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street_smart_linda_adx for Amibroker (AFL)

Rating:
3 / 5 (Votes 3)
Tags:
oscillator, amibroker, exploration

Used the ADX for finding the strength and based on 2-roc from the book “Street smart”

Indicator / Formula

Copy & Paste Friendly
_SECTION_BEGIN("www.disciplined.trade");
//street_smarts_2_ROC by Linda Raschke //Only Buy/sell signal
SetChartOptions(0,chartShowArrows|chartShowDates);
_N(Title = StrFormat("{{NAME}} - {{INTERVAL}} {{DATE}} Open %g, Hi %g, Lo %g, Close %g (%.1f%%) {{VALUES}}", O, H, L, C, SelectedValue( ROC( C, 1 ) ) ));
Plot( C, "Close", ParamColor("Color", colorDefault ), styleNoTitle | ParamStyle("Style") | GetPriceStyle() ); 
x1 = Ref(Close,-2)-Close;
x2 = x1+Ref(Close,-1);
ADXbuy = ADX(12)>30 AND (PDI(12)>MDI(12));
ADXsell = ADX(12)>30 AND (MDI(12)>PDI(12));
Buy = Cross(Close,x2) AND ADXbuy;
Sell = Cross(x2,Close) AND ADXsell;
AddColumn(Close,"close");
AddColumn(Buy,"buy");
AddColumn(Sell,"sell");
PlotShapes(IIf(Buy, shapeSquare, shapeNone),colorGreen, 0, L, Offset=-40);
PlotShapes(IIf(Buy, shapeSquare, shapeNone),colorLime, 0,L, Offset=-50);                      
PlotShapes(IIf(Buy, shapeUpArrow, shapeNone),colorWhite, 0,L, Offset=-45); 
PlotShapes(IIf(Sell, shapeSquare, shapeNone),colorRed, 0, H, Offset=40);
PlotShapes(IIf(Sell, shapeSquare, shapeNone),colorOrange, 0,H, Offset=50);                      
PlotShapes(IIf(Sell, shapeDownArrow, shapeNone),colorWhite, 0,H, Offset=-45);

_SECTION_END();

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