AlterTrend: Candlestick Colors for Trend Direction and Flat Markets
Summary
AlterTrend is a chart indicator that changes candlestick colors to show the relationship between each bar and the indicator’s trend signal. Bars aligned with the signal appear bright, while bars moving against it appear dark; bars in a flat market are left uncolored. The description explains how to read the visual states, but it does not specify how the trend direction is calculated or what thresholds define a flat market.
The document identifies an author and refers to an indicator figure, but gives no testing results, trading rules, or evidence that the coloring predicts returns. It is therefore a visual aid for interpreting a trend signal, not a fully described entry or exit strategy. Its usefulness depends on the undisclosed signal logic and should not be taken as evidence of profitability.
Key ideas
- The indicator colors candles according to their direction relative to its trend signal.
- Candles aligned with the signal are bright, and candles against it are dark.
- Candles during flat conditions receive no color.
- The description does not explain the trend calculation or provide performance evidence.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.