Trend line

אתמול

What Does This Script Do?
This script acts as a trading assistant designed to analyze the overall market trend using the CCI and ATR indicators. It generates clear buy and sell signals across multiple timeframes and displays them visually and directly on the chart.

Main Idea
Measuring the Trend:

The script uses CCI to determine momentum:
If CCI is positive: the trend is bullish (buy signal).
If CCI is negative: the trend is bearish (sell signal).
This analysis is enhanced using ATR to determine the expected price movement range.
Creating the Trend Line (MagicTrend):

The trend line dynamically changes based on price movements and market direction:
In an uptrend, it follows the lowest price while reducing noise.
In a downtrend, it follows the highest price.
Visual Signals:

The chart displays a color-coded trend line:
Green: bullish market.
Red: bearish market.
Alerts are triggered when the price crosses the trend line:
Crosses from below to above: buy signal.
Crosses from above to below: sell signal.
Multi-Timeframe Analysis:

The indicator analyzes the market across different timeframes (from 1 minute to 1 week) and generates buy/sell signals for each timeframe.
These signals are displayed in a table next to the chart, allowing for trading decisions based on multiple timeframes simultaneously.
Dynamic Table:

For each timeframe, the table shows:
Color: representing the trend direction (green for buy, red for sell).
Text: "BUY" or "SELL" based on CCI signals.
How Does the Script Help You Trade?
Simple Signals:

No need for complex analysis; just follow the table and trend line for your decisions.
Comprehensive Analysis:

Monitoring multiple timeframes provides a clearer market view.
Smart Alerts:

Built-in alerts ensure you don't miss key opportunities.
Practical Application
If you're a day trader: Use shorter timeframes like 1 minute or 5 minutes to get quick and accurate signals.
If you're a long-term trader: Focus on higher timeframes like daily or weekly for strategic decisions.