Modified 5 EMA High-Low AFL code

I had recieved many complaints from few of the Amibroker users that the 5 EMA High-Low AFL code is not working. So had done some correction and few modifications in the code.

Nothing much modification but the old code contains continuous & Excessive Buy or Sell signal on the charts that has been removed in the newer version just buy adding the EXREM funtion and the buy are sell condition remains the same i.e buy above on close above 5 EMA high and sell below 5 EMA low.

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

Buy = ExRem( Buy, Sell );
Sell = ExRem( Sell, Buy );

Nifty 5 EMA High-Low Weekly Charts

Nifty Weekly charts are shown with 5EMA High-Low buy or sell signals. Currently Nifty is in buy mode on long term(Weekly time frame) with 5 EMA low supports near 5495 zone. Any close below that could warn a downtrend on longterm.

Download Modified 5 EMA AFL code

Powergrid and IDEA – Two stocks to watch for Very Long Term

Powergrid and IDEA monthly 5EMA high-low charts has been shown. Both the charts produces a buy signal last month. Powergrid longterm trend had changed to buy mode almost 12 months later and 5 months for IDEA. Currently both IDEA and Powergrid are trading above 5EMA high zone and 5EMA montly low zone could be the trailing long term supports Rs 67 and Rs 100 respectively. Long term investors can concentrate on these stocks for better investment.

Powergrid Monthly chart

IDEA Monthly chart

Related Readings and Observations

Rajandran R

Rajandran is a trading strategy designer and founder of Marketcalls, a hugely popular trading site since 2007 and one of the most intelligent blog in the world to share knowledge on Technical Analysis, Trading systems & Trading strategies. More From Rajandran R »

9 comments… add one

  • kalyan July 25, 2011, 7:55 pm

    glad to see u back in action in afl coding

    Reply
  • BestTrader July 26, 2011, 1:02 pm

    good one regarding afl code

    Reply
  • manan jhaveri November 1, 2011, 2:21 pm

    do you provide us candle graph chart with different EMA (3,13,34) for intraday tradeing.if is it possible then send detail site address, so we can study in detail. We are searching for same to evaluate the trend of further movement of a market of a particular of a company. Waiting your reply, till time thanking you.

    your’s

    MANAN JHAVERI – MUMBAI – INDIA

    Reply
    • Rajandran R November 2, 2011, 6:27 pm

      @Manan Jhaveri

      You can check out NSETracker for intraday realtime charts for nifty with parameters 13,34,55 EMA we had stopped using
      3min EMA as 3min EMA can be roughly taken as the candle itself

      Reply
  • gopiraj November 3, 2011, 10:23 am

    sir ur broco live update which site sir pay chart i want sir. then sir indicator i see zigzag indicator so i want buy sell indicator u creat and give me sir when ever zigzag come next candle buy sell indicator creat me sir how much cost u tell sir . sir see 30minites 60 minites timeframe see sir

    Reply
  • gopiraj November 3, 2011, 10:29 am

    thank and see mail give me mail sir what i telling u no sir 30 minites 60 minities u see zigzag come then buy sell signal u creat sir u r thise filed u r graet sir see then u give my mail sir.

    Reply
  • Anirudh January 11, 2012, 7:16 pm

    Do you have Backtest Report for the System?
    Whats is the Success Rate and Max Drwadown?

    Reply
  • ShriGanesh March 2, 2012, 6:42 pm

    Hi,
    I am trying to plot 2 EMAs using AFL, one is from 5 min and other is from 60 min.
    I don’t think Amibroker is plotting MA from 60 Timeframe properly, it shows up as a step where as I was expecting it to be a smoothish one, Here is the code and the result is shown in the image.
    Am I missing something here? Can you please help?
    Look forward to your response and help.
    thanks a ton in advance.

    CODE
    TimeFrameSet( in5Minute ); // switch to 5 minute frame

    /* MA now operates on 5 minute data, ma5_13 holds time-compressed 13 bar MA of 5min bars */

    ma5_13 = MA( C, 13 );

    TimeFrameRestore(); // restore time frame to original

    TimeFrameSet( inHourly ); // switch now to hourly

    mah_9 = EMA( C, 9 ); // 9 bar moving average from hourly data

    TimeFrameRestore(); // restore time frame to original

    // plot expanded average

    Plot( TimeFrameExpand( ma5_13, in5Minute), “13 bar moving average from 5 min bars”, colorRed );

    Plot( TimeFrameExpand( mah_9, inHourly), “9 bar moving average from hourly bars”, colorBlue );

    Reply
  • ShriGajanan March 2, 2012, 6:52 pm

    Please see the AFL code below and attached image, i was expecting the MA from 60 min TF to be smoothened just like other EMA is there anything wrong in the code? Please help.

    TimeFrameSet( in5Minute ); // switch to 5 minute frame

    /* MA now operates on 5 minute data, ma5_13 holds time-compressed 13 bar MA of 5min bars */

    ma5_13 = MA( C, 13 );

    TimeFrameRestore(); // restore time frame to original

    TimeFrameSet( inHourly ); // switch now to hourly

    mah_9 = EMA( C, 9 ); // 9 bar moving average from hourly data

    TimeFrameRestore(); // restore time frame to original

    // plot expanded average

    Plot( TimeFrameExpand( ma5_13, in5Minute), “13 bar moving average from 5 min bars”, colorRed );

    Plot( TimeFrameExpand( mah_9, inHourly), “9 bar moving average from hourly bars”, colorBlue );

    Reply

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    • Rajandran is a Market Analyst and founder of Marketcalls, one of the most intelligent blog in the world to share knowledge on Technical Analysis, Trading systems & Trading strategies.