If you are a regular reader of my articles, then you know “I hate technical indicators”. They are a derivative of price action, nothing more than a mathematical complex paralysis. My clients frequently question me-“Hey do you use any indicator”? Most probably my reply will be no-because majority of you guys know, I am a pure Price action trader!
Here the Goal is to use Amibroker AFL to find the Percentage Number of bars which have closed higher then the previous bar out of total number of bars for a day in a selected time frame on Intraday basis. Positive Bars Percentage is generally a breath indicator used to gauge the Intraday Sentiment of a Particular stock/Index.Value above 80 indicates extreme positive sentiment and a value below 20 indicates extreme negative sentiment.