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Cumulative TICK Histogram for Amibroker (AFL)

buchacek over 14 years ago 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.

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);

2 comments

1. suhail
over 14 years ago

Thank you
Can you please show how to adjust the code for different time frames

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2. buchacek
over 14 years ago

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:

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