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The Composite Index for Amibroker (AFL)

sherbaaz over 14 years ago 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,

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);

2 comments

2. sherbaaz
over 14 years ago

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

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