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Vedanta (Slow but confirmed Signal) for Amibroker (AFL)
Rating:
2 / 5 (Votes 7)
Tags:
oscillator, amibroker
Here is arithmetic formula where over bough and over sold conditions are shown with 6 or -6 i.e. normally this indicator moves in this range. It is a slow indicator but it gives confirmed signals. No false positive or false negative ….
it is combination of RSI + CCI + ROC ploted with Stochestic
ATR is also helping to give specific direction without consideration of minor volatality (market noise )
so we dont get signls unles all of these indicators give same signal
- Abhimanyu
Screenshots
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8 comments
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getting problems while posting image with code
how to trade using this signal
can any one exp[lain it
What would be your confirmed entry exit signals?
You are producing signals but how good are they? Have you backtested? Simply combining indicators may or may not produce a good trading system especially when all are of the same type.
I Have produced it now user need to test or backteste and decide if it si Good bad or ugly ? it’s user’s decision.
I am not able to post my image here else it could have given more idea.
Combination of similar signal… no no no ? Well… i don’t think that individually ROC CCI RSI Stochastic can give same signal at same time or same direction at same time. they have some difference else any one of these three could have replaced other to indicators !! isn’t it ?
Also there is one puzzle in this code …. some one can solve it. which will produce a effective indicator. something has left over here to think about.
but at this moment this works fine.
http://postimage.org/image/xoa2j138/ will show indicator with price
Combining unrelated indicators can be beneficial. However, combining indicators of the same type (momentum indicators in this case) has not been shown to be particulaly beneficial. But if it works for you that’s great.
Can u add buy n sell in it so that we can scan n backtest
hi friends,
can anybody throw somelight on how to take trades, what is the bias….??