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BOTTOM PEARLS for Amibroker (AFL)

Rating:
2 / 5 (Votes 3)
Tags:
amibroker, scanner

This is an indicator. Look for cup or saucer shaped patterns at the
bottoms. The shapes are two types. cups with green line on top
for most of the part. cups with green line on bottom for most of
the part. first type of cups are the most preferred entry levels.
See the screenshot with tick marks, you can understand. Thus
bottoms are easily and accurately identified. This indicator
is based on the product of ADX AND MACD. Verified many charts
and this indicator is found to give accurate results. Ignore buy
signals when the cups are formed with green line on bottom for
most of the part.

Screenshots

Indicator / Formula

Copy & Paste Friendly
D=(C*V);

A=PDI()*MACD(5);
B=MDI()*Signal(14);
Plot(EMA(A,5),"SAMANTHA",colorGreen,style=styleDots,Min(0,0),Max(0,0));
Plot(EMA(B,5),"TAMANNA",colorBlack,style=styleLine,Min(0,0),Max(0,0));
F=EMA(A,5);
G=EMA(B,5);
I=EMA(G,4)>EMA(G,10);
J=EMA(G,7)<EMA(G,15);
/*Buy= I AND  Cross(F,G) AND J AND ATR(3)>ATR(8) AND C>O;*/
Buy=F>G AND F>Ref(F,-2) AND G>Ref(G,-2) AND C>O AND LLV(G,10)==LLV(G,30) AND ATR(3)>ATR(8);
PlotShapes(Buy*shapeUpArrow,colorGreen,Layer=0,yposition=L,Offset=-12);

7 comments

1. karanm

KINDLY GUIDE AS WHEN TO ENTER THE TRADE AS IT IS DIFFICULT TO MAKE OUT THE TRADES TO BE ENTERED & TRADES TO BE IGNORED AS EXPLAINED.
AS MENTIONED BY YOU, WHY YOU SELECTED TWO TRADES TO BE TAKEN AS TICKED & WHY YOU IGNORED THE TWO TRADES AS TICKED.
HOPE YOU WILL CLEAR THE AS WHICH TRADES ARE TO TAKEN & WHICH TRADES ARE TO BE IGNORED.

2. chatpurpose

As I said in the description, please look for cups with green line on top and black line at bottom. enter the trade on right side of the cup when both green and black lines are rising. Hope I cleared the confusion. The top part of the cup should be covered by green line fully (should not be partial).

3. MotaSheth

still not adequately clear….

please elaborate,
thanks in advance

4. chatpurpose

Further, please take your own decision on sell signal as I did not provide the same for various reasons.

5. isc0rpi0

i only got one single green dotted line whereas in your snapshot there are two along with some time line

6. isc0rpi0

ignore it got it changed the color which is BLACK in the code to RED .. works fine :)

7. dedaniaroop09@gmail.com

Any one have rounding bottom formation AFL.

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