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H-L Ribbon for Amibroker (AFL)

Rating:
5 / 5 (Votes 1)
Tags:
amibroker, ribbon

This ribbon is created based on price movement.
Upper ribbon is for high to high movement. Lower ribbon is for low to low movement.
Green-Green : Strong bullish
Red-Red : Strong bearish
Yellow : sideways

Screenshots

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Indicator / Formula

Copy & Paste Friendly
/*
This ribbon is created based on price movement. 
Upper ribbon is for high to high movement. Lower ribbon is for low to low movement. 
Green-Green : Strong bullish
Red-Red : Strong bearish
Yellow : sideways
*/

_SECTION_BEGIN("H-L Ribbon");

uptrendH=Ref(H,0)>Ref(H,-1); 
downtrendH=Ref(H,0)<Ref(H,-1); 
Ribbon1=IIf( uptrendH, colorBrightGreen, IIf( downtrendH, colorRed, colorYellow));


uptrendL=Ref(L,0)>Ref(L,-1); 
downtrendL=Ref(L,0)<Ref(L,-1); 
Ribbon2=IIf( uptrendL, colorBrightGreen, IIf( downtrendL, colorRed, colorYellow));

Plot( 2, "", Ribbon2, styleOwnScale|styleArea|styleNoLabel, -0.5, 100);
Plot( 4, "", Ribbon1, styleOwnScale| styleArea| styleNoLabel, -0.5, 100); 

_SECTION_END();

1 comments

1. rktheinvestor

what a waste. same information is being shown by candlecharts as well as ribbons below.

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