© TradingWhale trading indicators, individually and in combination, are designed to have the following features:
- Minimizing the ‘noise’ of normal price fluctuations of the underlying securities and exposing their natural oscillations and patterns while still providing quick response time at the edge of trend reversals.
-Providing accurate signals for trend-reversals before they happen so traders can maximize profit and reduce risk. To be fully transparent, this can’t always be achieved for every ticker and every time frame.
-Optimizing entry and exit for both long and short positions and thus improving the risk/reward ratio of the trade. We strongly believe in buying into weakness and selling into strength at the point of trend reversal, so we designed indicators with that goal in mind. We urge our users not to underestimate the impact this strategy can have on trading results. It is even more important when trading options and other highly leveraged instruments.
Btw, we would never ask our users to use our indicators with esoteric chart types such as Heikin Ashi, Renko, Kagi, Point & Figure, and Range, which produce unrealistic results. We prefer candles with no wick. Also see our disclaimer at the bottom.
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OMEGA Indicator
The Omega indicator algorithm pulls it all together and adds several useful features, incl. proprietary algos and free available indicators (Hull Moving Average and Multi-Moving Averages). It provides multiple proprietary signal algorithms as well as our AlphaTrend line and AlphaTrend colored bar charts. Alphatrend is not an EMA or other moving average. It reacts faster than EMAs at reversal while at the same time providing accurate trend continuation confirmation.
Benefits
- Proprietary AlphaTrend signal line is fast at reversals yet properly confirms intact trends
- AlphaTrend colored trend candles
- Proprietary Long and Short signals based on a combination of multiple indicators
- Details on how to best apply the signals included in Tooltips (see indicator settings)
- Modify periods for AlphaTrend, Hull MA, SMAs
- Turn signals on /off all at once or individually
- Create predefined Alerts based on signals
- Works for most timeframes
Signals
- AlphaTrend candle colors changing
- Price closing below the AlphaTrend signal line
- 6+ discrete signal algorithms providing up or down signal triangles
- Signals should always be considered on completed candles
Considerations
Automated signals don't work equally well on all time frames and symbols. Most of our discrete signals that provide up or down triangles work best for 15-Minute to 1-Day time frames. Depending on the signal you are using and the symbol you are trading, signals may also work very well for all way down to 3 minute time frames and all the way up to 3-month time frames.
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A friendly word of advice / Disclaimer
Successful trading requires more than professional indicators. It requires things like knowledge, discipline and constant learning, having a plan and executing accordingly. It requires risk management (ie. setting stop losses), position-sizing and many other things being properly managed. That is to say, no indicator in the world can by itself make you a successful trader or investor, just like an great kitchen knife doesn’t make you a chef and a Formula 1 car doesn’t make you a professional race driver. What our indicators can do is provide you with the context to better understand market patterns and use them to make high-probability trades confidently.
For those new to trading or technical analysis, we always recommend a demo account until you feel confident in using our indicators.