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Stochastic candles for Amibroker (AFL)

3 / 5 (Votes 2)

This indicator is a normalized price representation made with candlesticks. The dynamic scale between 0 and 100% is calculated upon the last X periods (50 periods in the code, you can change it at will). It can be used to detect price exhaustion in a trend of continuation if the candlesticks remains above the 50% level.

Here is a screenshot of how the indicator looks:
12

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1 Comments

1. morgen

Interesting, thank you.

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