trend and sideways indicator for Amibroker (AFL)
drbsrini over 15 years ago Amibroker (AFL)
The window displaying green and red vertical bars indicate up and down stock trends respectively. The same window, when neither green or red bars are present, indicate a trading range.This is originally from the scientifictrader.com
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Indicator / Formula
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_SECTION_BEGIN("TREND");
Aup=40;//40
Adown=60;//60
up=BarsSince(RSI(9)>70);
down=BarsSince(RSI(9)<30);
Graph0=IIf(up<down,1,-1);
Graph0Style=2;
Graph0BarColor=IIf( up<down AND LLV(RSI(9),up)>Aup ,5,IIf(down<up AND HHV(RSI(9),down)<Adown,4,0));
Graph1=1.1;
Graph1Color=0;
Graph2=-1.1;
Graph2Color=0;
_SECTION_END();
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This indicator is absolutely horrible at determining trend.
hi, thanks. wonderful one. will it be possible to merge in price chart with buy sell arrow, that will be great.