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Alpha Trend Spotter

This is an indicator for finding the strongest trend each day, suitable for intraday trading or a swing trading.

See the live performance at : https://www.mql5.com/en/signals/93383


How to Use:

  1. RED BAR means Bearish Trend for the next candle
  2. GREEN BAR means Bullish Trend for the next candle
  3. ORANGE BAR means Sideways Trend for the next candle


Example:

If we are using D1 timeframe, see the last BAR, if the bar is RED BAR, open short/sell for today.

If we are using H1 timeframe, see the last BAR, if the bar is GREEN BAR, open long/buy until next hour.

You can сombined it with Parabolic SAR Indicator for helping you to place the TP & SL.

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Version 2.1 - 2015.06.04
Signal Alert Added
Version 2.0 - 2015.05.13
What's New:

- Enhanced the algorithm
- Fixed major bugs
- New layout