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WiseTrader Toolbox
#1 Selling Amibroker Plugin featuring:
Trend Catcher for Amibroker (AFL)
Best Indicator For MCX & F&O, Works in Lower time Frame.
Happy Trading!!!
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Indicator / Formula
Title =" ";
///Coded By Joby Kumar
/// Jobyk518@gmail.com
_SECTION_BEGIN("Trend Cacther");
VAR1 = Param("Var1", 10, 1, 50, 1);
VAR2 = Param("Var2", 4, 0.5, 10, 0.5);
AVAR1=(High + Low)/2 - VAR2 * ATR(VAR1);
AVAR2=(High + Low)/2 + VAR2 * ATR(VAR1);
FLAG1 = False;
FLAG2 = False;
VAR3= Null;
VAR4 = Null;
AVAR3 = Null;
AVAR3[VAR1-1] = 0;
AVAR4 = Null;
AVAR4[VAR1-1] = 0;
AVART1 = Null;
AVART2 = Null;
for(i = VAR1; i < BarCount; i++)
{
//Buy Signal Generation
if(AVAR4[i-1] < Close[i-1] && FLAG1 == False)
{
AVART1[i] = True;
FLAG1 = True;
VAR3 = AVAR1[i];
}
else
{
AVART1[i] = False;
}
//Trailing Stop Loss Buy
if(FLAG1 == True)
{
if(VAR3 < AVAR1[i])
{
VAR3 = AVAR1[i];
}
AVAR3[i] = VAR3;
}
else
{
AVAR3[i] = Null;
}
//Short Signal Generation
if(AVAR3[i-1] > Close[i-1] && FLAG1 == True)
{
AVART2[i] = True;
FLAG1 = False;
VAR4 = AVAR2[i];
}
else
{
AVART2[i] = False;
}
//Trailing Stop Loss Short
if(FLAG1 == False)
{
if(VAR4 > AVAR2[i])
{
VAR4 = AVAR2[i];
}
AVAR4[i] = VAR4;
}
else
{
AVAR4[i] = Null;
}
}
Buy = ExRem(AVART1, AVART2);
Short = ExRem(AVART2, AVART1);
Sell = Short;
Cover = Buy;
Candlecol=IIf(BarsSince(Buy)<BarsSince(Short) AND BarsSince(Buy)!=0,colorBlue,
IIf(BarsSince(Buy)>BarsSince(Short) AND BarsSince(Short)!=0,4,1));
cc1=IIf(Buy,colorBlue,IIf(Short,colorRed,Candlecol));
SetBarFillColor(Cc1);
Plot( C, "Price", colorDefault, styleCandle );
AVAR10 = IIf(IsNull(AVAR3), L - 0.1, AVAR3);
AVAR11 = IIf(IsNull(AVAR4), H + 0.1, AVAR4);
Plot(AVAR10, "SL1", IIf(IsNull(AVAR3), colorBlack, colorBrightGreen), styleStaircase|styleDashed);
Plot(AVAR11, "SL2", IIf(IsNull(AVAR4), colorBlack, colorOrange), styleStaircase|styleDashed);
Buyshape = Buy * shapeUpArrow;
SellShape = Sell * shapeDownArrow;
PlotShapes( Buyshape, colorBrightGreen, 0, Low );
PlotShapes( SellShape, colorRed, 0, High );
Shortshape = Short * shapeDownArrow;
CoverShape = Cover * shapeUpArrow;
PlotShapes( Shortshape, colorOrange, 0, High, -30);
PlotShapes( CoverShape, colorTurquoise, 0, Low, -30 );
_SECTION_END();
4 comments
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Good Formula Thanks for Posting
this is nothing but supertrend
It gives signals too late,,,
very nice. its not late, identifies trend.