Modified Flipit Indicator for Amibroker (AFL)
The basic concept of Flip it remains except that there are 3 Flipit and a SMA (40) added. The 1st Flipit has parameter of 20 based on the High and low of previous 20 bars, 2nd Flipit has parameter of 30 based on High and low of previous 20 bars and the 3rd Flipit has parameter of 50 based on High and low of previous 50 bars.
Rules for Buying:
Buy bar above SMAand all 3 flip it in respective colors
Add on Buy: If Add on buy above SMA but Flip it 20 is showing Red color, then it warrants for an Add on Buy.
Rules for Selling:
Sell bar below SMA and all 3 flip it in red color.
Add on Sell: If Add on Sell below SMA but Flip it 20 is showing respective buy color, then it warrants for an Add on Sell.
Submitted by sbtc555 over 4 years ago
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