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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
//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