OKuo_Comz8E-8W5sm5g_b4J3aii0A4r0l7_Wk/edit?usp=sharing