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#1 Selling Amibroker Plugin featuring:
Moving Average Pullbacks System for Amibroker (AFL)
Steve Palmquist presents a short-term trading system that uses pullbacks as an entry setup and the next day’s higher high as a trigger. The system is supposedly profitable on the Nasdaq-100 but i have not tested it so if you do test and find it profitable please leave a comment.
Similar Indicators / Formulas
Indicator / Formula
// Moving Average Pullback system with modifications by Eric at 9Trading
RisingCloses = LLV( Close, 5 ) > Ref( HHV( Close, 20 ), -20 );
PMA = MA( Close, 30 );
NotBelowPullbackMA = Sum( Close < PMA, 30 ) == 0;
CloseToPullbackMA = ( Close - PMA ) < 0.015 * Close;
// setup conditions for next day buy stop order
Setup = RisingCloses AND NotBelowPullbackMA AND CloseToPullbackMA;
TriggerPrice = Ref( High, -1 );
// buy only if stock opens higher than yesterdays high
Buy = Ref( Setup, -1 ) AND High > TriggerPrice;
BuyPrice = Max( Open, TriggerPrice );
Sell = False; // sell only via N-bar stop
// time-based stop (for backtesting)
ApplyStop( stopTypeNBar, stopModeBars, 5 );
SetTradeDelays( 0, 0, 0, 0 );
// no more than 3 simultaneous positions open
SetOption("MaxOpenPositions", 3 );
PositionSize = -33; // 3% of capital in single security1 comments
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no, its not profitable