Trend Magic is originally a MT platform (MetaTrader) indicator and it can be used with any forex trading systems / strategies for additional confirmation of trading entries or exits. Converted the MT platform code to TradingView Pine version 4. Also you can use Multiple Time Frame.
It also works well with Crypto and Stock Markets.
Trend Magic consists of two main calculation parts as momentum and volatility:
First part is ATR based (like ATR Trailing Stop) logic, second part is all about CCI which also determines the color of Trend Magic. Blue: when CCI is positive Red: when CCI is negative
Also added alert condition regarding price crosses : when LOW CrossesAbove TM and HIGH CrossesBelow TM
@KivancOzbilgic You are amazing and so are your script. Many thanks for the great share brother.
I'm not good with coding, I tried and but it didn't trigger an alert.
Is there a way to setup Alert when the color of the trend line changes.
Blue for Buy Alert?
Red for Sell Alert?
Would really appreciate the help.
Much Love!
LeonTr
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Yes, would be very nice to have additional alerts for color changes. +1
kypexin
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@LeonTr, @jammy1971 - I have come across this thread and made a modification for color change alert. You need to add the following two lines at the end of the script code:
alertcondition(cci(src,period)[0]>=0 and cci(src,period)[1]<0, title="Color changed to uptrend", message="Color changed to uptrend") alertcondition(cci(src,period)[0]<0 and cci(src,period)[1]>=0, title="Color changed to downtrend", message="Color changed to downtrend")
Keep in mind that indicator repaints if trend conditions change, so in sideways / choppy market this may result in too many alerts both ways, which might confusing.
vldmr2828
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@kypexin, Hi! I`ve added your commands to script`s code, setup collor change alerts, but its not working (alerts are not appearing). What could be a problem?
kypexin
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@vldmr2828, hi, that's not the first time someone complains about that but I don't know the reason. if you can share an email address I would send out full code of the script which is working. the forum just won't let post the message of that size right here :)