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Pin Bar Marker for Amibroker (AFL)
Rating:
5 / 5 (Votes 3)
Tags:
amibroker, ribbon
Small code to mark Bullish & Bearish Pin bar as Ribbon
This is small piece of code to identify bullish & bearish pin bars. This code will not mark bars nor plot price, instead it will create small ribbon on any price chart ( Assuming you are not using any ribbons in your plot)
Pin bars are marked considering following points
1) Length of BAR – Used ATR
2) Volume
3) Body size
Indicator / Formula
Copy & Paste Friendly
Plot( 1, "Ribbon",IIf( O > (L + 0.6 * (H-L)) AND C > (L + 0.6 * (H-L))AND (ATR(1) > ATR(10)) AND V > 1.2 * (MA(V,10)),colorGreen,IIf(O < (L + 0.4 * (H-L)) AND C < (L + 0.4 * (H-L)) AND (ATR(1) > ATR(10))AND V > 1.2 * (MA(V,10)),colorRed,colorBlack)),styleOwnScale|styleArea|styleNoLabel, -0.5, 100 );
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