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Effort index for Amibroker (AFL)
Rating:
3 / 5 (Votes 2)
Tags:
oscillator, amibroker
This is great formula collected from karthikmarar.
Visit his website for a description:
http://karthikmarar.blogspot.com.au/2013/06/effort-index-afl.html
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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 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 | //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 volumerg = (H-L); //Spreadarg = Wilders(rg,Vlp);//Average Spreadrs = abs(C-Ref(C,-1));//Resultrsg = Wilders(rs,Vlp);//Average Resultsro = rg/arg;//ratio of spread to averageVro = V/Vrg;//ratio of volume to averagerso = rs/rsg; //ratio of result to averagesmax = 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