Intraday Open Marker Version 1.0

[wahabdeen]

please convert to amibroker afl code (Intraday Open Marker Version 1.0)






//////////////////////////////////////////////////////////////////////////////
//
// Intraday Open Marker Version 1.0
// Coded by J.J. Hurley
// Date 1/1/2007 (Yep, coding indicators on new years day)
//
// The problem addressed here is trying to find the real Open value
// from eSignal (or other intraday data feed) for any particular day.
// This is important in backtesting when you want to base a trade decision
// on where the open was in relation to something else. eg Moving Average.
// In intraday data feeds, the first bar for a day is usually from the
// pre-open trading hours, so using
// TodayO = TimeFrameGetPrice ( "O", inDaily, 0 );
// will only provide the open of the first bar in the pre-open market.
// If I could be sure of the opening time, I could have used a time based
// function. However, I have not found a way to get eSignal to send data out
// with exchange time stamps. (its always local PC time, even on backfill).
//
// Second problem with using time to select the open is markets like the ASX
// stager the opening times, so different stocks have different opening times.
// Add to that, some days a stock will open late because of a short term
// trading holt, and therefore not at their usual time.
// By searching for a spike in the intraday volume, it should be a good
measure
// of when a stock has really opened for trading.

Bars_so_far_today = 1 + BarsSince( Day() != Ref(Day(), -1));

//////////////////////////////////////////////////
// Today's Open is hard to determine by time
//
// So, lets make Today's Open (TodayO) based on
// the first volume spike

///////////////////////////////////////////////////////
// PreOpenVol may need adjustment,
// this is my first take on identifying a Volume spike.
// idea is to spot a big peak on a 1 minute chart
// above the minimal pre-Open Volume
PreOpenVol = 20*MA(Volume,32);

// If New Day, then set Today's Open to Null
// This is to indicate that the market has not opened
//
Opened = IIf(BarsSince(Volume>PreOpenVol) > Bars_so_far_today, 0, 1);

n=BarsSince(Opened==0);
TodayO = IIf(Opened==1, Ref(Open,-n+1), Null);
Clr_TodayO = ParamColor("Open marker", colorLightGrey);
PlotShapes (IIf(Opened ==1 AND Ref(Opened, -1) ==0, shapeHollowCircle,
shapeNone), Clr_TodayO, Layer=0, yposition=High, Offset = 10);

//////////////////////////////////////////////
// Print out some details of current bar
"Day of Month = " + WriteVal(Day(), 1.0);
"Today's Real Open = " + WriteVal(TodayO, 1.5);