CCIB explorer for Amibroker (AFL)

alliswell

almost 12 years ago

Amibroker (AFL)

Hello Friends going to introduce a new trading method here. As the name suggests it is a swing method on hourly time frame charts.

Long Set up:
1. CCI of 20 periods should be above zero level for previous 5 bars consecutively.
2. in last 5 bars CCI must be above +100 levels for atleast one bar
3. There is an inside bar on hourly Time frame
4. Long is above high of inside bar + 2Ticks.
5. Stop loss is at low of inside bar – 2Ticks.
6. Target 1 is 2 times the initial risk i.e. (high of inside bar – low of inside bar)
7. Target 2 is 4 times the initial risk.
8. After the target 1 is hit raise the Stop loss to the trade price.

Short Set up:

1. CCI of 20 periods should be below zero level for previous 5 bars consecutively.
2. in last 5 bars CCI must be below -100 levels for atleast one bar
3. There is an inside bar on hourly Time frame
4. Long is below low of inside bar – 2Ticks.
5. Stop loss is at high of inside bar + 2Ticks.
6. Target 1 is 2 times the initial risk i.e. (high of inside bar – low of inside bar)
7. Target 2 is 4 times the initial risk.
8. After the target 1 is hit lower the Stop loss to the trade price.

Note: once the long set up is there and price action breaks the low of inside bar then our set up is void and we are no longer willing to take long in that particular script. Similarly for short set up if price action breaks the high of inside bar then our short set up is void and we are looking for next opportunity.

Indicator / Formula

    //CCIB Hourly Explorer
    //Coded by user alliswell of www.advfnbb.in
    UPCCI1 = Ref(CCI(20),-1) >0 AND Ref(CCI(20),-2) >0 AND Ref(CCI(20),-3) >0 AND Ref(CCI(20),-4) >0 AND Ref(CCI(20),-5) >0;
    UPCCI2 = Ref(CCI(20),-1) >100 OR  Ref(CCI(20),-2) >100 OR Ref(CCI(20),-3) >100 OR Ref(CCI(20),-4) >100 OR Ref(CCI(20),-5) >100;
    DOWNCCI1 = Ref(CCI(20),-1) <0 AND Ref(CCI(20),-2) <0 AND Ref(CCI(20),-3) <0 AND Ref(CCI(20),-4) <0 AND Ref(CCI(20),-5) <0;
    DOWNCCI2 = Ref(CCI(20),-1) < -100 OR  Ref(CCI(20),-2) < -100 OR Ref(CCI(20),-3) <-100 OR Ref(CCI(20),-4) < -100 OR Ref(CCI(20),-5) < -100;

    IB = H < Ref(H,-1) AND L>Ref(L,-1);


    Buy = UPCCI1 AND UPCCI2 AND IB;
    Sell = DOWNCCI1 AND DOWNCCI2 AND IB;

    Filter = Buy OR Sell ;

    AddColumn(Buy,"buy",1.2);
    AddColumn(Sell,"sell",1.2);
    AddColumn( Volume, "Volume" );
    AddColumn( C, "Close" );

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