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Trend Continuation Factor for Amibroker (AFL)

Rating:
4 / 5 (Votes 4)
Tags:
oscillator, amibroker

This indicate the strength of the Trend.

I am not the author of this indicator. This i got from web ; some time ago.

Details are as follow :
Positive values of either the +TCF and the -TCF indicate the presence of a strong trend.

Positive values of +TCF indicator a strong uptrend, while positive values of -TCF indicate a strong downtrend.

TCF & -TCF cannot both be positive at the same time, since both an uptrend & a downtrend cannot occur simultaneously. Both can be negative. if both are negative, this signifies consolidation, OR the absence of a trend.

It recommended to enter long positions when the +TCF value is positive, & enter Short positions when the TCF value is positive.

Screenshots

Indicator / Formula

Copy & Paste Friendly
Length = Param("Length",20,1,100,1);

Change = Close - Ref(Close, -1);
PlusChange = IIf(Change > 0, Change, 0);
MinusChange = IIf(Change < 0, -Change, 0);

EnableScript("jscript");
<%
PlusChange=VBArray(AFL("PlusChange")).toArray();
MinusChange=VBArray(AFL("MinusChange")).toArray();

/*Make two new arrays*/
var PlusCF=new Array ();
var MinusCF=new Array();

/*fill array "PlusCF"*/
for (i=0; i<PlusChange.length; i++ )
{
   if ( PlusChange[i]==0 ) { PlusCF[i]=0; }
    else { PlusCF[i]=PlusChange[i]+PlusCF[i-1]; }
}

/*Fill array "MinusCF*/
for (i=0; i<MinusChange.length; i++ )
{
   if ( MinusChange[i]==0 ) { MinusCF[i]=0; }
    else { MinusCF[i]=MinusChange[i]+MinusCF[i-1]; }
}

/*Convert to AFL variables*/
AFL("PlusCF")=PlusCF;
AFL("MinusCF")=MinusCF;
%>

PlusTCF = Sum(PlusChange-MinusCF,Length);
MinusTCF = Sum(MinusChange-PlusCF,Length);

Plot(PlusTCF, "+TFC("+Length+")", colorGreen);
Plot(MinusTCF, "-TFC("+Length+")", colorRed);
PlotGrid(0, colorLightGrey);

Buy=PlusTCF>0;
Sell=MinusTCF>0;
Short=Sell;
Cover=Buy;

/*This is optional*/
ApplyStop(2,1,Optimize("Stop Loss",12,1,15,1),1);

Buy=ExRem(Buy,Sell);
Sell=ExRem(Sell,Buy);
Cover=ExRem(Cover,Short);
Short=ExRem(Short,Cover);

"Positive values of either the +TCF and the -TCF indicate the presence of a strong trend. ";
"";
"Positive values of +TCF indicator a strong uptrend, while positive values of -TCF indicate a strong downtrend.";
"";
"+TCF+ & -TCF cannot both be positive at the same time, since both an uptrend & a downtrend cannot occur simultaneously.  Both can be negative.  if both are negative, this signifies consolidation, OR the absence of a trend.";
"";
"It recommended to enter long positions when the +TCF value is positive, & enter Short positions when the -TCF- value is positive.";

2 comments

1. somanathdas

Thanks for reposting. What parameter you have used in the supertrend.

2. morgen

Very good!!!

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