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Modified Triple Screen Trading System for Amibroker (AFL)

Rating:
3 / 5 (Votes 3)
Tags:
trading system, amibroker, trend, multiple timeframe

Triple Screen System is further refined by long term EMA, non trending stocks are filtered by ADX, RSI is used to filter out the overbought and oversold issues. Furthermore, u can modify these settings as per ur wish.

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Indicator / Formula

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//  Formula Name:    Modified Triple Screen Trading System
//  Author/Uploader: Buvanes					 
//  E-mail:          buvanes1989@gmail.com	
//  Date/Time Added: 2010-06-21 13:32:18
//  Origin:          Translated from the "Triple Screen Trading System" by Dennis Skoblar
//  Keywords:        trading system trend
//------------------------------------------------------------------------------------------------------------------
//This is a modified elder impulse system.the original triple screen system is further filtered by 200 day ema. non trending stocks is filtered 
//using ADX directional system. Usually stocks above 20 are said to be stongly trending. I hav used 15 for ADX system. However u can 
//tweak as per ur wish. Also The coloring system use by ELDER is used here. For long only stocks which are blue and green are selected and vice 
//versa. Also for long the daily trend is confirmed by the slope of 22period EMA. Here you can modify any settings 
//as per ur wish for 
//--------------------------------------------------------------------------------------------------------------------
//-----------------------------Modified Triple Screen Trading System--------------------------------------------------
//--------------------------------------For GOING LONG----------------------------------------------------------------
//Stock is above its 200day EMA
//ADX is greater than 15. By this stocks in trading range are ignored
//DAILY MACD HISTOGRAM RISING
//WEEKLY MACD HISTOGRAM RISING
//RSI is greater than 20 and should be less than 90. overbought issues are filtered
//5period EMA is above the 13 period EMA(Both are fibonacci numbers)
//22 period DAILY EMA is rising 
//------------------------------------------------------------------------------------------------------------
//-----------------------------------------FOR GOING SHORT---------------------------------------------------
//Stock is below its 200day EMA
//ADX greater than 15
//DAILY MACD HISTOGRAM IS FALLING
//WEEKLY MACD HISTOGRAM is FALLING
//RSI is greater than 50
//5 period EMA is below the 13period EMA
//22 period dailyEMA is falling
//------------------------------------------------------------------------------------------------------------------


//GOING LONG

//The Close Price of the current bar is GREATER than the EMA (Long) of 1 bar ago */
LongEMA = Param( "LONG EMA LOOKBAVK", 50, 30, 200, 1 );
Buy1 = Close > EMA( C, LongEMA );

//The ADX of the current bar is greater than 15 */
a1=Param("ADX VALUE",20,5,100,1,0);
a2=Param("ADX LOOKBACK PERIOD", 14, 10, 100, 1, 0);
Buy2 = ADX( a2 ) > a1;

//The RSI of the current bar is greater than 20 */
Buy3 = RSIa( Close, 14 ) > 20;

//The RSI of the current bar is less than 90 */
Buy4 = RSIa( Close, 14 ) < 90;

//The Exponential MA (Short) of the current bar is greater than the Exponential MA (Medium) of the current bar */
Buy5 = EMA( Close, 5 ) > EMA( Close, 13 );

//22 PERIOD DAILY EMA IS RISING */
Buy9 = EMA( Close, 22 ) > Ref( EMA( Close, 22 ), -1 );

TimeFrameSet( inWeekly );
WeeklyMACD = MACD(12,26) - Signal(12,26,9);
WeekHistRising = Ref(WeeklyMACD, -1) < Ref(WeeklyMACD, 0);
WeekHistFalling = Ref(WeeklyMACD, -1) > Ref(WeeklyMACD, 0);
TimeFrameRestore();

// Weekly criteria
MACDLongW = WeekHistRising;
MACDShortW= WeekHistFalling;

TimeFrameSet( inDaily );
DailyMACD = MACD(12,26) - Signal(12,26,9);
DHistRising = Ref(DailyMACD, -1) < Ref(DailyMACD, 0);
DHistFalling = Ref(DailyMACD, -1) > Ref(DailyMACD, 0);
TimeFrameRestore();

// DAILY criteria FOR HISTOGRAM
MACDLongD = DHistRising;
MACDShortD= DHistFalling;


// Daily criteria
FIDaily = EMA(V*(C-Ref(C,-1)),2);
FILongD = FIDaily < 0;
FIShortD = FIDaily > 0;

TimeFrameSet( inDaily) ;

//MACD
r1 = Param( "Impulse Fast avg", 12, 2, 200, 1 );
r2 = Param( "Impulse Slow avg", 26, 2, 200, 1 );
r3 = Param( "Impulse Signal avg", 9, 2, 200, 1 );

ml = MACD(r1, r2);
sl = Signal(r1,r2,r3);
Hist = ml-sl;

MACUP = Hist > Ref(Hist,-1);
MACDN = Hist < Ref(Hist,-1);

MA1 = Param( "Impluse MA", 21, 21, 200, 1 );

MAUP = EMA(C,MA1) > Ref(EMA(C,MA1),-1);
MADN = EMA(C,MA1) < Ref(EMA(C,MA1),-1);

BarColor = IIf(Close == Open,
colorBlack,IIf(Close>Open,colorGreen,colorRed));

BarColor  = IIf(MACUP AND MAUP,colorGreen,IIf(MACDN AND
MADN,colorRed,colorBlue));

Sell8 = MACDN AND MADN;

Buy6 = MACUP AND MAUP;

Buy7 = MACUP AND MADN;

Buy8 = MACDN AND MAUP;

// Scan criteria
ElderLong = Buy1 AND Buy2 AND MACDLongW AND MACDLongD AND Buy3 AND Buy4 AND Buy5 AND (Buy6 OR Buy7 OR Buy8) AND Buy9;

//======================================================================================================================


// FOR GOING SHORT

//The Close Price of the current bar is LESSER than the 200 PERIOD EMA */
ShortEMA = Param( "SHORT EMA LOOKBAVK", 50, 30, 200, 1 );
Sell1 = BarsSince( Close >= EMA( C,ShortEMA ) ) >= 1;


/*The RSI has been greater than 70 within the last 5 bars */
s1=Param("SHORT RSI Value", 50, 10, 100, 1, 0);
Sell5 = Ref( HHV( RSIa( Close, 14 ), 5 ), 0 ) > s1;

//5 PERIOD EMA IS LESS THAN 13 PERIOD EMA
Sell6 = EMA( Close, 5 ) <  EMA( Close, 13 );

//22 PERIOD DAILY EMA IS FALLING */
Sell7= EMA( Close, 22 ) < Ref( EMA( Close, 22 ), -1 );

// Scan criteria
ElderShort = Sell1 AND Buy2 AND MACDShortD AND MACDShortW AND Sell5 AND Sell7 AND (Buy7 OR Buy8 OR Sell8);

Buy = ElderLong;
Sell = 0;
Short = ElderShort;
Cover = 0;

5 comments

1. mahesh.aranake

How to activate to see charts? Remove // from which lines?

2. administrator

No it needs to be put in.

3. susanti9988

yup, i can’t see the chart too, please help.
thx

4. amitrandive

Cannot see charts please help

5. kananwisha

Please use scan function to find out stocks.

It doesn’t display in your chart.

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