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Effort index for Amibroker (AFL)
Rating:
3 / 5 (Votes 2)
Tags:
oscillator, amibroker
This is great formula collected from karthikmarar.
Visit his website for a description:
http://karthikmarar.blogspot.com.au/2013/06/effort-index-afl.html
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Indicator / Formula
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//Volume Price Analysis - Effort Verus Result Index Afl - Version 1.0
// Afl by Karthikmarar
// www.karthikmarar.blogspot.com
//============================================================
_SECTION_BEGIN("Effort versus Result - V.1.0");
//SetChartBkColor(colorWhite);
SetChartOptions(0,chartShowArrows|chartShowDates);
Vlp = Param("Volume lookback period",40,20,200,10);
Vrg = MA(V,Vlp);// average volume
rg = (H-L); //Spread
arg = Wilders(rg,Vlp);//Average Spread
rs = abs(C-Ref(C,-1));//Result
rsg = Wilders(rs,Vlp);//Average Result
sro = rg/arg;//ratio of spread to average
Vro = V/Vrg;//ratio of volume to average
rso = rs/rsg; //ratio of result to average
smax = HHV(sro,Vlp);
smin = LLV(sro,Vlp);
Vmax = HHV(Vro,Vlp);
Vmin = LLV(Vro,Vlp);
rmax = HHV(rso,Vlp);
RMIn = LLV(rso,Vlp);
snor = (sro - smin)*100/(smax-Smin);
Vnor = (Vro - Vmin)*100/(Vmax-Vmin);
rnor = (rso - RMIn)*100/(rmax-RMIn);
EI = rnor/Vnor;
SelectedIndicator = ParamList( "Show", "Raw Effort-Result,Effort Index", 1 );
SelectedResult = ParamList( "Select", "Spread,Bar to Bar", 1 );
switch ( SelectedIndicator )
{
case "Raw Effort-Result":
switch ( SelectedResult )
{
case "Spread":
SetBarFillColor( colorOrange );
PlotOHLC(0,snor,0,snor,"Result",IIf(C>Ref(C,-1),colorLime,colorRed), styleCandle |styleThick) ;
Plot(MA(snor,Vlp),"Avg Result",colorYellow,1|styleDashed|styleThick);
SetBarFillColor( colorGreen );
PlotOHLC(0,-Vnor,0,-Vnor,"Effort",IIf(C>Ref(C,-1),colorLime,colorRed), styleCandle|styleThick ) ;
Plot(MA(-Vnor,Vlp),"Avg Effort",colorTurquoise,1|styleDashed|styleThick);
break;
case "Bar to Bar":
SetBarFillColor( colorOrange );
PlotOHLC(0,rnor,0,rnor,"Result",IIf(C>Ref(C,-1),colorLime,colorRed), styleCandle |styleThick) ;
Plot(MA(rnor,Vlp),"Avg Result",colorYellow,1|styleDashed|styleThick);
SetBarFillColor( colorGreen );
PlotOHLC(0,-Vnor,0,-Vnor,"Effort",IIf(C>Ref(C,-1),colorLime,colorRed), styleCandle|styleThick ) ;
Plot(MA(-Vnor,Vlp),"Avg Effort",colorTurquoise,1|styleDashed|styleThick);
break;
}
break;
case "Effort Index":
SetBarFillColor( colorGreen );
PlotOHLC(0,EI,0,EI,"Effort Index",colorTurquoise, styleCandle|styleThick ) ;
break;
}
_SECTION_END();4 comments
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How can we use this indicator?
Looks like “Waddah Attar Buy Sell Vol” MT4 indicator ported on Amibrioker.
MT4 image: http://img203.imageshack.us/img203/4219/vol.gif
Waddah Attar Buy Sell Volume works as follows: ( may be it is time to port Waddah’s work to Ami )
this indi shows four Lines:
- horizental dot line ( Dead Zone ) .. it work a filter for weak signals and no alert when the red or green histogram under it .
- red histogram shows the current down trend .
- green histogram shows the current up trend .
- yellow line shows the explosion in price up or down .
signal for buy :
- when green histo goes up and yellow line goes up and green histo is higher than yellow line and all is higher dot line .
signal for exit buy :
- you can exit buy when green histo down lower yellow line .
signal for sell :
- when red histo goes up and yellow line goes up and red histo is higher than yellow line and all is higher dot line .
signal for exit sell :
- you can exit sell when red histo down lower yellow line .
This indicator script will give me the reqd idea for porting Waddah’s work to Ami..watch out for this one.
thanks man