Ganesh wrote: Mon Oct 30, 2023 12:58 am Alpha trend bands (mtf +arrows + alerts).ex4

Hi, mrtools, kindly add candle colour display option.and ATR bands in additition to standard deviation ,THANK YOU.

Alpha Trend Bands with ATR & Candlestick overlay

Hi,

Added an atr band and candle options.

What is the Alpha Trend indicator?

The Alpha Trend is an improved version of what was originally called "Trend Magic".

Upon inspection of the code we can see that the Alpha Trend formula consists of several indicators:

• RSI (Relative Strength Index)
• ATR (Average True Range)
• MFI (Money Flow Index)

Improving over the Trend Magic's solid foundations, the Alpha Trend ensures it's able to withstand ranging markets keeping you aligned with the right trend even in times of low or no trading activity.

This version includes ATR bands as well as a Candlestick overlay.

PS: For the Histogram version, please see: Alpha Trend Bands Histogram indicator.