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RSI Trendlines and Wedges for Amibroker (AFL)
Rating:
5 / 5 (Votes 1)
Tags:
amibroker, exploration, pattern, rsi
The formula plots recent [or previous] RSI trendlines in Indicator Builder mode.
In Automatic Analysis mode, explore for the n=1 last quotations for Ascending or Descending Wedges and the respective probable bearish or bullish breakouts.
By Dimitris Tsokakis – tsokakis [at] oneway.gr
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1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 | /*RSI Trendlines and Wedges*/G=0;// set G=1, 2, 3, ... to see previous Resistance trendlinesGG=0;// set G=1, 2, 3, ... to see previous Support trendlinesx = Cum(1);per = 1;// sensitivity calibrations1=RSI();s11=RSI();Plot(RSI(),"RSI",2,8);pS = TroughBars( s1, per, 1 ) == 0;endt= LastValue(ValueWhen( pS, x, 1+GG ));startt=LastValue(ValueWhen( pS, x, 2+GG ));dtS =endt-startt;endS = LastValue(ValueWhen( pS, s1, 1+GG ) );startS = LastValue( ValueWhen( pS, s1, 2+GG ));aS = (endS-startS)/dtS;bS = endS;trendlineS = aS * ( x -endt ) + bS;// the Support trendline equation Plot(IIf(x>startt-6 AND TRENDLINES>0 ANDTRENDLINES<100,trendlineS,-1e10),"Support",IIf(as>0,5,4),8);pR = PeakBars( s11, per, 1 ) == 0;endt1= LastValue(ValueWhen( pR, x, 1+G ));startt1=LastValue(ValueWhen( pR, x, 2+G ));dtR =endt1-startt1;endR = LastValue(ValueWhen( pR, s11, 1+G ) );startR = LastValue( ValueWhen( pR, s11, 2 +G ));aR = (endR-startR)/dtR;bR = endR;trendlineR = aR * ( x -endt1 ) + bR;// the Resistance trendline equationPlot(IIf(x>startT1-6 AND TRENDLINER>0 ANDTRENDLINER<100,trendlineR,-1e10),"Resistance",IIf(Ar>0,5,4),8);Ascwedge=Ar>0.5 AND As>sqrt(2)*Ar AND trendlineR>trendlineS;Descwedge= As<-0.5 AND As>Ar/sqrt(2) AND trendlineR>trendlineS;Filter=1;AddColumn(Ascwedge,"AscWedge",1.0);AddColumn(DescWedge,"DesWedge",1.0);AddColumn(Ascwedge AND trendlineS>50 AND RSI()>50,"Probable Bearish Breakout",1.0);AddColumn(Descwedge AND trendlineR<50 AND RSI()<50,"Probable Bullish Breakout",1.0); |
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