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#1 Selling Amibroker Plugin featuring:
Effort index for Amibroker (AFL)
This is great formula collected from karthikmarar.
Visit his website for a description:
http://karthikmarar.blogspot.com.au/2013/06/effort-index-afl.html
Similar Indicators / Formulas
Indicator / Formula
//Volume Price Analysis - Effort Verus Result Index Afl - Version 1.0 // Afl by Karthikmarar // www.karthikmarar.blogspot.com //============================================================ _SECTION_BEGIN("Effort versus Result - V.1.0"); //SetChartBkColor(colorWhite); SetChartOptions(0,chartShowArrows|chartShowDates); Vlp = Param("Volume lookback period",40,20,200,10); Vrg = MA(V,Vlp);// average volume rg = (H-L); //Spread arg = Wilders(rg,Vlp);//Average Spread rs = abs(C-Ref(C,-1));//Result rsg = Wilders(rs,Vlp);//Average Result sro = rg/arg;//ratio of spread to average Vro = V/Vrg;//ratio of volume to average rso = rs/rsg; //ratio of result to average smax = HHV(sro,Vlp); smin = LLV(sro,Vlp); Vmax = HHV(Vro,Vlp); Vmin = LLV(Vro,Vlp); rmax = HHV(rso,Vlp); RMIn = LLV(rso,Vlp); snor = (sro - smin)*100/(smax-Smin); Vnor = (Vro - Vmin)*100/(Vmax-Vmin); rnor = (rso - RMIn)*100/(rmax-RMIn); EI = rnor/Vnor; SelectedIndicator = ParamList( "Show", "Raw Effort-Result,Effort Index", 1 ); SelectedResult = ParamList( "Select", "Spread,Bar to Bar", 1 ); switch ( SelectedIndicator ) { case "Raw Effort-Result": switch ( SelectedResult ) { case "Spread": SetBarFillColor( colorOrange ); PlotOHLC(0,snor,0,snor,"Result",IIf(C>Ref(C,-1),colorLime,colorRed), styleCandle |styleThick) ; Plot(MA(snor,Vlp),"Avg Result",colorYellow,1|styleDashed|styleThick); SetBarFillColor( colorGreen ); PlotOHLC(0,-Vnor,0,-Vnor,"Effort",IIf(C>Ref(C,-1),colorLime,colorRed), styleCandle|styleThick ) ; Plot(MA(-Vnor,Vlp),"Avg Effort",colorTurquoise,1|styleDashed|styleThick); break; case "Bar to Bar": SetBarFillColor( colorOrange ); PlotOHLC(0,rnor,0,rnor,"Result",IIf(C>Ref(C,-1),colorLime,colorRed), styleCandle |styleThick) ; Plot(MA(rnor,Vlp),"Avg Result",colorYellow,1|styleDashed|styleThick); SetBarFillColor( colorGreen ); PlotOHLC(0,-Vnor,0,-Vnor,"Effort",IIf(C>Ref(C,-1),colorLime,colorRed), styleCandle|styleThick ) ; Plot(MA(-Vnor,Vlp),"Avg Effort",colorTurquoise,1|styleDashed|styleThick); break; } break; case "Effort Index": SetBarFillColor( colorGreen ); PlotOHLC(0,EI,0,EI,"Effort Index",colorTurquoise, styleCandle|styleThick ) ; break; } _SECTION_END();
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How can we use this indicator?
Looks like “Waddah Attar Buy Sell Vol” MT4 indicator ported on Amibrioker.
MT4 image: http://img203.imageshack.us/img203/4219/vol.gif
Waddah Attar Buy Sell Volume works as follows: ( may be it is time to port Waddah’s work to Ami )
this indi shows four Lines:
- horizental dot line ( Dead Zone ) .. it work a filter for weak signals and no alert when the red or green histogram under it .
- red histogram shows the current down trend .
- green histogram shows the current up trend .
- yellow line shows the explosion in price up or down .
signal for buy :
- when green histo goes up and yellow line goes up and green histo is higher than yellow line and all is higher dot line .
signal for exit buy :
- you can exit buy when green histo down lower yellow line .
signal for sell :
- when red histo goes up and yellow line goes up and red histo is higher than yellow line and all is higher dot line .
signal for exit sell :
- you can exit sell when red histo down lower yellow line .
This indicator script will give me the reqd idea for porting Waddah’s work to Ami..watch out for this one.
thanks man