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RS Line for Amibroker (AFL)
Rating:
3 / 5 (Votes 2)
Tags:
amibroker
RS line is an outstanding indicator which depicts whether a particular stock is overperforming or underperforming the index. This helps in taking decision to buy or sell in combination with other indicators.
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1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 | // Calculcate the RSLRSL = C/Foreign("NSENIFTY", "C");// bias the RSL to appear below your chart without screwing it up (you may need to adjust the 2.25 value to your tsate)rslb = RSL*1500 + LastValue(C)/2.25;// plot the RSL on the chartPlot(rslb, "RS Line", colorYellow, styleLine|styleThick);// find the last highest value in the last three monthsH_HHV = HHV(H,69);// find the number of bars since this high occurredBaseHigh = BarsSince(H == H_HHV);// find the high of the RSL within the consolidationRS_HHV = HHV(RSL, 69);// check if a new RSL new high occursRSNH = RSL > Ref(RS_HHV, -1);// determine if the RSL new high is within a decently long consolidation (I chose four weeks)RSNH_inbase = RSNH AND BaseHigh > 20;// plot the dots for regular RSL new highs and those within consolidation with different coloursPlotShapes(IIf(RSNH, shapeCircle, shapeNone), colorAqua, 0, rslb, 0);PlotShapes(IIf(RSNH_inbase, shapeCircle, shapeNone), colorOrange, 0, rslb, 0); |
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Great
Great post. Thanks
great idea
this type of people we need to beat the market
he always post for advertise to show his product by unwanted few lines