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An n bar Reversal Indicator for Amibroker (AFL)
Rating:
3 / 5 (Votes 3)
Tags:
amibroker, trend
An n Bar Reversal Program
The theory says that this indicator gives reliable signals of strong trends.
Its disadvantage is that the signal can be a little late, but is offset by its reliability. An uptrend is assumed to be in place if todays high is higher than those of the previous n days,and a downtrend is in place when todays low is lower
than those of the previous n days. Otherwise the existing trend persists. N is commonly set at 3 but can be any value. The implementation here simply shows arrows at trend reversals.
By Brian Wild
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Indicator / Formula
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1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 | //An n Bar Reversal Program//The theory says that this indicator gives reliable signals of strong trends.//Its disadvantage is that the signal can be a little late, but is offset by its reliability.// An uptrend is assumed to be in place if todays high is higher than those// of the previous n days,and a downtrend is in place when todays low is lower//than those of the previous n days. Otherwise the existing trend persists.//n is commonly set at 3 but can be any value.//The implementation here simply shows arrows at trend reversals.n= Param("No. of Bars",3,2,8,1);TrendUp = H > Ref(HHV(H,n),-1);TrendDn = L < Ref(LLV(L,n),-1);TrendUp = ExRem(TrendUp,TrendDn);TrendDn = ExRem(TrendDn,TrendUp);PlotShapes(TrendUp*shapeUpArrow,colorGreen);PlotShapes(TrendDn*shapeDownArrow,colorRed); |
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