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Good Indicator for range bound, overbought and over sold condition

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  #1  
Old 17th June 2011, 11:14 AM
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Thumbs up Good Indicator for range bound, overbought and over sold condition

This indicator is working nicely on Nifty 5 min chart

4 to -4 range bound do not trade
above 8 be alert with your longs
below -8 bel alert with your shorts

Please see attached image for details




only problem is, its in mq4 format, seniors may please help to code it in afl, so that max user on this great forum get benefited




Last edited by Nehal_s143; 17th June 2011 at 11:26 AM.
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  #2  
Old 17th June 2011, 12:23 PM
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Default Re: Good Indicator for range bound, overbought and over sold condition

Quote:
Originally Posted by Nehal_s143 View Post
This indicator is working nicely on Nifty 5 min chart

4 to -4 range bound do not trade
above 8 be alert with your longs
below -8 bel alert with your shorts

Please see attached image for details




only problem is, its in mq4 format, seniors may please help to code it in afl, so that max user on this great forum get benefited
Nehal,

Indicator available at wisestocktrader, reproduced below:-

Quote:
// COG timing indicator
// AFL translation by E.M.Pottasch, 2011
// from: http://chartstudio.whselfinvest.com/files/COGTiming.ctl

bi=BarIndex();
eb=LastValue(bi);
period=Param("Period",5,1,10,1);
bars=Param("Lookback Period",100,50,500,1);
sv=ParamToggle("Use Selected Value","Off|On",1);
level1=4;
level2=8;
ul1=ul2=ll1=ll2=Null;
oo=hh=ll=cc=Null;

if (sv)
{
eb=SelectedValue(bi);
bb=Max(0,eb-bars);
}
else
{
bb=Max(0,eb-bars);
}
for(i=bb+period-1;i<=eb;i++)
{
ul1[i]=level1;
ul2[i]=level2;
ll1[i]=-level1;
ll2[i]=-level2;
am=0;
ar=0;
for(j=i-period+1;j<=i;j++)
{
am=am+(High[j]+Low[j])/2;
ar=ar+(High[j]-Low[j])/5;
}
am=am/period;
ar=ar/period;
if(ar!=0)
{
oo[i]=(Open[i]-am)/ar;
hh[i]=(High[i]-am)/ar;
ll[i]=(Low[i]-am)/ar;
cc[i]=(Close[i]-am)/ar;
}
else
{
oo[i]=0;
hh[i]=0;
ll[i]=0;
cc[i]=0;
}
}
C=cc;O=oo;H=hh;L=ll;
Plot(C,"",colorWhite,styleCandle);
//PlotOHLC(O,H,L,C,"",colorWhite,styleCandle);
//Plot(cc,"Close",colorWhite,styleThick);
//Plot(oo,"\nOpen",colorLightGrey,styleLine);
//Plot(hh,"\nHigh",colorRed,styleLine);
//Plot(ll,"\nLow",colorRed,styleLine);
Plot(ul1,"\nUpper Level 1",colorViolet,styleLine);
Plot(ul2,"\nUpper Level 2",colorViolet,styleLine);
Plot(ll1,"\nLower Level 1",colorViolet,styleLine);
Plot(ll2,"\nLower Level 2",colorViolet,styleLine);
Hope this helps.
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  #3  
Old 17th June 2011, 03:48 PM
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Default Re: Good Indicator for range bound, overbought and over sold condition

Thanks hitesh sir for quick reply and afl
Quote:
Originally Posted by hitesh View Post
Nehal,

Indicator available at wisestocktrader, reproduced below:-



Hope this helps.
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  #4  
Old 17th June 2011, 06:41 PM
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Default Re: Good Indicator for range bound, overbought and over sold condition

Thanks hitesh but this error coming after i paste in ami :"error 10
subscripts out of range"
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  #5  
Old 18th June 2011, 02:18 PM
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Default Re: Good Indicator for range bound, overbought and over sold condition

which software is this?? where we can find this indicator?? looking very nice in range bound market....

and what is the name of this indicator???
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  #6  
Old 19th June 2011, 01:30 PM
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Default Re: Good Indicator for range bound, overbought and over sold condition

Great indicator thank you very much hitesh...........
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  #7  
Old 19th June 2011, 10:59 PM
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Default Re: Good Indicator for range bound, overbought and over sold condition

Quote:
Originally Posted by XRAY27 View Post
Great indicator thank you very much hitesh...........
whats this error?

oo[i]=0;
hh[i]=0;
ll[i]=0;
cc[i]
----^

Error 10.
Subscript out of range.
You must not access array elements outside 0..(BarCount-1) range.
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  #8  
Old 25th June 2011, 03:21 PM
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Default Re: Good Indicator for range bound, overbought and over sold condition

Quote:
Originally Posted by new-to-markets View Post
whats this error?

oo[i]=0;
hh[i]=0;
ll[i]=0;
cc[i]
----^

Error 10.
Subscript out of range.
You must not access array elements outside 0..(BarCount-1) range.
Mine also comming same error.

I am using Ami 5.2 .
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  #9  
Old 25th June 2011, 04:43 PM
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Default Re: Good Indicator for range bound, overbought and over sold condition

error !!!!!!!
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  #10  
Old 25th June 2011, 04:52 PM
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Default Re: Good Indicator for range bound, overbought and over sold condition

Quote:
Originally Posted by worldastro View Post
error !!!!!!!
Will attach text file 2morrow.


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