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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
not working. not shown any line or indicator. plz resolve this