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#1 Selling Amibroker Plugin featuring:
Trend Continuation Factor for Amibroker (AFL)
This indicate the strength of the Trend.
I am not the author of this indicator. This i got from web ; some time ago.Details are as follow :
Positive values of either the +TCF and the -TCF indicate the presence of a strong trend.
Positive values of +TCF indicator a strong uptrend, while positive values of -TCF indicate a strong downtrend.
TCF & -TCF cannot both be positive at the same time, since both an uptrend & a downtrend cannot occur simultaneously. Both can be negative. if both are negative, this signifies consolidation, OR the absence of a trend.
It recommended to enter long positions when the +TCF value is positive, & enter Short positions when the TCF value is positive.
Screenshots
Indicator / Formula
Length = Param("Length",20,1,100,1); Change = Close - Ref(Close, -1); PlusChange = IIf(Change > 0, Change, 0); MinusChange = IIf(Change < 0, -Change, 0); EnableScript("jscript"); <% PlusChange=VBArray(AFL("PlusChange")).toArray(); MinusChange=VBArray(AFL("MinusChange")).toArray(); /*Make two new arrays*/ var PlusCF=new Array (); var MinusCF=new Array(); /*fill array "PlusCF"*/ for (i=0; i<PlusChange.length; i++ ) { if ( PlusChange[i]==0 ) { PlusCF[i]=0; } else { PlusCF[i]=PlusChange[i]+PlusCF[i-1]; } } /*Fill array "MinusCF*/ for (i=0; i<MinusChange.length; i++ ) { if ( MinusChange[i]==0 ) { MinusCF[i]=0; } else { MinusCF[i]=MinusChange[i]+MinusCF[i-1]; } } /*Convert to AFL variables*/ AFL("PlusCF")=PlusCF; AFL("MinusCF")=MinusCF; %> PlusTCF = Sum(PlusChange-MinusCF,Length); MinusTCF = Sum(MinusChange-PlusCF,Length); Plot(PlusTCF, "+TFC("+Length+")", colorGreen); Plot(MinusTCF, "-TFC("+Length+")", colorRed); PlotGrid(0, colorLightGrey); Buy=PlusTCF>0; Sell=MinusTCF>0; Short=Sell; Cover=Buy; /*This is optional*/ ApplyStop(2,1,Optimize("Stop Loss",12,1,15,1),1); Buy=ExRem(Buy,Sell); Sell=ExRem(Sell,Buy); Cover=ExRem(Cover,Short); Short=ExRem(Short,Cover); "Positive values of either the +TCF and the -TCF indicate the presence of a strong trend. "; ""; "Positive values of +TCF indicator a strong uptrend, while positive values of -TCF indicate a strong downtrend."; ""; "+TCF+ & -TCF cannot both be positive at the same time, since both an uptrend & a downtrend cannot occur simultaneously. Both can be negative. if both are negative, this signifies consolidation, OR the absence of a trend."; ""; "It recommended to enter long positions when the +TCF value is positive, & enter Short positions when the -TCF- value is positive.";
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Thanks for reposting. What parameter you have used in the supertrend.
Very good!!!