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Cumulative TICK Histogram for Amibroker (AFL)
Rating:
3 / 5 (Votes 2)
Tags:
oscillator, amibroker
Showing the strength or weakness in the market. Periods must be adjusted for different time-frames. This one is for 5 min. Instead of histogram a moving average can be constructed which serves a different purpose and is indicating the strength or weakness far better and oversold and overbought conditions as well.
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Indicator / Formula
Copy & Paste Friendly
_SECTION_BEGIN("ACT AdjCmTick");
SetForeign("TICK.Z", True, True );
Price=(H+L+C)/3;
MALeng=1560;
Avg=MA(Price,MALeng);
Total=Price-Avg;
AdjTick=Price + Total;
CMTColor = IIf(AdjTick < -700,colorRed,IIf(AdjTick > 700,colorLime,ParamColor("Color", colorBlack )));
Plot(AdjTick,"{TICK.Z} CM Tick Histogram",CMTColor,2|styleThick);
_SECTION_END();
Plot(1400,"",colorRed,styleDots | styleNoLabel);
Plot(-1400,"",colorRed,styleDots | styleNoLabel);
PlotOHLC(1100, 1100, 1400, 1400, "", 6, styleCloud |styleNoLabel);
PlotOHLC(-1100, -1100, -1400, -1400, "", 6, styleCloud |styleNoLabel);
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Thank you
Can you please show how to adjust the code for different time frames
Adjust MALeng in the formula according to your needs to 20 Days.
1500 is 20 days on 5 min chart. 7800 is 20 days on 1 min chart etc…
If you want to make a moving average which is far better than Histogram then use this code: