Support resistance based on today'S open - Amibroker AFL

M

Megatrader

Member
#1
#1



Condition 1:If price opens below low 1 , buy @ low 2 ( make sure price does nt break low 2) , if breaks very weak


Condition 2: If price opens above high 1 , short at or near High 2( Make sure price does nt break high 2) , if breaks very bullish

Condition 3: Some times price may form low @ Low 1 and raise upto High1 , if breaks then high 2

Condition 4: some time s price wont cross High1 , from there we can short for first target Low 1 , then low 2.
Click to expand...
Code: 
_SECTION_BEGIN("jmoney2");
SetChartOptions(0,chartShowArrows|chartShowDates);



GraphXSpace=Param("GraphXSpace",0,0,100,1);
    dec = (Param("Decimals",2,0,7,1)/10)+1;
SetChartBkColor(ParamColor("Outer Panel", colorBlack));
SetChartBkGradientFill(ParamColor("Upper Chart", colorDarkGrey), ParamColor("Lower Chart", colorDarkGrey));

Title = EncodeColor(55)+  Title = Name() + "     " + EncodeColor(32) + Date() +
"      " + EncodeColor(5) + "{{INTERVAL}}  " +
    EncodeColor(55)+ "     Open = "+ EncodeColor(52)+ WriteVal(O,dec) +
    EncodeColor(55)+ "     High = "+ EncodeColor(5) + WriteVal(H,dec) +
    EncodeColor(55)+ "      Low = "+ EncodeColor(32)+ WriteVal(L,dec) +
    EncodeColor(55)+ "    Close = "+ EncodeColor(7)+ WriteVal(C,dec)+
    EncodeColor(55)+ "    Volume = "+ EncodeColor(11)+ WriteVal(V,1);
///////////////////////


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

colorHighliter = IIf(C >= O, ColorRGB(0, 128, 0), ColorRGB(128, 0, 0));



CountTrendBars = 0;
CurrentBar = BarCount - 1;
dx0 = dx1 = dy0 = dy1 = 0;
sx0 = sx1 = sy0 = sy1 = 0;
//Price
SetBarFillColor(colorHighliter);
Plot(C, "Close", IIf(colorHighliter == ColorRGB(128, 0, 128), ColorRGB(255, 0, 255), IIf(colorHighliter == ColorRGB(128, 128, 0), ColorRGB(255, 255, 0), IIf(C > O, ColorRGB(0, 255, 0), IIf(C < O, ColorRGB(255, 0, 0), ColorRGB(255, 255, 255))))), styleCandle, Null, Null, 0, 0, 1);

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

FS=Param("MM Price Font Size",20,11,100,1);
Hor=Param("MM Price Horizontal Position",840,1,1200,1);
Ver=Param("MM price Vertical Position",10,1,830,1); 

  GfxSelectFont("tahoma", FS, 700, True ); 
   GfxSetBkMode( 1 );  
   GfxSetTextColor( colorLime); 
   GfxTextOut(""+C, Hor+29 , Ver);
   YC=TimeFrameGetPrice("C",inDaily,-1);
   DD=Prec(C-YC,2);
   xx=Prec((DD/YC)*100,2);
  GfxSelectFont("tahoma", 11, 700, True ); 
  GfxSetBkMode( 1 );  
  GfxSetTextColor(7); 
   GfxTextOut(""+DD+"  ("+xx+"%)", Hor+29 , Ver+29 );
//////////////////////////////////////////////////////////


DayH = TimeFrameGetPrice("H", inDaily, -1); 

DayL = TimeFrameGetPrice("L", inDaily, -1); 

DayC = TimeFrameGetPrice("C", inDaily, -1); 

DayO = TimeFrameGetPrice("O", inDaily);// current day open

///for High1////
N1=(DayC+DayH)/2;
N3=(N1/3)*2;
N5=DayO/3;
H1=N3+N5;H1I = LastValue (H1,1); // Resistance 1

///for LOW1////

O1 = (DayC+DayL)/2 ;
O3=(O1/3)*2;
L1=O3+N5; L1I = LastValue (L1,1); // Resistance 1

///FOR LOW2 & HIGH2///

H2=H1+(H1-L1)/0.6; H2I = LastValue (H2,1); // Resistance 1
L2=L1-(H1-L1)/1.6; L2I = LastValue (L2,1); // Resistance 1


Plot(H1,"",colorRed,styleLine|styleDots|styleNoRescale);
Plot(H2,"",colorRed,styleLine|styleDots|styleNoRescale);
Plot(L1,"",colorGreen,styleLine|styleDots|styleNoRescale);
Plot(L2,"",colorGreen,styleLine|styleDots|styleNoRescale);

numbars = LastValue(Cum(Status("barvisible")));
fraction= IIf(StrRight(Name(),3) == "", 3.2, 3.2);
hts = -33.5;

PlotText(" RESISTANCE 1 = " + WriteVal(H1,fraction), LastValue(BarIndex())-(numbars/Hts),H1I , colorRed);
PlotText(" RESISTANCE 2 = " + WriteVal(H2,fraction), LastValue(BarIndex())-(numbars/Hts),H2I, colorRed);
PlotText(" SUPPORT 1 = " + WriteVal(L1,fraction), LastValue(BarIndex())-(numbars/Hts),L1I, colorGreen);
PlotText(" SUPPORT 2 = " + WriteVal(L2,fraction), LastValue(BarIndex())-(numbars/Hts),L2I, colorGreen);


_SECTION_BEGIN("ema_crossover");
x = EMA(Close,20);
y = EMA(Close,48.50);
Plot(EMA(Close,20),"",colorRed,styleLine);
Plot(EMA(Close,48.50),"",colorBrightGreen,styleLine );
 Plot(EMA(Close,100),"",colorBlue,styleLine );

Buy=Cross(x,y);
PlotShapes(shapeUpArrow*Buy,colorGreen,0,L, Offset=-50);

 
Sell=Cross(y,x);
PlotShapes(shapeDownArrow*Sell,colorRed,0,H, Offset=-50);
AlertIf( Sell, "SOUND C:\\Windows\\Media\\chord.wav", "Audio alert", 2 );

 
_SECTION_END();
 
Last edited:
M

Megatrader

Member
#2
#2
This will predict the best trading level for intraday. use any other indicator or price action trading to take trading.

Note one thing


If you are in confusion of buy or sell.
Take a deep breath and smile its a million dollar Question
 
You must log in or register to reply here.
Thread starter Similar threads Forum Replies Date
kthakker0 Bank Nifty - Support / Resistance Options 13
T AFL based on Support and Resistance pivots Technical Analysis 0
M Support resistance based on today'S open version 2 AmiBroker 1
R position trading based on support resistance-anybody heard? Technical Analysis 0
S Simple Trading Based on Trend and Support/Resistance Levels Futures 40

Similar threads