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WiseTrader Toolbox
#1 Selling Amibroker Plugin featuring:
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The Composite Index for Amibroker (AFL)
Rating:
3 / 5 (Votes 3)
Tags:
oscillator, amibroker
An excellent indicator to detect high probability trading divergence when RSI fail to detect the divergences, it detect the divergence which are highly profitable.
Regards,
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Indicator / Formula
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A = RSI( 14)-Ref( RSI (14),-9)+ MA(RSI(3),3); Plot1 = MA(A, 13); Plot2 = MA(A,33); Plot( A, "The Composite Index", colorRed, styleThick); Plot( Plot1, "", colorGreen); Plot( Plot2, "", colorLightBlue); PlotGrid(0, colorLightGrey);
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pls, how to use the afl ???
As mentioned in the post. it works best when there is a div between price and the composite index but RSI has no divergence.
regds