Alpha Bands, this is a new idea I've been playing with recently in all my indicators.
In layman terms we are here using mult to multiply length of the plot to replicate effect of multi time frame plot. Under the hood it is basically fast ma crossing over slow one but with this simple multiplier introduction is able to give it properties of higher TF ma's but without the usual problem of the TV where multitimeframe MA plots rather crudely if you use security function.
Introducing it as core trend indicator, and around it I've utilized ATR to create simple but complete indicator to give good view of the market state and trend. Due to this setup it can be used for both trending and mean reversion trades, you can also utilize existing ranges for entry, exit and SL.
This indicator is example of how simple little tweaks can turn a age old tools into more advanced solutions.
This is purely for educational purposes, any past or claimed results may not replicate themselves while you trade them so use your own discretion. Author takes no responsibility of individual traders success or loss on this.
Source code will be protected since there is trend on TV where ideas are stolen and sold to unsuspecting retailers.
Phát hành các Ghi chú
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Added regular cross for fast filtering and showing the difference in price action.
Enjoy~
Phát hành các Ghi chú
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Update - Updated to V5 and made code more efficient.
This is amazing ! Gonna try this and come back ! Thanks a tonne !!! Quick Query - is this Pinescript v4 or v5 ? No coder - sorry for asking
Pratik_4Clover
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@Nitin249, V4, but I can update it in V5, I'm just busy these days with other stuff. But sure, will do it in future. Also, V4 or V5 doesn't really matter that much here in terms of functionality.
Quick Query - is this Pinescript v4 or v5 ? No coder - sorry for asking