Is UT Bot v2 really free?
Is UT Bot v2 really free?
Yes. UT Bot v2 is a public, open-source TradingView script, licensed under MPL 2.0. It works on any TradingView plan, including the free plan.
How is it different from the original UT Bot?
How is it different from the original UT Bot?
The core logic, an ATR trailing stop, is the same. UT Bot v2 is a modernized implementation with cleaner visuals and code, more customization (such as the price source), built-in alerts, and an integrated backtesting strategy.
Why does it show up as a strategy?
Why does it show up as a strategy?
UT Bot v2 is published as a TradingView strategy so you can backtest it. It plots on the chart like an indicator, and TradingView also shows its simulated trades in the Strategy Tester panel.
Does UT Bot v2 repaint?
Does UT Bot v2 repaint?
Buy and Sell signals are generated only on closed bars, so they don’t appear and disappear on the bar that’s still forming. The trailing stop line on the current bar does update live until the bar closes. See Buy & Sell Signals.
Which settings should I use?
Which settings should I use?
Start with the defaults (Multipier
1, ATR Period 10) and adjust Multipier first. A higher value means fewer, later signals. See Settings and ATR and Signal Sensitivity.Can I use Heikin Ashi candles?
Can I use Heikin Ashi candles?
UT Bot v2 has no Heikin Ashi setting. It calculates from whatever chart type it’s on. If you apply it to a Heikin Ashi chart, it uses Heikin Ashi values, and TradingView strategy backtests on Heikin Ashi charts can be unrealistic.
Which markets and timeframes does it work on?
Which markets and timeframes does it work on?
Any symbol and timeframe TradingView supports. Like other trend-following tools, it tends to work best in sustained trends and produces more whipsaws in ranging markets.
Why are my backtest results so good?
Why are my backtest results so good?
By default, the strategy has no commission or slippage set. Add realistic costs under Settings → Properties. Backtests describe past data only.
Can I automate trading with UT Bot v2?
Can I automate trading with UT Bot v2?
You can send alerts to external services with webhooks. Use order fill alerts for custom JSON messages. See Alerts and Webhook Alerts & Automation. Test any automation thoroughly before using real funds.
Can I modify the source code?
Can I modify the source code?
Yes. See Source Code.
How is UT Bot v2 different from UT Bot Suite?
How is UT Bot v2 different from UT Bot Suite?
UT Bot Suite is a separate paid toolkit with UT Bot Pro and Ultimate UT Bot Screener. See Free vs Premium.