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Tim Ord Trading System Indicator for Amibroker (AFL)

Rating:
4 / 5 (Votes 9)
Tags:
tim ord, amibroker, volume

I searched and tried all indicators around for implementing Tim Ord methods but was completely disappointed so I write one by myself. It is my first coded indicator so please report any malfunction or improvement it may have (imaxhighsky@gmail.com).

To fully understand the system you will need to read Tim Ord’s book but basically this indicator measures the average volume in each swing leg and compares it to the previous legs. It does the same for tops and bottoms. Once a decrease of 9% or more of volume the number will be highlighted for easy of spot.

Here is a screen shot of how does it looks :

Screenshots

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Indicator / Formula

Copy & Paste Friendly
_SECTION_BEGIN("Ord Volume");

ZigPercent = 		Param( 		"Percent of Change for Zig", 4.6, 0, 50, 0.1 );
ZigUpColor = 		ParamColor( 	"Up Color", colorDarkBlue );
ZigDownColor = 	ParamColor( 	"Down Color", colorViolet );
ZerRedVol = 		Param( 		"Zeros to Reduce from Volume", 3, 0, 8, 1 );
SwingXoffset = 		Param( 		"Swing X Position", 3, -10, 30, 1 );
SwingYoffset = 		Param( 		"Swing Y Position", 1, 0, 30, 0.2 );
Color_LVT = 		ParamColor( 	"Leg Volume Text Color", colorWhite );
Color_LPTS =		ParamColor( 	"Leg % Text Color Simple", colorGrey50 );
Color_LPTH =		ParamColor( 	"Leg % Text Color Highlighted", colorBlack );
Color_LPBH = 		ParamColor( 	"Leg % Background Highlighted", colorYellow );
LegYoffset = 		Param( 		"Leg Y Position", 1.5, 0, 10, 0.1 );

RedVol =				IIf( ZerRedVol == 0, 1, 
						IIf( ZerRedVol == 1, 10,
						IIf( ZerRedVol == 2, 100,
						IIf( ZerRedVol == 3, 1000,
						IIf( ZerRedVol == 4, 10000,
						IIf( ZerRedVol == 5, 100000,
						IIf( ZerRedVol == 6, 1000000,
						IIf( ZerRedVol == 7, 10000000,
						IIf( ZerRedVol == 8, 100000000,
						Null )))))))));

SimpleZigzag = 			Zig( C, ZigPercent );
HoL = 					IIf( SimpleZigzag > Ref(SimpleZigzag,-1), H, L );
bc = 					BarCount - 1 ;

MyZig = 				Zig( HoL, ZigPercent );
MyZig_Up = 			MyZig > Ref( MyZig, -1);
MyZig_Down = 			MyZig < Ref( MyZig, -1);
LastLegMid_Y_Point = 	IIf( MyZig_Down, 	Peak( HoL, ZigPercent ) - ( (Peak( HoL, ZigPercent ) - L) / 2 ) ,
											H - ( (H - Trough( HoL, ZigPercent )) / 2 ) );

PeakDef = 			( MyZig > Ref(MyZig,-1) ) AND ( MyZig > Ref(MyZig,1) );
Peak1Vol = 			ValueWhen( PeakDef, V,1 );	
Peak2Vol = 			ValueWhen( PeakDef, V,2 );
PeaksVolPerc = 		( 100 * ( Peak1Vol - Peak2Vol ) / Peak2Vol );

TrouDef = 			( MyZig < Ref(MyZig,-1) ) AND ( MyZig < Ref(MyZig,1) );
Trou1Vol = 			ValueWhen( TrouDef, V, 1 );
Trou2Vol = 			ValueWhen( TrouDef, V, 2 );
TrousVolPerc = 		( 100 * ( Trou1Vol - Trou2Vol ) / Trou2Vol ); 

LastBarVolPerc = 	IIf(		MyZig_Up,
							( 100 * ( V - Peak1Vol ) / Peak1Vol ),
							( 100 * ( V - Trou1Vol ) / Trou1Vol ) );

P1 		=		PeakBars		(HoL, ZigPercent, 	1)			;
T1		=		TroughBars	(HoL, ZigPercent, 	1)			;
P2		=		PeakBars		(HoL, ZigPercent,	2)			;
T2		=		TroughBars	(HoL, ZigPercent, 	2)			;
P1m1	=		PeakBars		(HoL, ZigPercent, 	1)	+1		;
T1m1	=		TroughBars	(HoL, ZigPercent, 	1)	+1		;
P2m1	=		PeakBars		(HoL, ZigPercent, 	2)	+1		;
T2m1	=		TroughBars	(HoL, ZigPercent, 	2)	+1		;

	/* Last Leg */
LastLegBars = 			IIf( MyZig_Down,		P1m1 , 									T1m1 );
LastLegVolAccum = 		IIf( MyZig_Down, 		Sum( V, P1m1 ) ,						Sum( V, T1m1) );
LastLegVolAVE = 		LastLegVolAccum / LastLegBars 									;

	/* Previous Leg */
PrevLegBars = 			IIf( MyZig_Down, 		(T2m1) - P1 , 							(P2m1) - T1 );
PrevLegVolAccum = 		IIf( MyZig_Down, 		Sum( V, (T2m1)) - Sum( V, P1 ) ,		Sum( V, (P2m1)) - Sum( V, T1 ) );
PrevLegVolAVE =		PrevLegVolAccum 					/ PrevLegBars 				;
VolAVEChange1 = 		(LastLegVolAVE - PrevLegVolAVE) 	/ PrevLegVolAVE 	* 100	;

PrevLegBarsInc = 		IIf( MyZig_Down, 		(T1m1) - P1 , 							(P1m1) - T1 );
PrevLegVolAccumInc =	IIf( MyZig_Down, 		Sum( V, (T1m1)) - Sum( V, P1 ) ,		Sum( V, (P1m1)) - Sum( V, T1 ) );
PrevLegVolAVEInc =		PrevLegVolAccumInc 				/ PrevLegBarsInc			;
VolAVEChange1Inc = 	(LastLegVolAVE - PrevLegVolAVEInc) / PrevLegVolAVEInc 	* 100	;

	/* Previous Previous Leg */
PrPrLegBars = 			IIf( MyZig_Down, 		(P2m1) - T2 ,							(T2m1) - P2 );
PrPrLegVolAccum = 		IIf( MyZig_Down, 		Sum( V, (P2m1)) - Sum( V, T2 ) ,		Sum( V, (T2m1)) - Sum( V, P2 ) );
PrPrLegVolAVE = 		PrPrLegVolAccum 					/ PrPrLegBars 				;
VolAVEChange2 = 		(LastLegVolAVE - PrPrLegVolAVE) 	/ PrPrLegVolAVE 	* 100 	;

PrPrLegBarsInc = 		IIf( MyZig_Down, 		(P2m1) - T1 ,							(T2m1) - P1 );
PrPrLegVolAccumInc = 	IIf( MyZig_Down, 		Sum( V, (P2m1)) - Sum( V, T1 ) ,  		Sum( V, (T2m1)) - Sum( V, P1 ) );
PrPrLegVolAVEInc = 	PrPrLegVolAccumInc 				/ PrPrLegBarsInc 			;
VolAVEChange2Inc = 	(LastLegVolAVE - PrPrLegVolAVEInc) 	/ PrPrLegVolAVEInc 	* 100 	;


IIf( BarCount == LastValue( BarCount ), 				/////////// Incomplete Leg	 ---------=======
  		PlotText( "" + NumToStr( LastLegVolAVE[bc]/RedVol, 1.0),  
																	BarCount - (LastLegBars[bc]/2) , 
																	LastLegMid_Y_Point[bc], 
																	colorYellow ),
Null );
IIf( BarCount == LastValue( BarCount ), 				
  		PlotText( "" + NumToStr( VolAVEChange1Inc[bc], 1.0) + "%", 
																	BarCount - (LastLegBars[bc]/2) , 
																	LastLegMid_Y_Point[bc] * ( 1 - (LegYoffset/100) ),
																	IIf( VolAVEChange1Inc[bc] <= -40, Color_LPTH, Color_LPTS ),
																	IIf( VolAVEChange1Inc[bc] <= -40, Color_LPBH, Null ) ),
Null );
IIf( BarCount == LastValue( BarCount ), 				
  		PlotText( "" + NumToStr( VolAVEChange2Inc[bc], 1.0) + "%", 
																	BarCount - (LastLegBars[bc]/2) , 
																	LastLegMid_Y_Point[bc] * ( 1 - (2*LegYoffset/100) ),
																	IIf( VolAVEChange2Inc[bc] <= -40, Color_LPTH, Color_LPTS ),
																	IIf( VolAVEChange2Inc[bc] <= -40, Color_LPBH, Null ) ),
Null );
IIf( BarCount == LastValue( BarCount ), 
		PlotText( NumToStr( LastBarVolPerc[bc], 1.0 ) + "%",
																	BarCount, 
																	IIf( MyZig_Up[bc], 	H[bc]*(1+(SwingYoffset/100)), 
																						L[bc]*(1-(SwingYoffset/100)) ),
																	IIf( LastBarVolPerc[bc] <= -8, colorWhite, colorGrey50 ),
																	IIf( LastBarVolPerc[bc] <= -8, colorRed, Null ) ),
Null );

for( i = 0; i < BarCount; i++ )							/////////// Legs	 ---------=================
{								
	if( PeakDef[i] OR TrouDef[i] )	
			PlotText( "" + NumToStr( LastLegVolAVE[i]/RedVol, 1.0) + "  ",
																i - (LastLegBars[i]/2),		
																LastLegMid_Y_Point[i],
																Color_LVT
	);	
	if( PeakDef[i] OR TrouDef[i] )	
			PlotText( "" + NumToStr( VolAVEChange1[i], 1.0) + "%",
																i - (LastLegBars[i]/2),		
																LastLegMid_Y_Point[i] * ( 1 - (LegYoffset/100) ),
																IIf( VolAVEChange1[i] <= -40, Color_LPTH, Color_LPTS ),
																IIf( VolAVEChange1[i] <= -40, Color_LPBH, Null ) 
	);	
	if( PeakDef[i] OR TrouDef[i] )	
			PlotText( "" + NumToStr( VolAVEChange2[i], 1.0) + "%",
																i - (LastLegBars[i]/2),		
																LastLegMid_Y_Point[i] * ( 1 - (2*LegYoffset/100) ),
																IIf( VolAVEChange2[i] <= -40, Color_LPTH, Color_LPTS ),
																IIf( VolAVEChange2[i] <= -40, Color_LPBH, Null ) 
	);	
}

for( i = 0; i < BarCount; i++ )							/////////// Swings ---------=================
{
	if( PeakDef[i] )	PlotText( NumToStr( PeaksVolPerc[i], 1.0 ) + " %",
								/*NumToStr((V[i]/RedVol),1.0) + "   " + */
									i-SwingXoffset, 
									H[i]*(1+(SwingYoffset/100)), 
									IIf( PeaksVolPerc[i] <= -8, colorWhite, colorTeal ),  
									IIf( PeaksVolPerc[i] <= -8, colorRed, Null ) 
	); 
	if( TrouDef[i] )	PlotText( NumToStr( TrousVolPerc[i], 1.0 ) + " %",
								/*NumToStr((V[i]/RedVol),1.0) + "   " + */
									i-SwingXoffset, 
									L[i]*(1-(SwingYoffset/100)), 
									IIf( TrousVolPerc[i] <= -8, colorWhite, colorRed ),  
									IIf( TrousVolPerc[i] <= -8, colorDarkOliveGreen, Null ) 
	); 
}


LastBarVolPerc = 	IIf(		MyZig_Up,
							( 100 * ( V - Peak1Vol ) / Peak1Vol ),
							( 100 * ( V - Trou1Vol ) / Trou1Vol ) );
SwingBreakUp = H > Peak( HoL, ZigPercent );
SwingBreakDn = L < Trough( HoL, ZigPercent );

/////////////////////////////////////////////////////


Plot( MyZig, "%Change("+NumToStr(ZigPercent,1.1)+"%)", IIf( MyZig_Up, ZigUpColor, ZigDownColor ) );
Plot( Close, "Close", colorWhite, styleCandle );
Plot( MyZig + ( MyZig * 0.05 ), "", colorRed, styleNoDraw); 
Plot( MyZig - ( MyZig * 0.05), "", colorRed, styleNoDraw);
_SECTION_END();

5 comments

1. Ayuraveda

Thank u for sharing , it is very interesting !

I ’ve read some detail at :

http://www.tradingmarkets.com/.site/stocks/how_to/articles/-76494.cfm

but it looked different to your AFL.

2. imaxhighsky

Please tell me where do you find it different and I can fix it. As far as I know it implements the data just fine to use Ord’s method. The only thing is that you need to adjust is the percent for the zig zag indicator and what percent of change you want to plot the text with highlighted background.

Let me know what you want to change…

cheers !!

3. lovebliss

Very nice work imaxhighsky! Could you please kindly explain what the different colors shown (and highlighted) in the chart mean? Many thanks!

4. deep_pocket

Nice Master!!!!can you add for explorer? thanks alot.

6. gordon

hi can you do this in volume cant understand the percentage thank you very much highly appreciated
just like of the ord i do understand thank you very much

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