AlphaTrend
AlphaTrend is a brand new strategy derived from Trend Magic. Alpha Trend tries to solve those problems such as:
1-To minimize stop losses and overcome sideways market conditions. 2-To have more accurate BUY/SELL signals during trending market conditions. 3- To have significant support and resistance levels. 4- To bring together indicators from different categories that are compatible with each other and make a meaningful combination regarding momentum, trend, volatility, volume and trailing stop loss. according to those purposes Alpha Trend: 1- Acts like a dead indicator like its ancestor Magic Trendin sideways market conditions and doesn't give many false signals. 2- With another line with 2 bars offsetted off the original one Alpha Trend have BUY and SELL signals from their crossovers. BUY / LONG when Alpha Trend line crosses above its 2 bars offsetted line and there would be a green filling between them SELL / SHORT when Alpha Trend line crosses below its 2 bars offsetted line and filling would be red then.
Download PineScript(Cash/Futures) here
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