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JK Base Line for Amibroker (AFL)
Rating:
3 / 5 (Votes 2)
Tags:
oscillator, amibroker
The second in a set of three indicators; JK Fast, JK Base Line and JK Slow. Developed by Jeffrey Kennedy to help identify the waves in an Elliott Wave count they prove an excellent tool in depicting the direction and strength of a trend, is it impulsive or corrective. They prove useful on monthly, weekly and daily charts. All three indicators being displayed for each time frame separately. Reference to this indicator can be found at http://www.elliottwave.com/freeupdates/archives/2009/12/22/A-Trend-Analyzing-Tool-Reveals-If-Commodity-Strength-Will-Continue.aspx
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Indicator / Formula
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_SECTION_BEGIN(" JFK Base Line");
EH= EMA(H,5);
EC= EMA(C,5);
EL= EMA(L,5);
R = ((HHV(EMA(C,5),5) - EMA(C,5)) /(HHV (EMA(C,5),5) -LLV (EMA(C,5),5))) *-100;
R1 = ((HHV(EMA(C,5),10) - EMA(C,5)) /(HHV (EMA(C,5),10) -LLV (EMA(C,5),10))) *-100;
R2 = ((HHV(EMA(C,5),15) - EMA(C,5)) /(HHV (EMA(C,5),15) -LLV (EMA(C,5),15))) *-100;
Plot(R, "Williams %R", colorPaleBlue, styleThick);
Plot(R1, "Williams %R", colorBlue, styleThick);
Plot(R2, "Williams %R", colorDarkBlue, styleThick);
_SECTION_END();0 comments
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