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.

Modified Illango Strategy – Amibroker AFL code

15 sec read

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

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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25 Replies to “Modified Illango Strategy – Amibroker AFL code”

  1. Hi Sir,

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

  2. Rajandran Sir,

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

    A Follower,
    Krunal.

    1. @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

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

  4. Rajandran,

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

  5. Rajandran,

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

  6. @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.

  7. Rajandran,

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

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

  8. 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 ..

  9. 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

  10. 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

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