Lets develop a trading system...!

[linkon7]

Now, can anyone help in converting this system into an afl.

Requirements:
1. We need trendlines to automatically appear on the price.
2. We want to price to be colored based on the value of a very short term MACD, say , MACD (3,11,9)
3. We want the rsi to be smoothened by taking the ema (3) of the RSI-21 abd have a trend line connecting the high and low.
4. CCI (14) needs to be smoothened as well and should have trendlines connecting the high and low.
5. Stoploss : The low / high of the last 3 bars needs to plotted so that we know where to place the stoploss when we trail the price.

Awaiting reply from members who can help in coding this....
Any suggestions and recommendations are most welcome....

 

[kenneth]

=linkon7;Here we have a simple daily chart of dow jones (as i dont have access to nifty charts from my office

Hi linkon,

You have Amibroker, Ami quote and internet access download nifty and sensex data use Yahoo codes ^NSEI and ^BSESN

Regards
Ken

 

[linkon7]

Hi linkon,

You have Amibroker, Ami quote and internet access download nifty and sensex data use Yahoo codes ^NSEI and ^BSESN

Regards
Ken

Does it matter which chart we use....
We are developing the concept here, based on which we develop the afl...test it live...modify....test it some more.... till we are satisfied....:clap:

 

[kenneth]

Does it matter which chart we use....
We are developing the concept here, based on which we develop the afl...test it live...modify....test it some more.... till we are satisfied....:clap:

Not really Linkon. I thought you need help since you wrote "as i dont have access to nifty charts from my office "

All the best
ken

 

[rajendrani]

Very good going linkon,
Also mark as what kind of trade are you looking for intraday or swing for 2-3 days.

All the best,
Regards,
rajendrani

 

[Rajadhiraj]

Hello Linkon

You need to define it in more detail.

To start with try defining the trend line objectively.

How do u plot it?

Would you prefer to use Linear Reg Line or use swing high/low?

If u always use swing high/lows or close?

If you need to have min 3 points or only 2 will do?

How do you handle fat tails, so on so forth ...:thumb:

Before one can start coding one needs everything defined objectively in terms of available data (i.e in our case price points OHLC/V and time)

 

[burnsy]

try using pattern explorer to help plot your trends
never used it, but i THINK it would help you in that aspect

 

[linkon7]

Very good going linkon,
Also mark as what kind of trade are you looking for intraday or swing for 2-3 days.

All the best,
Regards,
rajendrani

I am looking for intraday moves.... but i will carry the position forward for a few days, if i am into profit. If i carry it overnight, i will hedge the profit by buying options in case of a gap up / down. The options will act as a hedge only and will get rid of it within 15 min of the next day. Hence the preference for nifty as the options are liquid....

 

[linkon7]

try using pattern explorer to help plot your trends
never used it, but i THINK it would help you in that aspect

i do use pattern explorer... and it does a good job. but pattern explorer is designed to look for patterns and we are looking for trendline break for a high probability - low risk entry which gives us a better risk reward ratio....

pattern explorer will give us 2-3 trades.
I am searching for about 8-10 trades per day, with a success ratio of above 60%.... with a tight stoploss, the overall day should end in profit....

 

[GokaSingh]

Try this .. I got it in forum.

no=Param( "Swing", 2, 1, 55 );
tsl_col=ParamColor( "Color", colorCycle );

res=HHV(H,no);
sup=LLV(L,no);
avd=IIf(C>Ref(res,-1),1,IIf(C<Ref(sup,-1),-1,0));
avn=ValueWhen(avd!=0,avd,1);
tsl=IIf(avn==1,sup,res);

Plot(tsl, _DEFAULT_NAME(), tsl_col, styleStaircase);

Buy=Cross(C,tsl);
Sell=Cross(tsl,C);

shape=Buy*shapeUpArrow + Sell*shapeDownArrow;
PlotShapes(shape,IIf(Buy,tsl_col,tsl_col),0,IIf(Buy,Low,High));