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520 Intraday Trading System for Amibroker (AFL)

Rating:
3 / 5 (Votes 4)
Tags:
amibroker

This system works better on 5 Minute Chart. When RSI start rising below from 30 & buy signal occurs, Go Long with a stop loss of recent low. When RSI start downward below from 70 & sell signal occurs, Go Short with a stop loss of recent High.

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Indicator / Formula

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//Go Short/Long on Cross over with Stop loss of recent High/Low on 5 Minute Chart
_SECTION_BEGIN("Background_Setting");
SetChartBkGradientFill( ParamColor("BgTop", colorBlack),
ParamColor("BgBottom", colorBlack),ParamColor("titleblock",colorWhite)); 
_SECTION_END();

_SECTION_BEGIN("520 cross");
SetChartOptions(0,chartShowArrows|chartShowDates);
Plot(Close,"Price",colorWhite, styleCandle);
Plot(EMA(Close,5),"5EMA",colorGreen,style=styleThick);
Plot(EMA(Close,20),"20EMA",colorRed,style=styleThick);
Buy=Cross(EMA(Close,5),EMA(Close,20));
Sell=Cross(EMA(Close,20),EMA(Close,5));
Short=Sell;
Cover=Buy;
shape = Buy * shapeSmallUpTriangle + Sell * shapeSmallDownTriangle;
PlotShapes( shape, IIf( Buy, colorGreen, colorRed ), 0, IIf( Buy, Low, High ) );
_SECTION_END();

 
_SECTION_BEGIN("Ribbon");
no=Param( "Swing", 10, 1, 55 );
res=HHV(H,no);
sup=LLV(L,no);
avd=IIf(C>Ref(res,-1),1,IIf(C<Ref(sup,-1),-1,0));
avn=ValueWhen(avd!=0,avd,1);
tsl=IIf(avn==1,sup,res);
 
Plot( 2, "Ribbon",IIf(C>tsl,colorGreen,colorRed),styleOwnScale|styleArea|styleNoLabel, -0.5, 100 );
_SECTION_END();

3 comments

1. Rakesh Kumar

It will work better in trend market. Avoid using it in side way market.

2. nileyshsane

What will be rsi settings?

3. prasadmuni

THANK YOU SIR FOR SHARING
PRASAD

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