Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

ADXxBollingerband – Amibroker AFL code

1 min read

ADXxBollingerband indicator is derived using ADX and Bollinger Bandwidth. It is yet another cross coding conversion from MQL4 code to Amibroker AFL code. And ADXxBollingerband is inspired from Waddah Attar ADXxBollinger Indicator one of the most popular indicator among opensource mql4 community.

ADX Interpretation
The Average Directional Index (ADX) is used to measure the strength or weakness of a trend, not the actual direction. Directional movement is defined by +DI and -DI. In general, the bulls have the edge when +DI is greater than – DI, while the bears have the edge when – DI is greater

Bollinger Bandwidth

Bollinger BandWidth measures the difference between the upper band and the lower band. BandWidth decreases as Bollinger Bands narrow and increases as Bollinger Bands widen. Because Bollinger Bands are based on the standard deviation, falling BandWidth reflects decreasing volatility and rising BandWidth reflects increasing volatility. Securities with low volatility will have lower BandWidth values than securities with high volatility.

Sample Nifty Spot Charts with the Trend Strength Turned Just Positive
Nifty ADXxBollinger

 
ADXxBollinger

1)If +DI>-DI then ADX x Bollinger Bandwidth value represents bullishtrend with increase in histogram bar shows increase in volatility and trendstrengh i,e increase in bollinger bandwidth and on contrast decrease in histogram bar suggests decrease in volatility followed by decrease in trendstrength. It is shown as green colour histogram bars in the chart.

2)If -DI>+DI then ADX x Bollinger Bandwidth value represents bearishtrend with increase in histogram bar shows increase in volatility and trendstrengh i,e increase in bollinger bandwidth and on contrast decrease in histogram bar suggests decrease in volatility followed by decrease in trendstrength. It is shown as red colour histogram bars in the chart.

Download ADXxBollinger Band AFL code

Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

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6 Replies to “ADXxBollingerband – Amibroker AFL code”

  1. Mr. Rajandran, how should I place buy and sell signals? which configuration would you use? Thank you.

  2. dear sir,
    for swing trading which indicator can work with amibroker?.
    and where can i get 3 level semafor indicator for amibroker?
    expecting ur favourable reply

    thank you

  3. helo sir,
    There are one AFL named – AR Trading system available in the market, But they are charging very high. Can you provide the same afl on marketcalls.in ?
    Thanking you.
    Hitul Shingala

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