TREND VISION for Amibroker (AFL)
Histogram based indicator. Rules….
1.colorblue stick on upside — uptrend
2.colorteal stick on upside — uptrend is weak
3.colorred signal on down side — downtrend.
4.colorred signal on upside — uptrend may reverse
5.colorblue stick on downside — uptrend may resume soon.
6.colorteal signal downside — downtrend is weakening.
7.increasing blue sticks on upside — strengthy uptrend.
8.increasing red sticks on down side — strengthy downtrend.
9.check the higher highs of blue sticks and red sticks for overall strength of trend.
10. plum star is only a guide for start of uptrend. judge with other indicators you have.
The ratio of difference of highs and lows with defined pivots is taken. Also, the
sum of positive and negative volumes (sum of volumes on green candles and red candles)
is taken for drawing the histogram.
Hope you like the indicator. Please comment and rate my work.
Submitted by chatpurpose 4 months ago
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