something entirely new

[abhiwhy]

Do explain the three colours in your chart. And also kindly post a daily chart for the same period!!!
Thanks for giving your precious time for others to learn.
Expect to see more from you and Vishalluri on Technical Analysis tools!!

All the best

http://www.4shared.com/file/160116547/2a658a51/abhi_gread_and_fear.html

here i have placed daily , weekly chart along with metastock expert system ,u can import it in your metastock



amibroker afl


_SECTION_BEGIN ("ABHI GREAD FEAR ");

//////////////////////////////////////////////////////////////////
Plot(C, "", IIf( RSI(14)>55 , colorGreen, IIf(RSI(14)<45 ,colorRed, colorBlack)), ParamStyle("Price
Style",stylebar,stylethick));

//////////////////////////////////////////////////////////////////

Buy=Cross(RSI(14),55) ;

Sell=Cross(45,RSI(14)) ;

shape = Buy * shapeUpArrow + Sell * shapeDownArrow;


PlotShapes( shape, IIf( Buy, colorBlue, colorRed ));

MYcolor = IIf( RSI(14)>55 , colorGreen, IIf(RSI(14)<45,colorRed, colorBlack));

PlotOHLC( Open, High, Low, Close, "", Mycolor, styleBar);

_SECTION_END();