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Three Day Balance Points for Amibroker (AFL)
Rating:
4 / 5 (Votes 4)
Tags:
amibroker, exploration
Three Day Balance Points
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Indicator / Formula
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/***************************************************************************** Name : Three Day Balance Points Coded By : Lal Note : This is a simple idea - using the range of the last three days, find the mid-point. Price above this mid-point is bullish and price below, bearish. You can optionally mark bars to show whether they are above or below the balance point. Also included is an explorer to highlight stocks with a new close above/below the balance point. *****************************************************************************/ Bal_Days = Param("Days for Balance Point", 3, 2, 10, 1); Mark_Bars = ParamToggle("Mark Bars?", "No|Yes", 0); Plottype = ParamList("Price Plotstyle ", "Stylebar|StyleCandle"); SetChartBkGradientFill(ParamColor("Top", colorTeal), ParamColor("Bottom", colorLightGrey), ParamColor("Title", colorTeal)); SetChartBkColor(ParamColor("Chart Background", colorWhite)); // Find the High and Low of said period Period_High = HHV(H, Bal_Days); Period_Low = LLV(L, Bal_Days); Balance_Point= Period_High - (Period_High - Period_Low)/Bal_Days; Current_BP = Ref(Balance_Point, -1); // For the current day, we need the BP as worked out at close yesterday! Price_Style = IIf(Plottype == "Stylebar", styleBar, styleCandle); Plot(C, "Close", ParamColor("Bar Color", colorBlack), Price_Style|styleThick); Plot(Current_BP, "Current BP", ParamColor("BP Color", colorRed), styleStaircase); Plot(Balance_Point, "Next Day's BP", colorBrown, styleNoDraw); // Optional Visual Marking of bars above/below the Balance Point if(Mark_Bars) { PlotShapes(shapeSmallCircle * (C < Current_BP), colorRed, 0, H, 12); PlotShapes(shapeSmallCircle * (C > Current_BP), colorBlue, 0, L, -12); } //Explorer section Close_Up = C > Current_BP; New_Close_UP = Close_Up AND NOT Ref(Close_Up, -1); Close_Dn = C < Current_BP; New_Close_DN = Close_Dn AND NOT Ref(Close_DN, -1); AddColumn(New_Close_Up, "New_Close_Up", 1, colorWhite, IIf(New_Close_Up, colorGreen, colorWhite)); AddColumn(New_Close_Dn, "New_Close_Dn", 1, colorWhite, IIf(New_Close_Dn, colorRed, colorWhite)); Filter = New_Close_Up OR New_Close_Dn;
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Thanks a lot, simple and effective.
how to use it?