Home | Trading Alchemy Manual | Alchemy Functions IndexAlchemyTrendSell (Function)AlchemyTrendSell function returns values representing sell signals based on the Alchemy Strong Trend Indicators. AlchemyTrendSell (FirstBar, Price, Length, Factor, DwnPrice, 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. |
| DwnPrice | 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 a down trend is detected, 2 when the market retraces back into the sell zone after a detected down trend and 3 when the market enters the sell zone after a detected down trend. The function returns 0 when there is no down trend detected. UsageThe
AlchemyTrendSell
function
is
designed
to
assist
traders
with
identification
of
strong
down
trending
markets
and
then
identify
possible
entry
points
in
the
direction
of
the
down
trend.
It
can
provide
possible
entry
points
in
the
direction
of
any
strong
trending
market
in
any
time
frame. When a strong down trend is identified, the function will return a value of 1. Once the trend is identified, possible entries into the direction of the down trend can be taken at the next pullback. The function returns a value of 2 when the market retraces back into the sell zone after a detected down trend and 3 when the market enters the sell zone after a detected down trend. The AlchemyTrendSell function is self-adaptive and responds to market volatility to adjust the potential entry points in real time. |