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Intraday Profit generator using RSI and ADX for Amibroker (AFL)
Rating:
3 / 5 (Votes 3)
Tags:
rsi, adx, oscillator, trading system, amibroker
This strategy uses RSI and ADX combination to find Buy/Sell opportunities. As a general rule, when RSI crosses an upper limit it indicates a Sell signal, while if it crosses lower limit it indicates Buy signal. But in this strategy, we are going to do the opposite i.e. Buy when RSI crosses upper limit and Sell when RSI crosses lower limit. ADX would be used as a trend identifier while taking Buy/Sell decisions. All the positions would be squared off at the end of day.
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Indicator / Formula
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//------------------------------------------------------
//
// Formula Name: Nifty Intraday Strategy using RSI and ADX
// Author/Uploader: Trading Tuitions
// E-mail: support@tradingtuitions.com
// Website: www.tradingtuitions.com
//------------------------------------------------------
_SECTION_BEGIN("Nifty Intraday Strategy");
SetTradeDelays( 1, 1, 1, 1 );
SetOption( "InitialEquity", 200000);
SetOption("FuturesMode" ,True);
SetOption("MinShares",1);
SetOption("CommissionMode",2);
SetOption("CommissionAmount",50);
SetOption("AccountMargin",10);
SetOption("RefreshWhenCompleted",True);
SetPositionSize(150,spsShares); //Use this for fixed position size
//SetPositionSize(80,spsPercentOfEquity); //Use this for position size as a percent of Equity
SetOption( "AllowPositionShrinking", True );
BuyPrice=Open;
SellPrice=Open;
ShortPrice=Open;
CoverPrice=Open;
SetChartOptions(0,chartShowArrows|chartShowDates);
_N(Title = StrFormat("{{NAME}} - {{INTERVAL}} {{DATE}} Open %g, Hi %g, Lo %g, Close %g (%.1f%%) {{VALUES}}", O, H, L, C ));
Plot( Close, "Price", colorWhite, styleCandle );
RSIPeriods=17;
ADXPeriods=14;
Buy=RSI(RSIPeriods)>=75 AND ADX(ADXPeriods)>25;
Short=RSI(RSIPeriods)<=25 AND ADX(ADXPeriods)>25 ;
Buy=ExRem(Buy,Short);
Short=ExRem(Short,Buy);
Sell=Short OR TimeNum()==151500;
Cover=Buy OR TimeNum()==151500;
StopLoss=0.5;
ApplyStop(Type=0,Mode=1,Amount=StopLoss);
Plot( RSI(RSIPeriods), "RSI", color=colorBlue, ParamStyle( "Style", styleOwnScale) );
Plot( ADX(ADXPeriods), "ADX", color=colorRed, ParamStyle( "Style", styleOwnScale) );
/* Plot Buy and Sell Signal Arrows */
PlotShapes(IIf(Buy, shapeSquare, shapeNone),colorGreen, 0, L, Offset=-40);
PlotShapes(IIf(Buy, shapeSquare, shapeNone),colorLime, 0,L, Offset=-50);
PlotShapes(IIf(Buy, shapeUpArrow, shapeNone),colorWhite, 0,L, Offset=-45);
PlotShapes(IIf(Cover, shapeSquare, shapeNone),colorGreen, 0, L, Offset=-40);
PlotShapes(IIf(Cover, shapeSquare, shapeNone),colorLime, 0,L, Offset=-50);
PlotShapes(IIf(Cover, shapeUpArrow, shapeNone),colorWhite, 0,L, Offset=-45);
PlotShapes(IIf(Sell, shapeSquare, shapeNone),colorRed, 0, H, Offset=40);
PlotShapes(IIf(Sell, shapeSquare, shapeNone),colorOrange, 0,H, Offset=50);
PlotShapes(IIf(Sell, shapeDownArrow, shapeNone),colorWhite, 0,H, Offset=-45);
PlotShapes(IIf(Short, shapeSquare, shapeNone),colorRed, 0, H, Offset=40);
PlotShapes(IIf(Short, shapeSquare, shapeNone),colorOrange, 0,H, Offset=50);
PlotShapes(IIf(Short, shapeDownArrow, shapeNone),colorWhite, 0,H, Offset=-45);
_SECTION_END();1 comments
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