Anyone Having This Indicator?

hmp

Well-Known Member
#11
All credit goes to BNFTRADER brother.
I have observed that in parameter adjust me value if changes to 20 would make perfect picture as loaded by Sushil brother.
If candle closes above yellow staircase line then its a buy signal & vice verse for sell.So enjoy!
Thanks & regards.
With this above mentioned conditions for buy/sell ,can we have arrows for buy/sell in chart along with scanner?
 
#12
Dear BNFTRADER brother,
You have done a very good job. Now just put the buy sell arrows and put the complete AFL here.

if u have data of Crude for March , then pls attach that data so that it can be tested

By the way thanks once again.....

Can u convert a MT4 trading system into Amibroker AFL?
 
#14
Hi,

wonderful effort. But have you checked the output with what is ostedin post number 1. The yellow staircase line is much above the price as per price and the MA line do not cross the yellow line until march 30th as per the orginal picture. However the AFL done has a different slope for the yellow line.

Please check and refine it. Looks good visually
 

hmp

Well-Known Member
#15
Hi,

wonderful effort. But have you checked the output with what is ostedin post number 1. The yellow staircase line is much above the price as per price and the MA line do not cross the yellow line until march 30th as per the orginal picture. However the AFL done has a different slope for the yellow line.

Please check and refine it. Looks good visually
Actually i have already refined that adjust me level from default lvl. 9 to 20 to match the image sent by Sushil brother and yesterdays image is according to that.You can chk. this by adjusting to 20 as per mentioned above and pl. let me know whether am i correct or not?
Thanks & regards.
 
#16
Actually i have already refined that adjust me level from default lvl. 9 to 20 to match the image sent by Sushil brother and yesterdays image is according to that.You can chk. this by adjusting to 20 as per mentioned above and pl. let me know whether am i correct or not?
Thanks & regards.
Hi HMP,

After I posted , i reviewed and tweaked it to 21 and it matches to the image.

I figured out that the entry rule is buy when the 13 ema line crosses the yellow line.

You may exit when the trend changes colour to red or on pivots. I tried looking at this is 30 mins for positional trades and it seems to be giving good results. will need to check more
 

hmp

Well-Known Member
#17
Dear Sri brother
Thanks for correcting me.There is one more thing that we require buy/sell arrows along with scanner as per this strategy,so that we can scan out stocks also to apply this indicator.
For 30 min. it seems good for positional but intraday we will get late entry i suppose.Did you tested it for intraday also?
If you observe above figure where 13 ema(pink) yet to cross yellow line & before that major action has already started after big red candle pierced yellow line.But i prefer to enter after completion of pierced candle.Pl. let me know your views about it.
Thanks & regards.
 
#18
Dear Sri brother
Thanks for correcting me.There is one more thing that we require buy/sell arrows along with scanner as per this strategy,so that we can scan out stocks also to apply this indicator.
For 30 min. it seems good for positional but intraday we will get late entry i suppose.Did you tested it for intraday also?
If you observe above figure where 13 ema(pink) yet to cross yellow line & before that major action has already started after big red candle pierced yellow line.But i prefer to enter after completion of pierced candle.Pl. let me know your views about it.
Thanks & regards.
I did not try it out for intraday. There may be some occasions that the crossover will occur due to teh fact that ema is lagging indicator and we will miss out. If you notice that at values 9 or 21 in 5 mins Tf the big move did not get signalled.. So there are days that this will not give you teh chance to be in the trade early.
However using 30 mins, it appears to capture the trend quite well. however the markets have been trending and so this looks good.

Back test it for periods when Nifty has been range bound and I am sure, you will observe that this doe not perform so well. The idea is to trade select scrips and be in trade always and you will emerge winner at the end of the month.