This AFL is dedicated to Mr Illango ( Author of Just Nifty ) and its followers. The AFL presented here is the modified version of 35 Bar Stochastics. And some custom changes to eliminate noise.
The Buy and Sell Conditions are
Buy = Cross(avgHK,EMAHK) AND diff>1 AND AvgHK>5 AND AvgHK<45>55 AND AvgHK<95>95>45>
And the Static stop loss is 3-Bar Low for Buy conditions and 3-Bar high for Sell Conditions. Discipline should be maintained when the 3Bar Low or High lines breaks during your trade. And it is advised to take trade decisions based on only one time frame at any point of time.
Though this trading system generates buy and sell arrows based, Sometimes you may miss the peak/Bottom when diff < |-1|. In such cases manual interference is necessary to trade those peaks . Still the code is not fully developed and bactesting is not possible with current trading conditions. But still its available for enhancement and to add your own ideas to the code to make it better. AFL code contains two files one shows the buy and sell signals based on the strategy and other shows the modified illango's indicator. Download Modified Illango Strategy AFL code
To Know how to trade based on the stochastics follow illango’s post Leading Technical Indicator – the Stochastics