How To Trade Effectively With Viper Algo

Despite how easy buy/sell alerts are to follow, trading can still be complicated; this guide was made by the Viper Algo team to ensure the algo will be beneficial to you, rather than messy and stressful.

First, make a list of your favorite stocks to trade, you can do this by clicking 'Watchlist' on the top right-most button. Here, you can add stocks of your choice, I recommend only adding a few of your favorites as too many can be overwhelming.

Once Viper is on your screen, double click on any of the buy/sell tabs to open 'Inputs'.

Here, from the various trend additions, such as reversal band, support, resistance, trendlines etc., pick out the ones that best suit your trading style or that will benefit you. I prefer to keep my layout clean, with the buy/sell signals and one or two of these selected additions, being the trend cloud and the TP/SL levels.

When choosing your chart type, I prefer to use Heiken Ashi candles, simply because they follow the trend better. With this, you can also use higher highs, higher lows, lower highs, and lower lows to find the trend as another way of confirmation. Before entering a position on a long alert, you want to make sure the asset being traded is making higher highs and higher lows, showing overall strength (and vice versa for a short). You can confirm these by marking swing lows and highs, and making sure each is following the intended side. This is an example of a suitable long entry using higher lows and higher highs.

Perhaps the most important part of the algo, the TP/SL signals, provide you with a trading plan based on important levels. If you're a new trader, I suggest watching the algo perform on your favorite stocks a few times before following the signals, and remember to always play according to the TP/SL. Follow the rules, and happy trading!