Magic Trend indicator is an indicator combining the Commodity Channel Index (CCI) and the Average True Range (ATR) indicators. The indicator is represented by a line that turns red when CCI readings are below 0 and converts to blue when CCI reaches above 0. Color of the line can be treated as a trend indicator. When CCI > 0 (Blue Color), price is assumed to be...
AlphaTrend is a brand new indicator which I've personally derived from Trend Magic and still developing: In Magic Trend we had some problems, Alpha Trend tries to solve those problems such as: 1-To minimize stop losses and overcome sideways market conditions. 2-To have more accurate BUY/SELL signals during trending market conditions. 3- To have significant...
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...