Lately I've been working on a lot of alternate picking exercises with my guitar students here in Vancouver. This is an old exercise I create way back in 2010 and kinda forgot about it for years.
It's based on the Batman theme song, though it's not quite the same thing. (The original batman thing song you would have to hold the root below the moving notes at the same time and play them both. Plus you would play the whole thing as downstrokes.) We're not going to do that here as we want to practice our alternate picking.
It's also a great left-hand workout as you must use your fingers in consecutive order going up and down.
Notice that the exercise follows the 12-bar blues form. Indeed, the Batman song is just a 12 bar blues with a cool riff. If you want a print-out of this exercise you can download a PDF of it using the link below.
If you're interested in taking guitar lessons here in Vancouver give me a shout.