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350 Swing Indicator for Amibroker (AFL)

Rating:
3 / 5 (Votes 2)
Tags:
oscillator, amibroker

Barbara Stars article in Stocks & Commodities February issue, The 350 Swing Trade, outlines several trading systems based on J. Welles Wilders relative strength index (Rsi).

The swing 350 system is based on the three-bar Rsi. Star suggests combining the smoothed Rsi with any of the following: a trend-establishing moving average; Wilders average directional movement indicator (Adx); or Bollinger bands. Strategy code for some of these combination’s also presented here.

The chart below demonstrates three display modes for Barbara Stars 350 swing indicator: a color-coded candlestick chart of (PODD) with a 20-day Donchian channel (upper pane); a three-day moving average of a three-day RSI (middle pane); and a color-coded three-day RSI (bottom pane).

Screenshots

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Indicator / Formula

Copy & Paste Friendly
// 350 Swing Indicator 
_SECTION_BEGIN("350Swing"); 

nRSILen = Param("RSI Length", 3, 2, 50 ); 
nMALen = Param("MA Length", 3 ); 
UpColor = ParamColor("UpColor", colorGreen ); 
DnColor = ParamColor("DnColor", colorRed ); 

r = RSI( nRSILen ); 
rma = MA( r, nMALen ); 
Color = IIf( r > 50, UpColor, DnColor ); 

mode =  ParamList("Display", "RSI|RSIMA|Price"); 

switch( mode ) 
{ 
case "RSI":  
         Plot( r, _DEFAULT_NAME(), Color ); 
         break; 
case "RSIMA":   
         Plot( rma,  "RSI MA" + _PARAM_VALUES(), colorBlue ); 
         PlotOHLC( 50, rma, 50, rma, "", colorLightBlue , styleCloud | styleClipMinMax, 20, 80 ); 
         break; 
case "Price": 
         SetBarFillColor( Color ); 
         Plot( C, "Price", Color, styleCandle ); 
         PlotShapes( ( rma < 20 ) * shapeSmallCircle, colorGreen, 0, L, -20 ); 
         PlotShapes( ( rma > 80 ) * shapeSmallCircle, colorRed, 0, H, 20 ); 
         Plot( HHV( H, 20 ), "", colorLightBlue ); 
         Plot( LLV( L, 20 ), "", colorLightBlue ); 
         break; 
} 
_SECTION_END();

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