PROTECTED SOURCE SCRIPT

AMA Alpha Trend

505
Key Features
4 EMAs (20, 50, 100, 200) plotted in distinct colors

ATR-based Trend Line

Uses mid-price (HL/2) ± ATR × Multiplier

Automatically “steps” higher in up-trends and lower in down-trends

Colored green when bullish, red when bearish

Breakout Triangles

▲ Green triangle when price closes above the trend line → potential long entry

▼ Red triangle when price closes below the trend line → potential short entry

Continuation Dots

● Green dot under every bar that remains above the trend line (bullish continuation)

● Red dot above every bar that remains below the trend line (bearish continuation)

Inputs & Customization
ATR Length: look-back period for True Range (default 14)

ATR Multiplier: channel width factor (default 2.0)

EMA Periods: hard-coded to 20, 50, 100, 200 but can be modified in code

How to Use
Trend Identification

When the trend line turns green, the market is bullish.

When it turns red, the market is bearish.

Entries

Long: look for a ▲ green triangle (price crossing above the green trend line).

Short: look for a ▼ red triangle (price crossing below the red trend line).

Trend Following

Hold as long as continuation dots (●) keep appearing in the trend direction.

Exits & Stops

Consider exiting when the opposite breakout triangle appears.

Place stops just beyond the trend line or a multiple of ATR.

Why This Works
Combining multiple EMAs with a dynamically-sized ATR channel captures both the direction and strength of a move. Breakout triangles mark fresh trend initiations, while the tiny dots confirm that momentum is still intact.

Tip: Experiment with the ATR multiplier on different timeframes—lower values for tighter, more sensitive signals; higher for filtering out noise.

Feragatname

Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.