Air Bag for Amibroker (AFL)

RAJESH D.

over 14 years ago

Amibroker (AFL)

Very useful for one Minute chart Inra-Nick Protection “Air Bag”
“Each time frame breaks down to approximately one-fifth of the next higher time frame AND approximately five times the next lower time frame. We place the air bag one tick above/below the High/Low of the Second bar back on one significantly higher time frame (OR the next bar further back that has both a higher High AND a higher Low OR a lower High AND a lower Low).This is our air bag protection. Its purpose is to protect us against a drunken market that is moving against us. Remember, it is NOT necessarily an entry Signal; it is protection against major losses. if your air bag is a High, it is telling you that you do NOT want to be Short if the market reaches that number. If your air bag is a Low, it is telling you that you do NOT want to be long if the market goes down to that number.

Screenshots

Indicator / Formula

_SECTION_BEGIN("AirBag");

AB1=IIf(Ref(H,-1)>H,((Ref(H,-1)-H)/5)+H,(H-Ref(H,-1))/5+H);
AB2=IIf(Ref(L,-1)>L,((Ref(L,-1)-L)/5)+L,(L-Ref(L,-1))/5+L);

Plot (AB1,"AB1", colorGreen);
Plot (AB2,"AB2", colorAqua);

PlotOHLC(O,H,L,C,"Airbag",colorRed, styleCandle );
Title = Name() +" ("+ FullName()+ ")  - "+" O="+O+", H="+H+", L="+L+",
C="+C+"\nDate:"+Date() +"\n AB1="+Ab1+"\n AB2="+Ab2+"\n
Volume="+Volume/10+"\n";
_SECTION_END();

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