This post needs to be migrated at its appropriate threadpin12 wrote: ↑Sat Jan 26, 2019 7:01 amHello,
I was looking for the famous Magic Trend indicator ("Trend Magic" is another different indicator) and I found this one. I do not know if it will be the original, but here I share it.
description of the indicator:
The MagicTrend Indicator Plugin For Amibroker
The MagicTrend indicator plugin for Amibroker is designed for working as a complete trend following tool. The indicator uses average true range, current price swing data with some complex logic. This is for keeping us in the position as long as the ongoing trend sustains. The indicator contains the following indications for deciding trend and low-risk entry:
The color of the line and arrow direction suggests the direction of the trend. The color convention is standard. i.e. Light green for uptrend and red for the downtrend.
The value of the line suggests the highest amount of correction that the price can undergo without affecting the trend direction.
The risk barometer suggests a low-risk entry in the ongoing trend. The length of the color suggests the type of trade that can be entered with lower risk. If the green area in the bar is bigger than the red area it suggests a long trade is possible with low risk if the ongoing trend is up and vice versa for short entry in the downtrend.
If anyone has information about this interesting indicator, please share it here.
"Trend Indicators" - here