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Wave Indicator for Amibroker (AFL)

Rating:
3 / 5 (Votes 6)
Tags:
trading system, amibroker, zigzag

This indicator can tell you where the best level to buy or sell.

Screenshots

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Indicator / Formula

Copy & Paste Friendly
_SECTION_BEGIN("wave");
SetChartOptions(1, chartShowDates);   

pr = Param("ZZ", 5, 1, 100);
 
EWpk = PeakBars(H, pr, 1) == 0;
EWtr = TroughBars(L, pr, 1) == 0;

zz = Zig(C, pr);
zzHi = Zig(H, pr);
zzLo = Zig(L, pr);
Avg = (zzHi+zzLo)/2;

RetroSuccessSecret = IIf(EWpk, zzHi, IIf(EWtr, zzLo, IIf(Avg > Ref(Avg,-1), H, L)));
EW = Zig(RetroSuccessSecret, pr);
Plot(C, "Close", colorBlack, styleCandle);
Plot(EW, "wave", colorBlue, styleThick);

Buy = TroughBars(EW, pr, 1) == 0;
Sell = PeakBars(EW, pr, 1) ==0;
Buy = ExRem(Buy, Sell);
Sell = ExRem(Sell, Buy);
PlotShapes( shapeUpArrow * Buy, colorGreen, 0, Low );
PlotShapes( shapeDownArrow * Sell, colorRed, 0, High );


_SECTION_END();

3 comments

1. administrator

A warning to everyone this indicator uses ZigZag so the result going forward are not reproducible.

2. swingtrader

Hello Nicotan, your indicator is good, It would be more better if u try to add a trailing stop-loss & set target points to it..cheers!!!

3. hezar dastan

your indicator is good

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