Alpha Confirmation Suite Overview
Confirmations can be one of the most important aspects of a good entry or exit
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Confirmations can be one of the most important aspects of a good entry or exit
Last updated
Was this helpful?
Our indictor suites at Trading Alpha are designed to be used in conjunction with "Confirmation" from either the next price action candles or from other indicators. The Confirmation Suite is our group of indicators that we use in order to confirm setups in both the Alpha Trend & HTF/LTF Suites. In trading the main objective is to stack as many probabilities in your favor as you can. Using Confirmation does just that - it increases the probability that the setup found in the Alpha Trend or HTF/LTF will play out in your favor. The more confirmations we get on various indicators the better we should feel about the trade setups we have identified. There are three indicators included in the Confirmation Suite to aid in confirmations : The Alpha Thrust, The Alpha RSI, and the Alpha Support & Resistance! Lets go over them!
The Alpha Thrust is our way of determining if there is institutional interest. It can show when large whales or institutions are buying or selling. It is known in trading that you want to trade with the trend. A lot of times trading with the trend can also be akin to trading in unison with the large hands as they direct movement. This makes the Alpha Thrust an excellent indicator for confirmations.
The Alpha RSI is a rendition we have done on the classic RSI indicator. We use RSI and the extra features we have included to read RSI in order to give us confirmations on our setups. These extra features are RSI momentum and RSI divergences.
Support & Resistance is where you measure supply and demand. These areas can be extremely informative as price action will often have a hard time at these junctures. Because of this we use support & resistance lines to help give us an idea of a setups risk vs reward. The Alpha support and resistance indicator dynamically generates support and resistance lines compared to the tedious process of drawing these lines manually.
You can watch our video tutorial of the Confirmation Suite on YouTube as well for visual guidance. Best to watch and read both our tutorials. Please give us a follow on our YouTube channel to stay up to date with us!