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You are here: Home / Amibroker / Modified Illango Strategy – Amibroker AFL code

Modified Illango Strategy – Amibroker AFL code

May 2, 2012 by Rajandran 25 Comments

Nifty Futures 5min charts

 
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.

High35=HHV(H,35);
Low35=LLV(L,35);
perHK= ((C-Low35)/(High35-Low35))*100;
AvgHK= MA(perHK,3);
EMAHK=WMA(EMA(AvgHK,9),9);

The Buy and Sell Conditions are

Buy = Cross(avgHK,EMAHK) AND diff>1 AND AvgHK>5 AND AvgHK<45; Sell = Cross(EMAHK,AvgHK) AND diff<-1 AND AvgHK>55 AND AvgHK<95; where diff = AvgHK-EMAHK

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.

Bsl= ValueWhen(Buy,LLV(L,3),1);
Ssl= ValueWhen(Short,HHV(H,3),1);

Plot(Bsl,”Bstop loss”,colorGreen);
Plot(Ssl,”Sstop loss”,colorRed);

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

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Filed Under: Amibroker Tagged With: AFL Code, Amibroker, Illango, Modified Illango Strategy, Stochastics

About Rajandran

Rajandran is a Full time trader and founder of Marketcalls & Co-Founder of Traderscafe, trades mostly using discretionary Trading Concepts like Market Profile, Trading sentimental analysis, building timing models, algorithmic trading models. Instructs professional traders, full time traders & aspiring full time traders. Rajandran attended college in the Chennai where he earned a BE in Electronics and Communications. Rajandran has a broad understanding of trading softwares like Amibroker, Ninjatrader, Esignal, Metastock, Motivewave, Market Analyst(Optuma),Metatrader,Tradingivew,Python and understands individual needs of traders and investors utilizing a wide range of methodologies.

Comments

  1. Samit says

    May 2, 2012 at 11:26 pm

    Thank you very Much for your efforts…
    God Bless. !!

    Reply
  2. kirtan Raut says

    May 2, 2012 at 11:28 pm

    Hi Sir,

    Another great post……Its been a pleasure to watch the goodies from your treasure chest…

    Reply
  3. Rajandran R says

    May 3, 2012 at 12:03 am

    Thanks Kirtan and Samit.

    The full credit goes to the master illango

    Reply
  4. sob says

    May 3, 2012 at 9:56 am

    dear
    sir thanks
    sir how can use this link in my ambibroker?????????

    Reply
  5. Krunal Gajjar says

    May 3, 2012 at 4:03 pm

    Rajandran Sir,

    Can these code be useful for MT4 Platform or sir, can you provide MT4 code…?

    A Follower,
    Krunal.

    Reply
  6. Rajandran R says

    May 3, 2012 at 4:08 pm

    Hi Krunal Gajjar,

    Will soon start coding the same indicator for MT4 too.

    Reply
  7. prakash says

    May 3, 2012 at 4:33 pm

    Sir

    How can i do this in Motivewave software?

    Reply
    • Rajandran R says

      May 3, 2012 at 5:31 pm

      @Prakash

      You need to wait for sometime. Motivewave is likely to bring custom indicator to implement our own strategies. More possibly motive wave 2.0 will be releasing this month

      Reply
  8. sometimesbullsometimesbear says

    May 3, 2012 at 8:11 pm

    Thks Raj. Is it possible to code this on excel since many would not be using ami or metastock platforms. Thks again.

    Reply
  9. SAM says

    May 4, 2012 at 11:54 am

    Rajandran,

    Really thanks for the AFL…. Can you do some modifications… like it gives two three buy and /or sell signals in a row.

    Reply
    • Rajandran R says

      May 4, 2012 at 12:07 pm

      @Sam

      Its a early version. Still looking into the possibilities of fixing the noise in the system.

      Reply
  10. SAM says

    May 4, 2012 at 11:57 am

    Rajandran,

    Thanks for the AFL… but can you fix the continuous two three buy or sell signals.

    Reply
  11. Rajandran R says

    May 4, 2012 at 1:43 pm

    @Sam

    If the stoploss doesnt hits then two-three buy or sell signals can be taken as one signal.
    But still removing excessive signals is not possible as it is designed in that way.

    Reply
  12. Sandeep says

    May 4, 2012 at 3:46 pm

    If this is the final version than Please share the backtest result sir…

    Reply
  13. Shital Patil says

    May 4, 2012 at 8:04 pm

    Thanks

    Reply
  14. SAM says

    May 5, 2012 at 10:14 am

    Rajandran,

    Probably .. if EXRIM function is used… then will it remove excessive Signals?

    Though I am not Tech Expert… I have read it somewhere..

    Reply
    • Rajandran R says

      May 5, 2012 at 10:36 am

      Yes Exrem removes excessive signals. But here it not the usual case.. EXREM cant be used here logically.

      Reply
  15. Manoj says

    July 31, 2012 at 10:57 am

    This is good that u create Amibroker AFL code Modified Illango Strategy .. i am using it .. can u draw Hr. KST Indicator and Day KST indicator AFL code from IIlango Excel File … if tht done it will be helpful to me ..

    Reply
  16. VISHALRAJ says

    November 27, 2012 at 10:42 am

    RAJENTHIRAN SIR YOUR SERVICE IS VERY VERY GOOD FOR BASIC TRADER LIKE ME ,
    PLEASE GIDE ME WHAT AFL IS GOOD FOR F&O , IF YOU GIVE YOUR MOBILE NUMBER ITS VERY HELF FULL FOR ME

    Reply
  17. Atiq says

    July 21, 2013 at 4:08 am

    Dear Mr. Rajandran,

    I am ardent follower of illango Sir blog and very much appreciate your idea to dedicate Amibroker AFL code in his name. My sincere request to you is to add a chart in your blog by name “JNSAR” for Nifty Spot which will help lot of sir followers to confirm their trade with your chart.

    Best Regards,
    Atiq

    Reply
  18. Manoj says

    March 4, 2014 at 1:40 pm

    Dear Sir ,
    Do you have same for MT4 ?

    Reply
    • Rajandran R says

      March 4, 2014 at 3:43 pm

      Nope one have to code it.

      Reply
  19. Deepak Kurup says

    April 29, 2014 at 1:00 pm

    Hi Rajandran,

    Can we backteast this strategy with Amibroker?

    Regards
    Deepak

    Reply
  20. Arun says

    September 9, 2014 at 10:58 am

    Can you please put backtest results by using strategy.
    In different timeframes.

    Thanks.

    Reply
  21. sobish says

    June 19, 2018 at 5:52 pm

    sir

    still this available i want subscribe ilango techniques

    Reply

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