Home | Trading Alchemy Manual | Alchemy Functions IndexAlchemyTrendBuy (Function)AlchemyTrendBuy function returns values representing buy signals based on the Alchemy Strong Trend Indicators. AlchemyTrendBuy (FirstBar, Price, Length, Factor, UpPrice, MinBars, Retest) Parameters |
|
FirstBar |
Specifies the bar number of the first bar calculated |
|
Price |
Specifies a numeric expression representing the price of a bar to be averaged (that is, Close, Open, Volume, and so on) |
|
Length |
Specifies the look back period. |
|
Factor |
A multiplier applied to the current bar’s range. |
| UpPrice | Specifies the price representing the price of a bar to be used for a strong trend calculation (that is, Close, Open, Volume, and so on) |
| MinBars | Specifies the minimum number of strong trend bars required to qualify for a strong trend. |
| Retest | Specifies the minimum number of non-trending bars before a new strong trend can develop. |
ReturnsThe function returns 1 when an up trend is detected, 2 when the market retraces back into the buy zone after a detected up trend and 3 when the market enters the buy zone after a detected up trend. The function returns 0 when there is no up trend detected . UsageThe
AlchemyTrendBuy
function
is
designed
to
assist
traders
with
identification
of
strong
up
trending
markets
and
then
identify
possible
entry
points
in
the
direction
of
the
up
trend.
It
can
provide
possible
entry
points
in
the
direction
of
any
strong
trending
market
in
any
time
frame. When a strong up trend is identified, the function will return a value of 1. The function returns a value of 2 when the market retraces back into the buy zone after a detected up trend and 3 when the market enters the buy zone after a detected up trend. TThe AlchemyTrendBuy function is self-adaptive and responds to market volatility to adjust the potential entry points in real time. |