WiseStockTrader.com

_SECTION_BEGIN("demark from ami library");


// The DeMarker indicator is an attempt to overcome the shortcomings of classical overbought / oversold indicators. 
//The DeMarker Indicator identifies potential price bottoms and tops. 
//It accomplishes this by making price comparisons from one bar to the next and measuring the level of price demand. 
//For more information please check AmiBroker Tips newsletter <a href="http://www.amibroker.com/newsletter/02-2000.html">Issue 2/2000</a>


/*
** Tom Demark's DeMarker Indicator
** AFL Implementation by Tomasz Janeczko
*/


MaxGraph=3;

highm = IIf( H > Ref( H, -1 ), H - Ref( H, - 1), 0 );
lowm = IIf( L < Ref( L, -1 ), Ref( L, - 1 ) - L, 0 );

DeMarker = 100 *  Sum( highm, 13 )/( Sum( lowm, 13 ) + Sum( highm, 13 ) );

Graph0 = DeMarker;

Plot(80,"",colorRed,styleLine+styleDots,maskAll); 
Plot(20,"",colorGreen,styleLine+styleDots,maskAll); 


Buy = DeMarker<20; Sell = DeMarker>80; 

buyshape = Buy * shapeUpArrow; SellShape = Sell * shapeDownArrow;
PlotShapes(BuyShape, colorGreen, 0); PlotShapes(SellShape, colorRed, 0);


Filter=Buy OR Sell;
AddColumn( Buy, "Buy", 1);
AddColumn(Sell, "Sell", 1);
AddColumn(Close,"Close",1.2);
AddColumn(Volume,"Volume",1.0); 

Title=EncodeColor( colorDarkTeal ) + " - {{INTERVAL}} {{DATE}}: "+">>>>"+Name()  +">>>>"+ "  DeMark from thomasz  =="+ EncodeColor( colorGreen )+WriteVal(( Graph0 )); 

ToolTip=StrFormat("Open: %g\nHigh:  %g\nLow:   %g\nClose:  %g (%.1f%%)\nVolume: "+NumToStr( V, 1 ), O, H, L, C, SelectedValue( ROC( C, 1 )));
SetChartBkColor(ParamColor("Outer panel color ",colorWhite)); // color of outer border 
SetChartBkGradientFill( ParamColor("Inner panel color upper half",colorPink),ParamColor("Inner panel color lower half",colorCustom1)); // color of inner panel

// The DeMarker indicator is an attempt to overcome the shortcomings of classical overbought / oversold indicators.
// The DeMarker Indicator identifies potential price bottoms and tops. 
//It accomplishes this by making price comparisons from one bar to the next and measuring the level of price demand.
//DeMarker should be interpreted as other overbought / oversold indicators such as RSI with the levels of 30 and 70. 
//Compared to RSI it is smoother but still able to detect tops and bottoms a little bit better.
_SECTION_END();