INDICATOR
Ultra Trend
A superior trading indicator that works in all market regimes and generates accurate signals. The indicator is developed for the TradingView platform.
Description - Ultra Trend v1.0 [by TC]
Description
Ultra Trend by TradingCanyon is a very reliable indicator that successfully generates accurate buy and sell signals. The algorithm script is based on a momentum and trend strategy, and depends on a filter technique to filter false signals. The filter technique lowers the impact of random price fluctuations and is used to identify changes in price trends.
The Ultra Trend indicator works very well for all instrument types and timeframes. The indicators can be used to discover precise trading opportunities, for swing trading strategies as well as long-term investments. The trend indicator can also be used for the crypto markets, where the intrabar volatility often is high.
It is very important that you optimize the indicator settings. Each financial instrument has its own rhythm, so you must adjust and fine tune settings to optimize the trading signals. You can tune and tweak the indicator settings to improve signal generation accuracy. Settings can sometimes be very individual, depending on your trading style and timeframe used.
The default settings of the Ultra Trend indicator are optimized for use on all timeframes. If you use the indicator to trade lower or higher timeframes, you may need to adjust the default settings to optimize it for your trading style and instrument type.
All our indicators are 100 % non-repainting indicators. (They do not change signal after the price bar is closed.)
Key benefits
- Easy to use. There is nothing more to do than install the indicator with a few clicks. You can use it either as a trading tool to identify optimal entry or exit positions or as a trading system. You don´t have to spend days studying how the indicator works before you start making profitable trades.
- Very accurate trading signals. This indicator only produces high quality trading signals, so you don’t have to chase setups that end up as losing trades.
- Less time-consuming. The indicator makes trading much less time consuming than traditional trading systems. Thus, you can spend less time in front of your computer and more time doing the things you enjoy. Just set the alerts and get a push notice or signal straight to your phone!
- No false signals. The Ultra Trend indicator is based on a filter technique to exclude low quality signals and avoid false trading alerts.
- High win-rate. The Ultra Trend indicator has achieved very high win-rates in the backtests performed over a historical period of 24 months.
Demo Snapshot - Ultra Trend
Demo snapshot of the Ultra Trend indicator displayed within a 1 D timeframe for the Gold spot price (XAUUSD).
How to use
1. Use on any instrument and timeframe (finetune Settings).
2. When ‘Buy’ signal is confirmed (Green triangle, up ▲) –> enter Long position.
3. When ‘Sell’ signal is confirmed (Red triangle, down ▼) –> exit Long position (or go Short).
4. Exit also when -> trade hits your profit target/limit or stop loss (determined by user).
IMPORTANT: Wait for candlestick close to ensure signal is a confirmed signal!
Exactly how the indicator is used varies from trader to trader. It can be used as a standard trading indicator in shorter timeframes, but also as a timing indicator for swing-trading strategies or long-term investments, where you get accurate and profitable entry and exit signals for all timeframes.
This indicator has been developed to work with regular bar candles, but we also recommend you to use it with Heikin Ashi candles to filter out as much noise as possible and as these often have an improved ability to capture high-quality trends.
If you are new to trading and/or technical analysis in general, we always recommend a demo account (“paper-trading”) until you become familiar with how to use the indicator.
When using the Alert function, use the “Once Per Bar Close” configuration and wait for bar close to confirm entry/exit signal. Ultra Trend is a non-repainting indicator (meaning that signals do not change or disappear after bar close).
All our indicators are developed for TradingView. For more info on adding an indicator to your charts and to adjust settings, go to: How it works
Settings
The default settings for the Ultra Trend indicator are optimized for use on all timeframes. If you use the indicator to trade very low or high timeframes, you may need to adjust the default settings a bit to optimize it for your trading style.
Each financial instrument has its own rhythm and oscillation, so if you want to optimize your trading results, you must learn to tweak the indicators to improve signal generation accuracy. You need to test different settings of the indicator as this will help you fine-tune the signals. Settings can sometimes be very personal, depending on your trading style and the timeframe used. Ultra Trend is developed to obtain the most optimal settings with minimal adjustment.
Different settings may apply to different instruments and also to different market periods. A more volatile market regime may require a different approach and strategy for the same instrument. You must try to find the best settings for your strategy or stick to the default settings (optimized by the TradingCanyon team).
Period – is the length of the momentum series. A lower value makes the indicator more sensitive to changes in price. You can play with the settings and adjust it for the instrument type you are trading. Usually, you don´t need to adjust the default settings (8), but try to increase/decrease the Period value just a few steps to optimize the signals.
Smoother – is the most important variable in the Ultra Trend algorithm and it is a multi-factor to sharpen the momentum calculation. Try to tweak and fine tune the settings so that you get accurate signals. We suggest you try settings between 1.5 to 3.0. A lower value makes the indicator more sensitive to price fluctuations (less smoothed signals).
Backtesting
Backtesting refers to applying a trading system to historical data in order to verify how a system would have performed during the specified time period and with the current data sample. Backtesting and optimizing provide many benefits to a trader, but this is only part of the process when creating a trading system or strategy. You also have to use forward testing and live trading.
Over the past 24 months, we have tested all our algorithms and indicators across a wide range of instruments and timeframes to ensure maximum and optimal performance. The results vary slightly, depending upon instrument type and timeframe used, but overall, the Ultra Trend indicator has a very high average success ratio on all instruments tested. We have also successfully performed forward testing when developing the algorithms, posting high win-rates. During the last 12 months, we have also used the indicators ourselves when trading live, and with great results.
The Ultra Trend indicator is an exceptional trading tool as it will generate fantastic trading signals for you! You can use the Free Trial to check it out.
FAQs
The TradingCanyon indicators are compatible with the TradingView platform.
Under the tab How it works you will find information on how to get started and how you add a TradingCanyon indicator to your chart in TradingView.
After signing up, it usually takes between an hour to a few hours to grant you access to the Invite-only scripts on TradingView.
It is a manual process done by us, and it depends somewhat on the number of inquiries/orders and the time of day. Typically during the day (CET, Central European Time), full access is granted much faster, and you will receive an email with additional instructions.
If you are missing delivery on your free trial or subscription order, please do not hesitate to contact us immediately at: [email protected]
Our algorithms were built in-house. We have extensive experience in trading and over the past 24 months have developed the algorithms by using Pine script coding (programming language at TradingView). All our indicators have passed through a vigorous back-testing process.
All our indicators generate very accurate trading signals and are used by many successful traders.
Trading in the financial markets can be challenging and they take time to learn, regardless of the high probability signals in your chart. Whether you succeed or not is entirely up to you. You will need to develop your own trading style and strategy.
By using the TradingCanyon indicators, you will increase your chances of success dramatically. Our indicators will generate very high probability signals. We have developed the indicators and trading signals to appear when there is most likely going to be a move in the market; the signals reveal when it is optimized to enter or exit a position.
If you’re new to trading and/or technical analysis in general, we recommend a demo account (“paper-trading”) until you become familiar with how it works.
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