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#1 Selling Amibroker Plugin featuring:
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ALT for Amibroker (AFL)
Rating:
3 / 5 (Votes 3)
Tags:
trendline, amibroker
Its useful to understand price pattern..
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Indicator / Formula
Copy & Paste Friendly
_SECTION_BEGIN("ATL");
x = Cum(1);
perchg = 0.3*LastValue( Highest( ROC( Low, 50 ) ));
startvalue = LastValue( Trough( Low, perchg, 1 ) );
endvalue1 = LastValue( Trough( Low, perchg, 2 ) );
startbar = LastValue( ValueWhen( Low == startvalue, x, 1 ) );
endbar = LastValue( ValueWhen( Low == endvalue1, x, 1 ) );
Aa = (endvalue1-startvalue)/(endbar-startbar);
b = startvalue;
trendline = Aa * ( x - startbar ) + b;
Plot( Close, "Price", colorBlue, styleCandle );
Plot( IIf( x >= endbar, trendline, Null ), "Trendline", colorRed );
_SECTION_END();1 comments
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This AFL is similar to Automatic Trend Line (ATL) submited by the Administrator some time ago. Good formula, but nothing new.