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#1 Selling Amibroker Plugin featuring:
3 bar reversal eliminates noise for Amibroker (AFL)
This afl eliminates time and also market noise based on pure price action.
As the time factor is eliminated much of the range bound price which creates noise is eliminated. Simple but effective for trend catching.
Indicator / Formula
_SECTION_BEGIN("3 bar reversal -eliminates time"); SetBarsRequired(10000,10000); // initialize first element NumBar = 0; LastHigh=Close[1]; LastLow=Close[1]; LastStartHigh=Close[1]; LastStartLow=Close[1]; // Loop to produce the TLB values for( i=1; i<BarCount-1; i++ ) { if (numbar > 3 ) { M1=Max(TLBCB[numbar],TLBCE[numbar]); M2=Max(TLBCB[numbar-1],TLBCE[numbar-1]); M3=Max(TLBCB[numbar-2],TLBCE[numbar-2]); m4=Max(m1,m2); LastHigh=Max(m4,m3); M1=Min(TLBCB[numbar],TLBCE[numbar]); M2=Min(TLBCB[numbar-1],TLBCE[numbar-1]); M3=Min(TLBCB[numbar-2],TLBCE[numbar-2]); m4=Min(m1,m2); LastLow=Min(m4,m3); } if( Close[i]> Lasthigh) { numbar++; TLBCB[numbar]=LastStartHigh; // TLBCB Three Line Break Chart Begin (of bar) TLBCE[numbar]=Close[i]; // TLBCB Three Line Break Chart End (of bar) LastStartlow=LastHigh; LastHigh=Close[i]; LastStartHigh=Close[i]; } if( Close[i]< LastLow) { numbar++; TLBCB[numbar]=LastStartLow; TLBCE[numbar]=Close[i]; LastStartHigh=LastStartLow; Lastlow=Close[i]; LastStartlow=Close[i]; } } // for // move the chart to right end of chart space, ie last brick on last bar //position delta = BarCount-1 - numbar; TLBCB = Ref( TLBCB, -delta ); TLBCE = Ref( TLBCE, -delta ); rO = TLBCB; rC = TLBCE; rH = Max(rC,rO); rL = Min(rC,rO); // plot chart PlotOHLC( rO, rH, rL, rC, "TLB" , colorBlack, styleCandle); GraphXSpace=1; Title = Name() + " - {{INTERVAL}} {{DATE}} - TLB Chart : "; _SECTION_END();
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Dear,
wt timeframe it should be used?…
kindly share some of ur experience
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