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TREND-QUALITY INDICATOR for Amibroker (AFL)
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I found it in the internet. I am not the author. Thanks This Indicator attempts to estimate the trend in relation to noise. LISTING 1 // Piecewise EMA is an EMA that restarts calculations each time // the 'sincebar' argument is true function PiecewiseEMA( array, range, sincebar ) { factor = IIf( sincebar, 1, 2/(range+1) ); return AMA2( array, factor, 1-factor ); } // parameters m=4; n=250; // generate reversal signals based on EMA crossover rule Lpf1 = EMA( C, 7 ); Lpf2 = EMA( C, 15 ); CrossPoint = Cross( Lpf1, Lpf2 ) OR Cross( Lpf2, Lpf1 ); Periods = BarsSince( CrossPoint ); // variable bar sum DC = Close - Ref( Close, -1 ); CPC = Sum( DC, Periods ); // smooth CPC by piecewise 4 bar EMA Trend = PiecewiseEMA( CPC, 4, CrossPoint ); // noise DT = CPC - Trend; Noise = 2 * sqrt( MA( DT^2, n ) ); // alternative 'linear' noise calculation // Noise = 2 * MA( abs( DT ), n ) ); QIndicator = Trend/Noise; Plot(sign(Lpf1-Lpf2), "Rev", colorRed ); Plot( Qindicator, "Qindicator", colorGreen, styleHistogram); PlotGrid( -1 ); PlotGrid( 1 ); PlotGrid( 2 ); PlotGrid( -2 ); PlotGrid( 5 ); PlotGrid( 5);