Alpha Trend Indicator from AlgoForex
- Indicatori
- Versione: 1.0
AlphaTrend is a sophisticated trend-following indicator designed for MetaTrader 5, based on the world-renowned algorithm developed by Kıvanç Özbilgiç. This version has been significantly enhanced with a professional Signal History & PnL Dashboard, making it a complete trading workstation for trend traders.
Overview
AlphaTrend goes beyond simple moving averages. It combines Volatility (ATR) and Momentum (MFI or RSI) to create dynamic support and resistance lines that adapt to market conditions in real-time. It effectively filters out market noise, allowing traders to stay in profitable trends longer while exiting quickly during reversals.
Key Features:
- Dynamic Trend Detection: Uses a unique hybrid of ATR and Money Flow Index (MFI) to plot its path.
- Volume-Adaptive: Automatically switches to RSI logic if volume data is unavailable for the current symbol.
- PnL Dashboard: A built-in real-time panel that tracks the performance of the last 50 signals.
- Floating PnL Tracking: See the current profit/loss of the latest signal live on your chart.
- Advanced Visuals: Includes cloud filling, signal dots, and shifted arrows to ensure clear visibility without cluttering your price action.
- Non-Repainting: Signals are finalized once the candle closes, ensuring reliable backtesting and execution.
Signal Logic & Dashboard
The indicator generates BUY and SELL signals based on the crossover of the AlphaTrend line and its Trigger (delayed line). The dashboard on the top-right corner provides critical data for the last 15 visible signals (and calculates up to 50 in history):
- Type: The direction of the signal (BUY/SELL).
- Entry: The price at which the signal was confirmed (Close price of the signal candle).
- PnL: Profit or Loss in standard pips.
- Total Stats: Overall Win/Loss ratio and total pips accumulated.
Input Parameters
- Source : Applied price for calculations (Default: Close).
- Length : The period used for ATR and MFI/RSI calculations (Default: 14).
- Multiplier : Coefficient for ATR-based volatility bands (Default: 1.0).
- No Volume Data : Enable this to use RSI instead of MFI (useful for some Indices or Stocks).
- Show Signals : Toggle the visibility of BUY/SELL arrows and dots.
Trading Strategy
AlphaTrend is best used in trending markets. When the price is above the green line, the bias is bullish. When below the red line, the bias is bearish. Look for BUY signals when the market breaks into a bullish structure and vice versa. Use the Signal Dashboard to verify the indicator's performance on your current timeframe before taking trades.
Developed by: AlgoForex
