Magic Trend Indicator

Magic Trend Indicator

Magic Trend Indicator may help identifying the correct trend direction.
It is plotted on the price chart, like any moving average, though it is faster, more accurate
and reliable than other trend following indicators.

The calculation of indicator is based on ATR, current price direction and some more complex
logic.

Magic Trend Indicator changes its color based on the direction of the trend, so if the line
is green then the trend is up and if it is red then the trend is down.
The value of Magic Trend indicator can be used as trend reversal trigger on closing basis.
If you are on long position and on any bar price closes below the indicator value then the
indicator turns red from the next bar to indicate the reversal of trend, so the trader can
exit his long position and take short position at the same time.
The opposite rules apply to the short positions.

A buy signal is also triggered when the closing price crosses above the Magic Trend line and
a short signal is triggered when the closing price crosses below the Magic Trend line.

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Risk disclosure:

No information on this site is investment advice or a solicitation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.

ProRealTime ITF files and other attachments : How to import ITF files into ProRealTime platform?

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  1. naluis • 11 days ago #

    what is the function of temp1? it is not taken into account in the calculation

  2. murre87 • 11 days ago #

    How can i use this in a strategy?

  3. robertogozzi • 11 days ago #

    It is well described above.
    To use it you can use CALL as with any other indicator.
    This is the instruction:
    myMagicTrend = CALL “Magic Trend”[20, 14, 1, 5]
    Parameters (you can change them as best suits you):
    20 is the CCI periods
    14 is the ATR periods
    1 is the ATR multiplier (can be a decimal number)
    5 is the periods of a Simple Moving Average.

  4. murre87 • 11 days ago #

    I Created a thread for this
    https://www.prorealcode.com/topic/magic-trend-strategy/

  5. murre87 • 11 days ago #

    Wich timeframe and index are used in your picture?

  6. Johann • 4 days ago #

    Hi Roberto, Thank you for the work but how do you get the indicator to change color from green to red and vice versa? Mine is one color only with no option to change it in the configuration window?

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