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my trend indicator for Amibroker (AFL)

tsarvjit over 13 years ago Amibroker (AFL)

  • Rating:
    3 / 5 (Votes 6)
  • Tags:
    amibroker, trend
I have developed this indicator myself and is using for last one year . It is giving very good results in live trading when you dont know when the trend will end . Trade in direction of indicator and hold your position till indicator flattens or reverses . If it flattens , then it is assumed that no much steam is there in counter trend . If it reverses , then talke a reverse position .

Indicator / Formula

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r1 = PDI(14);
r2 = MDI (14);


Period = Param("Period",20,1,100,1);
TI = WMA( 2*WMA((r1-r2),int(Period/2))- WMA((r1-r2),Period),int(sqrt(Period)));



for( i = 1 ; i < BarCount-2; i++ ) 
{
if (TI[i] <TI[i-1] &&TI[i] <TI[i+1])
 Lpml[i]=1; 
else
Lpml[i] =0;

if (TI[i] >TI[i-1] &&TI[i] >TI[i+1])
 Lpmh[i]=1;
else
Lpmh[i] =0;
}

GR =ExRem(LpmH,Lpmh);
RD =ExRem(Lpml,Lpml);

Plot( TI, _DEFAULT_NAME(), ParamColor( "Color", colorBlue ), ParamStyle("Style") );

13 comments

3. rajeevranjan51
over 13 years ago

Hi , Can you pls give me the limit like it should be in which range .

Like if it will go above 30-40 then oversold and it suppose to come back lke this. As such indicator looks very good .

Thanks for sharing.
Rajeev

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4. hmsanil
over 13 years ago

Hi,

Please elaborate how to use the indicator for live trading.

Thanks

Sudha

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5. tsarvjit
over 13 years ago

Rajeev , it works in all time frames . In case of equities , it can go upto 50 level and in indexes , i have seen it to go upto 40 level .That is my experince and i would like to share your experience . Regarding its use for live trading -—- I hold my position till it is going up or down . But it may turn flat a little later than the price tops or bottoms.That is only for a few points .But when it reverses , one should take an opposite position , too , for a good profit.I have seen it fail only once in one year , when price was moving in a channel upwards and slowly. But lower time frame confirmed the movement .

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6. Shailendra-0
over 13 years ago

HI “Tsarvjit” IT LOOKS A GOOD & SMOOTH INDICATOR TO ME . GREAT WORK BUT IT IS CONFUSING … SO IF YOU COULD EXPLAIN ….

IS IT POSSIBLE TO ADD BUY SELL ARROWS TO THIS INDICATOR? IF NOT KINDLY EXPLAIN US HOW DO YOU USE IT PARAM SETTINGS FOR ANY MOSTLY TRADED COMMODITY /STOCK. OR YOU CAN MAIL ME THE DETAILS TO SHAAN_1000@YAHOO.CO.IN ….THANX IN ADVANCE.
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7. adhi
over 13 years ago

Hi, This indicator is very very good. I never expect this type of performance. Really Very good.

Thank you very much “Tsarvjit” .

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10. velmont
over 13 years ago

i had tried something hope u ol like it

r1 = PDI;
r2 = MDI (14);
OverBought = Param(“Over Bought Line”,64,0,100,1);
OverSold = Param(“Over Sold Line”,-64,-100,0,1);
ColOB = ParamColor(“Over Bought Color”,colorRed);
ColOS = ParamColor(“Over Sold”,colorGreen);

Period = Param(“Period”,20,1,100,1);
TI = WMA,int(Period/2))- WMA,Period),int(sqrt(Period)));

for( i = 1 ; i < BarCount-2; i++ )
{
if (TI[i] <TI[i-1] &&TI[i] <TI[i+1])
Lpml[i]=1;
else
Lpml[i] =0;

if (TI[i] >TI[i-1] &&TI[i] >TI[i+1])
Lpmh[i]=1;
else
Lpmh[i] =0;
}

GR =ExRem(LpmH,Lpmh);
RD =ExRem(Lpml,Lpml);

Plot( TI, _DEFAULT_NAME(), ParamColor( “Color”, colorBlue ), styleLine,styleDots );
Plot( TI, _DEFAULT_NAME(), ParamColor( “Color”, colorBlue ), styleHistogram,styleDots );
Plot(OverBought,“OB Line”,ColOB,8+16);//|styleNoLabel);//8+16
Plot(OverSold,“OS Line”,ColOS,8+16);//|styleNoLabel);

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11. sk_bala82
over 13 years ago

hi tsarvjit, nice indicator.. thank u very much for sharing such a good stuff

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