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Bullish-Bearish 23.6 Percent Retracement Reversal_Daily for 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

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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

1. shariful

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

2. smashdude77

SIR U R MASTER !!! GREAT IDEA

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

THANKS IN ADVANCE

3. cachu

trading is 240 in a year, no?

4. sahara1

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

5. kishorektk

Sir,

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

6. pinggarcia

Hello,

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

Please help

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