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Price Breakout Detection Exploration for Amibroker (AFL)

2 / 5 (Votes 24)

This is a very good formula developed by Rasheed to show horizontal support and resistance lines to detect price breakouts. The formula was then modified by NWTrader to add exploration for breakouts. I also made some minor modifications to the code to make it look better.

Here is a screenshot of how the indicator looks:
Breakouts

Similar Formulas

Formula

12 Comments

NW Trader is the author of a substantial part of this code (the exploration, backtest and chart display of buy and sell indicators). The original concept of the H1 and L1 levels is Rasheed’s. This code was posted here without prior permission of either author.

Before using this code, you should carefully read the following. Use of the code implies that you have read and accepted the following terms of use:

NW Trader retains a copyright for intellectual property he develops. Under no circumstances may another claim intellectual or exclusive ownership to NW Trader code, modified or unmodified. Use of this code is “as is” without warranty of any kind, either expressed or implied. In no event shall our judicial person be liable for any damages including, but not limited to, direct, indirect, special, incidental or consequential damages or other losses arising out of the use of or inability to use this code.

NW Trader grants a license to any individual to copy to and run this code for their own personal use on their computer. Snapshots of charts produced with this code may be reproduced in message boards. This personal license may not be further assigned, transferred or sub-licensed without the prior written consent of NW Trader. NW Trader reserves the right to change, modify or withdraw this license with no further notice.

Absent the prior written consent of NW Trader, no license is granted for commercial use of the code in any fashion, including (but not limited to) selling the code, the results of running the code, or redistributing the code or its results. This limitation further includes placing this code, modified or unmodified, on any diskette, CD, DVD, website, email, message board, commercial server or any other medium if offered for redistribution or resale.

Peace and Justice - Patrick, aka NW Trader

wonderful and very handy AFL..thanks lot. I like it.

very wonderful AFL thanks and we are waiting for more and more AFL

4. npcd_27

very good AFL

Nice AFL. I was searching for this type of AFL.

6. Ravi

WOW! What an AFL
Thx a Lot.
Brgds
Ravi

very useful AFL

8. kcpalw

how to use any indicator. Can be explain any for me.
Thanks

Ok i just joined this site..i made an account for downloading the formulas , ive downloaded them but they are not working at all , i can’t figure it out that why Admin of this site wants to give only formulas , Not any Mq4 file or ex4 file…why the hell hes doing it, plus formulas not working at all..

Mq4 and ex4 have nothing to do with Amibroker at all.

All you need is the formula in plain text to be able to paste it into the Amibroker formula editor which you can get via the "Copy & Paste Friendly’ link.

11. bacho

Mantab, goods for explorer.

thanks

12. Tarique

Very nice indicator thanks

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