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 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.
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.