# perfect profitable formula need AFL for this

#### vsreeram77

##### Active Member
calculate PREVIOUS DAY HIGH,PREVIOUS DAY LOW

MOST IMPORTANT ON BUY LOGIC :
----------------------------

if buy recommended price < previous day's close price....entire day NO BUY..strictly

if day's first candle open price > buy recommended price , then ignore the first buy

---------------

put 2 variables as follows :

CALCULATE " a " = (previous day high - (previous day high-previous day low ) * 0.382
CALCULATE " b " = (previous day high - (previous day high-previous day low ) * 0.618

here, a = buy recommended price , b = stoploss value for the buy entry.

*********a and b values are fixed should not be changed for entire day in buy side ******************

expert advisor must check the important rule :
----------------------------------------------

if a < previous day's close price... entire day no buy

and also

if current day's first candle open price > buy recommended price.. ignore that entry

target price = (previous day's high - previous day's low ) * 0.618 + a

stoploss price = a-b

book at target or exit at stoploss as per logic.

=============================================================================================

VERY IMPORTANT SELL LOGIC :
-----------------------------

if sell recommended price > previous day's close price....entire day NO SELL..strictly

if day's first candle open price < sell recommended price , then ignore the first sell

---------------

put 2 variables as follows :

CALCULATE " a " = (previous day high - previous day low ) * 0.382 + previous day's low

CALCULATE " b " = (previous day high - previous day low ) * 0.618 + previous day's low

here, a = sell recommended price , b = stoploss value for the sell entry.

*********a and b values are fixed should not be changed for entire day in sell side ******************

expert advisor must check the important rule :
----------------------------------------------

if a > previous day's close price... entire day no sell

and also

if current day's first candle open price < sell recommended price.. ignore that entry

target price = (previous day's low - previous day's high ) * 0.618 + a

stoploss price = a-b

book at target or exit at stoploss as per logic.

=============================================================================================

#### newmanin

##### Member
it is for intraday.. and every day, levels will be changed
Vsreeram - pls help share any backtest result? or any stock specific readings to implement correctly what you are projecting.

#### vsreeram77

##### Active Member
i am checking it regularly , go far high volume stocks, since stoploss and reward ratio is almsot 1 : 3, you get good money at end of month

#### vsreeram77

##### Active Member
concept i explained, no need of any external indicators, even at EOD, you can check the accuracy.. April 12 2018 : Bank nifty
sell failed ,but buy call gave more than 100 points... like this many script..if one side loss, next reverse side, you can get gain

#### rmike

##### Well-Known Member
@vsreeram77
perfect profitable formula....

You are merely employing fib levels on the previous day's range for intraday trade anticipation. As with everything else, there's always scope for refinement

Since you appear to have spent some effort in manual live forward testing and for formulating clearly explained rules ...... here's something which will aid you on your way for enhanced analysis and further refinement!!!

Scan example of 15M intraday timeframe on 13 Apr 18 for TATAPOWER

Apart from default columns, provides info about the previous day's close (PrevDay 'C'), the current day's open ('O' Today) and guidance ('Remark') as per their compared value(s)! As you can see it's cautioning you to ignore the first buy - the signal which triggered at 10:14:59!

The Buy rec price (TrigBuy) and Sell rec price (TrigSell) with their difference (RiskRg) is provided for anticipated trade entry order placement and calculation of optimal position sizing! The scan results for a basket of instruments are reordered automatically as per the Lowest RiskRg

Visual alert cues are provided in the form of background and foreground colours once a trade has been triggered - When this happens, the redundant rec price (the Sell rec price in this example) is removed and info about the Trade Signal, the Initial Stop Loss (Initial S/L) & the Target appears

In addition, the rule regarding comparison of rec price with the PrevDay 'C' has been internally incorporated for conditional trade signal generation

But the proof of the pudding lies in the eating - Isn't it??!!

Hence - Fib Trader - Visual Chart

Chart example of 15M intraday timeframe on 13 Apr 18 for HDIL

The skyblue solid line is the buy rec price/ initial stop loss for sell trade (Trig-B). The orange solid line is the sell rec price/ initial stop loss for buy trade (Trig-S). The white dashed line is previous day's close (PrevDay C). AND the gold dashed lines are the trade targets (uTgt & dTgt)

The Buy/ Sell arrows are self explanatory

Once a trade triggers, the target will continue to plot until it's hit by price OR a reverse signal is triggered!!!

Note - Like I said earlier, a tool such as this will aid your analysis for further refinement! For example a nice juicy trade signal was not generated because the sell rec price (orange line) was above the previous day's close (white dashed line) - Highlighted by the dashed violet circle on 12 Apr 18 at market open!

Anyhow .... The AFL is attached. Attendant usage instructions are in the AFL itself Be sure to read them prior usage!!!

Ordinarily, a pro grade 'as per specification(s)' coding with enhanced value additions would have set you back by a couple of grand!!! ..... But this is posted Gratis

Use it Wisely & Well!!!

Cheerio!!!

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#### EXPLORER

##### Active Member
hi
showing errors in afl my friend. can u verify? using 5.4 version

##### Well-Known Member
@vsreeram77

You are merely employing fib levels on the previous day's range for intraday trade anticipation. As with everything else, there's always scope for refinement

Since you appear to have spent some effort in manual live forward testing and for formulating clearly explained rules ...... here's something which will aid you on your way for enhanced analysis and further refinement!!!

Scan example of 15M intraday timeframe on 13 Apr 18 for TATAPOWER

Apart from default columns, provides info about the previous day's close (PrevDay 'C'), the current day's open ('O' Today) and guidance ('Remark') as per their compared value(s)! As you can see it's cautioning you to ignore the first buy - the signal which triggered at 10:14:59!

The Buy rec price (TrigBuy) and Sell rec price (TrigSell) with their difference (RiskRg) is provided for anticipated trade entry order placement and calculation of optimal position sizing! The scan results for a basket of instruments are reordered automatically as per the Lowest RiskRg

Visual alert cues are provided in the form of background and foreground colours once a trade has been triggered - When this happens, the redundant rec price (the Sell rec price in this example) is removed and info about the Trade Signal, the Initial Stop Loss (Initial S/L) & the Target appears

In addition, the rule regarding comparison of rec price with the PrevDay 'C' has been internally incorporated for conditional trade signal generation

But the proof of the pudding lies in the eating - Isn't it??!!

Hence - Fib Trader - Visual Chart

Chart example of 15M intraday timeframe on 13 Apr 18 for HDIL

The skyblue solid line is the buy rec price/ initial stop loss for sell trade (Trig-B). The orange solid line is the sell rec price/ initial stop loss for buy trade (Trig-S). The white dashed line is previous day's close (PrevDay C). AND the gold dashed lines are the trade targets (uTgt & dTgt)

The Buy/ Sell arrows are self explanatory

Once a trade triggers, the target will continue to plot until it's hit by price OR a reverse signal is triggered!!!

Note - Like I said earlier, a tool such as this will aid your analysis for further refinement! For example a nice juicy trade signal was not generated because the sell rec price (orange line) was above the previous day's close (white dashed line) - Highlighted by the dashed violet circle on 12 Apr 18 at market open!

Anyhow .... The AFL is attached. Attendant usage instructions are in the AFL itself Be sure to read them prior usage!!!

Ordinarily, a pro grade 'as per specification(s)' coding with enhanced value additions would have set you back by a couple of grand!!! ..... But this is posted Gratis

Use it Wisely & Well!!!

Cheerio!!!