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WiseTrader Toolbox
#1 Selling Amibroker Plugin featuring:
Trading The Trend 2 for eSignal (EFS)
This efs plots the indicator developed by Andrew Abraham in the Trading the Trend article of TASC September 1998
You can read more about it here
Indicator / Formula
/********************************************************* Alexis C. Montenegro © April 2005 Use and/or modify this code freely. If you redistribute it please include this and/or any other comment blocks and a description of any changes you make. **********************************************************/ //This efs plots the indicator developed by Andrew Abraham //in the Trading the Trend article of TASC September 1998 var fpArray = new Array(); function preMain(){ setPriceStudy(true); setStudyTitle("Trend Trader"); setCursorLabelName("Limit") setDefaultBarFgColor(Color.red,0); setColorPriceBars(true); setDefaultPriceBarColor(Color.black); var x=0; fpArray[x] = new FunctionParameter("Length", FunctionParameter.NUMBER); with(fpArray[x++]){ setLowerLimit(1); setDefault(21); } fpArray[x] = new FunctionParameter("Multiplier", FunctionParameter.NUMBER); with(fpArray[x++]){ setLowerLimit(0.01); setDefault(3); } fpArray[x] = new FunctionParameter("Interval", FunctionParameter.STRING); with(fpArray[x++]){ setDefault(); } fpArray[x] = new FunctionParameter("Params", FunctionParameter.BOOLEAN); with(fpArray[x++]){ setName("Show Parameters"); setDefault(false); } } var bInit = false; var xInterval = null var avgTR = null; var highestC = null; var lowestC = null; var xClose= null; var Signal1 = null; function main(Length,Multiplier,Interval,Params){ if(bInit==false){ if(Interval==null) Interval = getInterval(); xInterval = Interval+""; avgTR = wma(Length,atr(1,inv(xInterval))); highestC = upperDonchian(Length,close(inv(xInterval))); lowestC = lowerDonchian(Length,close(inv(xInterval))); xClose = close(inv(xInterval)); setShowTitleParameters(eval(Params)); bInit=true; } var Close1 = xClose.getValue(-1); var highestC1 = highestC.getValue(-1); var lowestC1 = lowestC.getValue(-1); var avgTR1 = avgTR.getValue(-1); if(Close1 == null || highestC1 == null || lowestC1 == null || avgTR1 == null) return; if(getBarStateInterval(xInterval)==BARSTATE_NEWBAR){ var hiLimit1 = highestC1-(avgTR1*Multiplier); var loLimit1 = lowestC1+(avgTR1*Multiplier); if(Close1 > hiLimit1 && Close1 > loLimit1) Signal1 = hiLimit1; if(Close1 < loLimit1 && Close1 < hiLimit1) Signal1 = loLimit1; } if(Signal1 == null) return; if(Close1 > Signal1) setPriceBarColor(Color.blue); if(Close1 < Signal1) setPriceBarColor(Color.red); return Signal1; }
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