Advanced Elliott Waves for Amibroker (AFL)
MarcosEn over 14 years ago Amibroker (AFL)
There are scarcity of good Elliott Waves formulas for Amibroker. Elliott Wave studies are more rich in Metastock and Advanced Get. Still studies are goin on to make good Elliott Waves formulas for Amibroker. Check one Elliott Waves formula for Amibroker. The following formula is free to use or distribute. But any commercial use of the same will require written permission from the author. Only one thing to remember is wait till signaled bar completes and then take trade decision (ofcourse use other indicator to confirm, which suites your style for confirmation).
Source: http://www.blog.stockmaniacs.net/search/label/Elliott%20Waves
Indicator / Formula
_SECTION_BEGIN("Advanced Elliot Wave ");
//Elliot Wave Metastock to AFL
//-- Script Start -------
_N(Title = "{{NAME}} - {{INTERVAL}} {{DATE}}: "+_DEFAULT_NAME()+" : {{VALUES}} "
);
Option = ParamToggle("Insert To", "Price Chart|Indicator");
pr=Param("Elliot Wave minimum % move",0.5, 0.25,3,0.25);
//{ Beginner Elliot Wave stuff }
EWpk=PeakBars(H,pr)==0;
EWtr=TroughBars(L,pr)==0;
//{ Intermediate Elliot Wave stuff }
zz=Zig(C,pr);
zzHi=Zig(H,pr);
zzLo=Zig(L,pr);
Avg=(zzHi+zzLo)/2;
//{ Advanced Elliot Wave stuff }
RetroSuccessSecret=IIf(EWpk,zzHi,
IIf(EWtr,zzLo,IIf(Avg>Ref(Avg,-1),H,L)));
EW=Zig(RetroSuccessSecret,pr);
//{ Plot on price chart }
if (Option==0)
Plot(EW, "EW", ParamColor("Color", colorBrown), ParamStyle("Style", styleNoLabel|styleThick));
else
{
//{ Plot on own window }
Plot(EWbuy-EWsell, "EW2", ParamColor("Color", colorRed), ParamStyle("Style", styleNoLabel|styleThick));
}
//{ Buy/Sell Elliot Wave stuff }
EWbuy=TroughBars(EW,pr)==1;
EWsell=PeakBars(EW,pr)==1;
Plot(C,"",47,128+4);
PlotShapes(EWbuy*shapeUpArrow,5,0,L,-5);
PlotShapes(EWsell*shapeDownArrow,4,0,H,-5);
//-- Script End -------
_SECTION_END();
5 comments
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“Zig” looks in the future
This is just a zig-zag. There is no Elliott Wave analysis in this code.
This is just a postmortem indicator. Simply a waste of time. Contribute good afls instead of making cosmetic changes to old, useless future looking afls.
This is waste of time…!
True just a zig zag