WiseStockTrader.com Trading Program Listings
Indicators
Submit New Indicator
All Amibroker (AFL) Metastock eSignal (EFS) NinjaTrader
Function Index
Paste Bin
Register
Login

Stock Portfolio Organizer

The ultimate porfolio management solution.

Shares, Margin, CFD's, Futures and Forex
EOD and Realtime
Dividends and Trust Distributions
And Much More ....
For Portfolio Manager Click Here

WiseTrader Toolbox

#1 Selling Amibroker Plugin featuring:

Advanced Adaptive Indicators
Advanced Pattern Exploration
Neural Networks
And Much More ....
Find Out More Here

Tim Ord Trading System Indicator for Amibroker (AFL)
imaxhighsky
over 12 years ago
Amibroker (AFL)

Rating:
4 / 5 (Votes 9)
Tags:
tim ord, amibroker, volume

I searched and tried all indicators around for implementing Tim Ord methods but was completely disappointed so I write one by myself. It is my first coded indicator so please report any malfunction or improvement it may have (imaxhighsky@gmail.com).

To fully understand the system you will need to read Tim Ord’s book but basically this indicator measures the average volume in each swing leg and compares it to the previous legs. It does the same for tops and bottoms. Once a decrease of 9% or more of volume the number will be highlighted for easy of spot.

Here is a screen shot of how does it looks :

Screenshots

Similar Indicators / Formulas

Rahul Mohindar Oscillator (RMO)
Submitted by kaiji almost 15 years ago
Automatic Trend-line
Submitted by kaiji almost 15 years ago
Heikin Ashi
Submitted by kaiji almost 15 years ago
Deel - Average Dollar Price Volatility
Submitted by kaiji almost 15 years ago
Deel - Momentum Filter
Submitted by kaiji almost 15 years ago
Hull Moving Average (HMA)
Submitted by kaiji almost 15 years ago

Indicator / Formula

Indicator
Copy & Paste Friendly
_SECTION_BEGIN("Ord Volume");

ZigPercent = 		Param( 		"Percent of Change for Zig", 4.6, 0, 50, 0.1 );
ZigUpColor = 		ParamColor( 	"Up Color", colorDarkBlue );
ZigDownColor = 	ParamColor( 	"Down Color", colorViolet );
ZerRedVol = 		Param( 		"Zeros to Reduce from Volume", 3, 0, 8, 1 );
SwingXoffset = 		Param( 		"Swing X Position", 3, -10, 30, 1 );
SwingYoffset = 		Param( 		"Swing Y Position", 1, 0, 30, 0.2 );
Color_LVT = 		ParamColor( 	"Leg Volume Text Color", colorWhite );
Color_LPTS =		ParamColor( 	"Leg % Text Color Simple", colorGrey50 );
Color_LPTH =		ParamColor( 	"Leg % Text Color Highlighted", colorBlack );
Color_LPBH = 		ParamColor( 	"Leg % Background Highlighted", colorYellow );
LegYoffset = 		Param( 		"Leg Y Position", 1.5, 0, 10, 0.1 );

RedVol =				IIf( ZerRedVol == 0, 1, 
						IIf( ZerRedVol == 1, 10,
						IIf( ZerRedVol == 2, 100,
						IIf( ZerRedVol == 3, 1000,
						IIf( ZerRedVol == 4, 10000,
						IIf( ZerRedVol == 5, 100000,
						IIf( ZerRedVol == 6, 1000000,
						IIf( ZerRedVol == 7, 10000000,
						IIf( ZerRedVol == 8, 100000000,
						Null )))))))));

SimpleZigzag = 			Zig( C, ZigPercent );
HoL = 					IIf( SimpleZigzag > Ref(SimpleZigzag,-1), H, L );
bc = 					BarCount - 1 ;

MyZig = 				Zig( HoL, ZigPercent );
MyZig_Up = 			MyZig > Ref( MyZig, -1);
MyZig_Down = 			MyZig < Ref( MyZig, -1);
LastLegMid_Y_Point = 	IIf( MyZig_Down, 	Peak( HoL, ZigPercent ) - ( (Peak( HoL, ZigPercent ) - L) / 2 ) ,
											H - ( (H - Trough( HoL, ZigPercent )) / 2 ) );

PeakDef = 			( MyZig > Ref(MyZig,-1) ) AND ( MyZig > Ref(MyZig,1) );
Peak1Vol = 			ValueWhen( PeakDef, V,1 );	
Peak2Vol = 			ValueWhen( PeakDef, V,2 );
PeaksVolPerc = 		( 100 * ( Peak1Vol - Peak2Vol ) / Peak2Vol );

TrouDef = 			( MyZig < Ref(MyZig,-1) ) AND ( MyZig < Ref(MyZig,1) );
Trou1Vol = 			ValueWhen( TrouDef, V, 1 );
Trou2Vol = 			ValueWhen( TrouDef, V, 2 );
TrousVolPerc = 		( 100 * ( Trou1Vol - Trou2Vol ) / Trou2Vol ); 

LastBarVolPerc = 	IIf(		MyZig_Up,
							( 100 * ( V - Peak1Vol ) / Peak1Vol ),
							( 100 * ( V - Trou1Vol ) / Trou1Vol ) );

P1 		=		PeakBars		(HoL, ZigPercent, 	1)			;
T1		=		TroughBars	(HoL, ZigPercent, 	1)			;
P2		=		PeakBars		(HoL, ZigPercent,	2)			;
T2		=		TroughBars	(HoL, ZigPercent, 	2)			;
P1m1	=		PeakBars		(HoL, ZigPercent, 	1)	+1		;
T1m1	=		TroughBars	(HoL, ZigPercent, 	1)	+1		;
P2m1	=		PeakBars		(HoL, ZigPercent, 	2)	+1		;
T2m1	=		TroughBars	(HoL, ZigPercent, 	2)	+1		;

	/* Last Leg */
LastLegBars = 			IIf( MyZig_Down,		P1m1 , 									T1m1 );
LastLegVolAccum = 		IIf( MyZig_Down, 		Sum( V, P1m1 ) ,						Sum( V, T1m1) );
LastLegVolAVE = 		LastLegVolAccum / LastLegBars 									;

	/* Previous Leg */
PrevLegBars = 			IIf( MyZig_Down, 		(T2m1) - P1 , 							(P2m1) - T1 );
PrevLegVolAccum = 		IIf( MyZig_Down, 		Sum( V, (T2m1)) - Sum( V, P1 ) ,		Sum( V, (P2m1)) - Sum( V, T1 ) );
PrevLegVolAVE =		PrevLegVolAccum 					/ PrevLegBars 				;
VolAVEChange1 = 		(LastLegVolAVE - PrevLegVolAVE) 	/ PrevLegVolAVE 	* 100	;

PrevLegBarsInc = 		IIf( MyZig_Down, 		(T1m1) - P1 , 							(P1m1) - T1 );
PrevLegVolAccumInc =	IIf( MyZig_Down, 		Sum( V, (T1m1)) - Sum( V, P1 ) ,		Sum( V, (P1m1)) - Sum( V, T1 ) );
PrevLegVolAVEInc =		PrevLegVolAccumInc 				/ PrevLegBarsInc			;
VolAVEChange1Inc = 	(LastLegVolAVE - PrevLegVolAVEInc) / PrevLegVolAVEInc 	* 100	;

	/* Previous Previous Leg */
PrPrLegBars = 			IIf( MyZig_Down, 		(P2m1) - T2 ,							(T2m1) - P2 );
PrPrLegVolAccum = 		IIf( MyZig_Down, 		Sum( V, (P2m1)) - Sum( V, T2 ) ,		Sum( V, (T2m1)) - Sum( V, P2 ) );
PrPrLegVolAVE = 		PrPrLegVolAccum 					/ PrPrLegBars 				;
VolAVEChange2 = 		(LastLegVolAVE - PrPrLegVolAVE) 	/ PrPrLegVolAVE 	* 100 	;

PrPrLegBarsInc = 		IIf( MyZig_Down, 		(P2m1) - T1 ,							(T2m1) - P1 );
PrPrLegVolAccumInc = 	IIf( MyZig_Down, 		Sum( V, (P2m1)) - Sum( V, T1 ) ,  		Sum( V, (T2m1)) - Sum( V, P1 ) );
PrPrLegVolAVEInc = 	PrPrLegVolAccumInc 				/ PrPrLegBarsInc 			;
VolAVEChange2Inc = 	(LastLegVolAVE - PrPrLegVolAVEInc) 	/ PrPrLegVolAVEInc 	* 100 	;


IIf( BarCount == LastValue( BarCount ), 				/////////// Incomplete Leg	 ---------=======
  		PlotText( "" + NumToStr( LastLegVolAVE[bc]/RedVol, 1.0),  
																	BarCount - (LastLegBars[bc]/2) , 
																	LastLegMid_Y_Point[bc], 
																	colorYellow ),
Null );
IIf( BarCount == LastValue( BarCount ), 				
  		PlotText( "" + NumToStr( VolAVEChange1Inc[bc], 1.0) + "%", 
																	BarCount - (LastLegBars[bc]/2) , 
																	LastLegMid_Y_Point[bc] * ( 1 - (LegYoffset/100) ),
																	IIf( VolAVEChange1Inc[bc] <= -40, Color_LPTH, Color_LPTS ),
																	IIf( VolAVEChange1Inc[bc] <= -40, Color_LPBH, Null ) ),
Null );
IIf( BarCount == LastValue( BarCount ), 				
  		PlotText( "" + NumToStr( VolAVEChange2Inc[bc], 1.0) + "%", 
																	BarCount - (LastLegBars[bc]/2) , 
																	LastLegMid_Y_Point[bc] * ( 1 - (2*LegYoffset/100) ),
																	IIf( VolAVEChange2Inc[bc] <= -40, Color_LPTH, Color_LPTS ),
																	IIf( VolAVEChange2Inc[bc] <= -40, Color_LPBH, Null ) ),
Null );
IIf( BarCount == LastValue( BarCount ), 
		PlotText( NumToStr( LastBarVolPerc[bc], 1.0 ) + "%",
																	BarCount, 
																	IIf( MyZig_Up[bc], 	H[bc]*(1+(SwingYoffset/100)), 
																						L[bc]*(1-(SwingYoffset/100)) ),
																	IIf( LastBarVolPerc[bc] <= -8, colorWhite, colorGrey50 ),
																	IIf( LastBarVolPerc[bc] <= -8, colorRed, Null ) ),
Null );

for( i = 0; i < BarCount; i++ )							/////////// Legs	 ---------=================
{								
	if( PeakDef[i] OR TrouDef[i] )	
			PlotText( "" + NumToStr( LastLegVolAVE[i]/RedVol, 1.0) + "  ",
																i - (LastLegBars[i]/2),		
																LastLegMid_Y_Point[i],
																Color_LVT
	);	
	if( PeakDef[i] OR TrouDef[i] )	
			PlotText( "" + NumToStr( VolAVEChange1[i], 1.0) + "%",
																i - (LastLegBars[i]/2),		
																LastLegMid_Y_Point[i] * ( 1 - (LegYoffset/100) ),
																IIf( VolAVEChange1[i] <= -40, Color_LPTH, Color_LPTS ),
																IIf( VolAVEChange1[i] <= -40, Color_LPBH, Null ) 
	);	
	if( PeakDef[i] OR TrouDef[i] )	
			PlotText( "" + NumToStr( VolAVEChange2[i], 1.0) + "%",
																i - (LastLegBars[i]/2),		
																LastLegMid_Y_Point[i] * ( 1 - (2*LegYoffset/100) ),
																IIf( VolAVEChange2[i] <= -40, Color_LPTH, Color_LPTS ),
																IIf( VolAVEChange2[i] <= -40, Color_LPBH, Null ) 
	);	
}

for( i = 0; i < BarCount; i++ )							/////////// Swings ---------=================
{
	if( PeakDef[i] )	PlotText( NumToStr( PeaksVolPerc[i], 1.0 ) + " %",
								/*NumToStr((V[i]/RedVol),1.0) + "   " + */
									i-SwingXoffset, 
									H[i]*(1+(SwingYoffset/100)), 
									IIf( PeaksVolPerc[i] <= -8, colorWhite, colorTeal ),  
									IIf( PeaksVolPerc[i] <= -8, colorRed, Null ) 
	); 
	if( TrouDef[i] )	PlotText( NumToStr( TrousVolPerc[i], 1.0 ) + " %",
								/*NumToStr((V[i]/RedVol),1.0) + "   " + */
									i-SwingXoffset, 
									L[i]*(1-(SwingYoffset/100)), 
									IIf( TrousVolPerc[i] <= -8, colorWhite, colorRed ),  
									IIf( TrousVolPerc[i] <= -8, colorDarkOliveGreen, Null ) 
	); 
}


LastBarVolPerc = 	IIf(		MyZig_Up,
							( 100 * ( V - Peak1Vol ) / Peak1Vol ),
							( 100 * ( V - Trou1Vol ) / Trou1Vol ) );
SwingBreakUp = H > Peak( HoL, ZigPercent );
SwingBreakDn = L < Trough( HoL, ZigPercent );

/////////////////////////////////////////////////////


Plot( MyZig, "%Change("+NumToStr(ZigPercent,1.1)+"%)", IIf( MyZig_Up, ZigUpColor, ZigDownColor ) );
Plot( Close, "Close", colorWhite, styleCandle );
Plot( MyZig + ( MyZig * 0.05 ), "", colorRed, styleNoDraw); 
Plot( MyZig - ( MyZig * 0.05), "", colorRed, styleNoDraw);
_SECTION_END();

5 comments

1. Ayuraveda
over 12 years ago

Thank u for sharing , it is very interesting !

I ’ve read some detail at :

http://www.tradingmarkets.com/.site/stocks/how_to/articles/-76494.cfm

but it looked different to your AFL.

Report as Spam
2. imaxhighsky
over 12 years ago

Please tell me where do you find it different and I can fix it. As far as I know it implements the data just fine to use Ord’s method. The only thing is that you need to adjust is the percent for the zig zag indicator and what percent of change you want to plot the text with highlighted background.

Let me know what you want to change…

cheers !!

Report as Spam
3. lovebliss
over 12 years ago

Very nice work imaxhighsky! Could you please kindly explain what the different colors shown (and highlighted) in the chart mean? Many thanks!

Report as Spam
4. deep_pocket
almost 11 years ago

Nice Master!!!!can you add for explorer? thanks alot.

Report as Spam
6. gordon
almost 4 years ago

hi can you do this in volume cant understand the percentage thank you very much highly appreciated
just like of the ord i do understand thank you very much

Report as Spam

Leave Comment

Please login here to leave a comment.

Back

We try to maintain hiqhest possible level of service - most formulas, oscillators, indicators and systems are submitted by anonymous users. Therefore www.WiseStockTrader.com does not take any responsibility for it's quality. If you use any of this information, use it at your own risk. You are responsible for your own trading decisions. Be sure to verify that any information you see on these pages is correct, and is applicable to your particular trade. In no case will www.WiseStockTrader.com be responsible for your trading gains or losses.

News Contact Us Terms and Conditions Privacy Policy