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Bullish-Bearish 23.6 Percent Retracement Reversal_Daily for Amibroker (AFL)

indraji2001 almost 12 years ago Amibroker (AFL)

  • Rating:
    3 / 5 (Votes 3)
  • Tags:
    amibroker, exploration

After a significant price move (either up OR down), prices will often retrace a significant portion (if NOT all) of the original move. As prices retrace, support AND resistance levels OFTEN occur at OR near the Fibonacci Retracement levels. 23.6%, 38.2%, 50.0% AND 61.8% are the important Fibonacci levels at which stocks generally (it happens very often) CHANGE direction. This search lists all the stocks near the 23.6% retracement level. Click the company Name to have a look at the chart AND then make an investment decision // TREND CHANGE -VERY High

Indicator / Formula

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//After a significant price move (either up OR down), prices will often retrace a significant portion (if NOT all) of the original move. As prices retrace, support AND resistance levels OFTEN occur at OR near the Fibonacci Retracement levels. 23.6%, 38.2%, 50.0% AND 61.8% are the important Fibonacci levels at which stocks generally (it happens very often) CHANGE direction. This search lists all the stocks near the 23.6% retracement level. Click the company Name to have a look at the chart AND then make an investment decision // TREND CHANGE -VERY High	
//if you use Daily timeframe, then in variables A AND B, pass number as 365 AND if you use Weekly, then pass the number as 52 in variable A AND B

//(YH - Close) < (YH - YL) * 0.40 AND (YH - Close) > (YH - YL) * 0.37	
//SET A = Max(High,365)
//SET B = Min(Low,365)
//SET C = A - B
//SET D = A - LAST
//D < (C * 0.25) AND D > (C * 0.37)

 
A = HHV(High,365);
B = LLV(Low,365);
C = A - B;
D = A - Close;

Condition1 = (D < (C * 0.25)) AND (D > (C * 0.22));

Filter = Condition1;

AddColumn(C,"Close");

6 comments

almost 12 years ago

great idea brother indraji2001 ..Its seeming exceptional and exciting indeed. Carry on with such extra ordinary idea…

over 11 years ago

SIR U R MASTER !!! GREAT IDEA

SIR CAN YOU UPLOAD SAME WAY FOR ELLIOT WAVE’S (EW1,EW2,EW3,EW4,EW5)

THANKS IN ADVANCE

4. sahara1
over 11 years ago

Sir,
can you please inform the change to be done to get 78.6% Fib retracement

over 10 years ago

Sir,

I am using amibroker 6.0 version but your formula not working it showing blank image when applied to chart.

about 10 years ago

Hello,

Exactly what I am looking for. But I can only see blank?

Please help

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