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trend and sideways indicator for Amibroker (AFL)
Rating:
3 / 5 (Votes 2)
Tags:
oscillator, amibroker
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
Screenshots
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Indicator / Formula
Copy & Paste Friendly
_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();
2 comments
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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.