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Cup Formation for Amibroker (AFL)
Rating:
2 / 5 (Votes 4)
Tags:
amibroker, pattern
Early detection of cup formations. Published in April edition of Stocks and Commodities
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Indicator / Formula
Copy & Paste Friendly
Parameter = Param( "parameter", 1.5, 1, 10, 0.1 );
FilC = ( log( C ) );
eps = 0.0000000001;
// basic Definitions
semicupperiod = SelectedValue( Max( BarsSince( C >= SelectedValue( C * parameter ) ), 1 ) ) + 1;
Ptop = SelectedValue( HHV( FilC, Semicupperiod ) );
Pbot = SelectedValue( LLV( FilC, Semicupperiod ) );
boxheight = SelectedValue( abs( Ptop - Pbot ) / 5 );
boxlength = SelectedValue( Max( int( semicupperiod / 5 ), 1 ) );
// Grid Nodes
bar = Cum( 1 );
b0 = SelectedValue( bar - semicupperiod + 1 );
b5 = SelectedValue( bar );
b1 = SelectedValue( Min( b0 + boxlength, b5 ) );
b2 = SelectedValue( Min( b1 + boxlength, b5 ) );
b3 = SelectedValue( Min( b2 + boxlength, b5 ) );
b4 = SelectedValue( Min( b3 + boxlength, b5 ) );
L2 = Pbot + 2 * boxheight;
L3 = Pbot + 3 * boxheight;
// Directional Strength
Diff = FilC - Ref( FilC, -1 );
UpSum2 = Sum( Max( Diff, 0 ), 2 * boxlength );
DnSum2 = Sum( Max( -Diff, 0 ), 2 * boxlength );
DSX1 = abs( UpSum2 - DnSum2 ) / ( eps + UpSum2 + DnSum2 ) * 100;
UpSum3 = Sum( Max( Diff, 0 ), 3 * boxlength );
DnSum3 = Sum( Max( -Diff, 0 ), 3 * boxlength );
DSX2 = abs( UpSum3 - DnSum3 ) / ( eps + UpSum3 + DnSum3 ) * 100;
// Coditions
isSemicup = ( semicupperiod >= 20 ) AND
( Ref( DSX1, -( b5 - b2 ) ) > 25 ) AND
( DSX2 < 25 ) AND
( Cum( IIf( bar >= b2, FilC > L3, 0 ) ) == 0 ) AND
( Cum( IIf( bar >= b4, FilC > L2, 0 ) ) == 0 );
LIS = SelectedValue( isSemicup );
Lastbar = SelectedValue( Cum( bar ) );
Line = LIS * ( ValueWhen( LIS * bar == b0, 1 ) *
( ( exp( Ptop ) - exp( Pbot ) ) /
( bar - b0 + 2 ) * 2 + 0.98 * exp( Pbot ) ) );
if( LIS ) Plot( Line , "IsSemiCupPlot", colorRed, styleThick );
Plot( C, Date() + " Close", ParamColor("Color", colorBlack ), styleBar );
Filter = isSemicup;
AddColumn( semicupperiod, "Semicup period", 1.0 );
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