Comments on: Simple AFL code for 5 EMA(High-Low)

By: Aliasgar

Aliasgar — Thu, 18 Mar 2010 08:08:13 +0000

Hello Rajendran,

Please paste again full AFL with modification suggested by above members.

Or I should use below code.

=======================================================================
_SECTION_BEGIN(“5 EMA High-Low”);
SetChartOptions(0,chartShowArrows|chartShowDates);
_N(Title = StrFormat(“{{NAME}} – {{INTERVAL}} {{DATE}} Open %g, Hi %g, Lo %g, Close %g (%.1f%%) {{VALUES}}”, O, H, L, C, SelectedValue( ROC( C, 1 ) ) ));
Plot( Close, “Close”, ParamColor(“Color”, colorBlack ), styleNoTitle | ParamStyle(“Style”) | GetPriceStyle() );

Buy = Cross(Close,EMA( Low , 5 ));
Sell = Cross(EMA( High , 5 ),Close);

PlotShapes(IIf(Sell==1, shapeDownArrow, shapeNone), colorRed, 0,High, Offset=-20);
PlotShapes(IIf(Buy==1, shapeUpArrow , shapeNone), colorGreen, 0,Low, Offset=-20);
Plot( EMA( Low,5), “5 EMA LOW”,ParamColor(“Color”, colorBlue ),styleNoRescale);
Plot( EMA( High,5), “5 EMA High”,ParamColor(“Color”, colorBlue ),styleNoRescale);
_SECTION_END();
=======================================================================

Thanks,
Aliasgar

By: Rajandran R

Rajandran R — Wed, 17 Mar 2010 12:39:52 +0000

Dipak,
It works fine for me. Its all the basic codings. So it should work in all versions of amibroker too

By: dipak

dipak — Wed, 17 Mar 2010 08:23:34 +0000

Sir,

This code is not working. Giving the error at 1st & Last line. Error 31. Syntax error, expecting ‘)’ or’,’

Regards,

Dipak

By: Rajandran R

Rajandran R — Mon, 15 Feb 2010 11:04:39 +0000

Dinesh, I tried for hourly, Daily and Weekly yielding good results. to know how to trade this afl just visit this post Simple Rules to Trade Using 5 EMA(LOW-HIGH)

By: dinesh

dinesh — Sun, 14 Feb 2010 15:21:36 +0000

hi thanks for afl. pls explain how to trade with help of this afl. on which scripts gives good results?

By: Rajandran

Rajandran — Sun, 27 Dec 2009 19:56:21 +0000

if the signal density is high then your profit potential is very low

By: Rajandran

Rajandran — Sun, 27 Dec 2009 19:54:43 +0000

@ShyamWe should not try to create more buy/sell signals.As this would create a mess. The scope of creating a buy/sell signal is to identify turns earlier and to generate potential profits. If you include 5 EMA signals also then it would probably create a mess and finally ends in confusion(i.e should we have to believe this signal or not)

By: Market Hypothesis

Market Hypothesis — Sun, 27 Dec 2009 17:03:33 +0000

More modification done in Buy sell.Buy = Cross(Close,EMA( Low , 5 ))OR Cross(Close,EMA( High , 5 )); Sell = Cross(EMA( High , 5 ),Close)OR Cross(EMA( Low , 5 ),Close);It works fine in hourly and daily chart. I have added your earlier Buy Sell signal conditionally because if turn around happened within the band then this conditional extension is required.

By: Rajandran

Rajandran — Sun, 27 Dec 2009 15:36:30 +0000

Iam sorry iam not getting any false signal on 16-12-2009

By: Market Hypothesis

Market Hypothesis — Sun, 27 Dec 2009 15:08:26 +0000

One more modification is required. Just open daily Nifty Chart and just watch 16-12-2009. it has given false signal. I do not know how to omit it but this type of false signal can be omitted.If possible then it will be great trading system.Thanks