Here we are demonstrating a different approach to trend analysis using AlexGrover's G-Channel. Using this method of trend detection, we will consider the asset bullish if it breaks through the upward bounds of the channel at any time, and consider it bearish once it breaks downwards.
We have also simplified coloring: If we're in an uptrend, we're only drawing from the upwards part of the channel to the midline. And if we're in a downtrend we're only drawing from the downward part of the channel to the midline.
@vikkranntshah, I have not backtested it tough. But by looking very quickly it looks like it gives more accurate signal than inacurate. Send me a message if you make it before me.
I have added alert condition into your script but it is not working as well as plotshape in the script. It creates alerts after 3 candles, why this would happen? do you have any idea?
SaiyadRasikh
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I used it on Nifty trend for 1 day signal. It is giving out 93% profitable trades which is huge!!!. Not sure if i am making some mistake here.
dose it repaints ?