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Wavetrend scanner for Amibroker (AFL)
Rating:
5 / 5 (Votes 2)
Tags:
amibroker, exploration
Scanner based on Mike’s WaveTrend clone indicator submitted by Kaiji (http://www.wisestocktrader.com/indicators/372-mikes-wave-trend-clone).
Identifies situations in which primary WaveTrend indicator has a value under -40 and, at the same time, it’s above 4 days moving average.
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Indicator / Formula
Copy & Paste Friendly
ChannelPeriods = Param("Channel Periods",10,1,50,1);
AvgPeriods = Param("Average Periods",21,1,50,1);
OverBought = Param("Over Bought Line",64,0,100,1);
OverSold = Param("Over Sold Line",-64,-100,0,1);
ColTCI = ParamColor("TCI Line Color",colorBrown);
ColOB = ParamColor("Over Bought Color",colorRed);
ColOS = ParamColor("Over Sold",colorGreen);
XSpace = Param("GraphXSpace",7,0,20,0.5);
n1 = ChannelPeriods; // Channel periodsdefault is 10.
n2 = AvgPeriods; // Average periodsdefault is 21.
AP = Avg; //Typical Price
ESA = EMA(AP, n1);
D = EMA(abs(AP - ESA), n1);
CI = (AP - ESA) / (0.015 * D);
TCI = EMA(CI, n2);
WaveTrend1 = TCI;
WaveTrend2 = MA(WaveTrend1,4);
Filter = WaveTrend1 > WaveTrend2 AND WaveTrend1 < -40;
AddColumn(O,"Open",1.2);
AddColumn(H,"High",1.2);
AddColumn(L,"Low",1.2);
AddColumn(C,"Close",1.2);
AddColumn(V,"Volume",1);
AddColumn(WaveTrend1,"WaveTrend1",1.2);
AddColumn(WaveTrend2,"WaveTrend2",1.2);1 comments
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pls add