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WiseTrader Toolbox
#1 Selling Amibroker Plugin featuring:
520 Intraday Trading System for Amibroker (AFL)
This system works better on 5 Minute Chart. When RSI start rising below from 30 & buy signal occurs, Go Long with a stop loss of recent low. When RSI start downward below from 70 & sell signal occurs, Go Short with a stop loss of recent High.
Similar Indicators / Formulas
Indicator / Formula
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 | //Go Short/Long on Cross over with Stop loss of recent High/Low on 5 Minute Chart _SECTION_BEGIN ( "Background_Setting" ); SetChartBkGradientFill ( ParamColor ( "BgTop" , colorBlack ), ParamColor ( "BgBottom" , colorBlack ), ParamColor ( "titleblock" , colorWhite )); _SECTION_END (); _SECTION_BEGIN ( "520 cross" ); SetChartOptions (0, chartShowArrows | chartShowDates ); Plot ( Close , "Price" , colorWhite , styleCandle ); Plot ( EMA ( Close ,5), "5EMA" , colorGreen ,style= styleThick ); Plot ( EMA ( Close ,20), "20EMA" , colorRed ,style= styleThick ); Buy = Cross ( EMA ( Close ,5), EMA ( Close ,20)); Sell = Cross ( EMA ( Close ,20), EMA ( Close ,5)); Short = Sell ; Cover = Buy ; shape = Buy * shapeSmallUpTriangle + Sell * shapeSmallDownTriangle ; PlotShapes ( shape, IIf ( Buy , colorGreen , colorRed ), 0, IIf ( Buy , Low , High ) ); _SECTION_END (); _SECTION_BEGIN ( "Ribbon" ); no= Param ( "Swing" , 10, 1, 55 ); res= HHV ( H ,no); sup= LLV ( L ,no); avd= IIf ( C > Ref (res,-1),1, IIf ( C < Ref (sup,-1),-1,0)); avn= ValueWhen (avd!=0,avd,1); tsl= IIf (avn==1,sup,res); Plot ( 2, "Ribbon" , IIf ( C >tsl, colorGreen , colorRed ), styleOwnScale | styleArea | styleNoLabel , -0.5, 100 ); _SECTION_END (); |
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It will work better in trend market. Avoid using it in side way market.
What will be rsi settings?
THANK YOU SIR FOR SHARING
PRASAD