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**Tuesday, July 20, 2010
**

Darvas Box Theory And Amibroker Formula

What Does Darvas Box Theory Mean? A trading strategy that was developed in 1956 by former ballroom dancer Nicolas Darvas. Darvas' trading technique involved buying into stocks that were trading at new 52-week highs with correspondingly high volumes. A Darvas box is created when the price of a stock rises above the previous 52-week high, but then falls back to a price not far from that high. If the price falls too much, it can be a signal of a false breakout, otherwise the lower price is used as the bottom of the box and the high as the top. In 1956, Darvas was able to turn an investment of $10,000 into $2 million over an 18month period. While traveling for his dancing, Darvas would obtain copies of The Wall Street Journal and Barron's, but he would only look at the stock prices to make his decisions. It has been said that Darvas was less happy about the profits that he made than he was about the ease and peace of mind that he got from implementing his system. (Definition courtesy - Investopedia)

The Amibroker formula for Darvas Box is as follows: //*********************************** _SECTION_BEGIN("Darvas Box"); box1=0; box2=0; SetBarsRequired(10000,10000); procedure fillDarvas(start,end,swap,top, bottom ) { for ( j = start; j < end; j++) { if( box1[j] == swap) box1[j]= top ; else box1[j]= bottom; if(box2[j] == swap) box2[j]= bottom ; else box2[j]= top; } } BoxArr1 = 0; BoxArr2 = 0; StateArray = 0; DBuy = 0; DSell = 0; TopArray = 0; BotArray = 0; tick=0; BoxTop = High[0]; BoxBot = Low[0]; swap=0; state = 0; BoxStart = 0; for (i=0; i<(boxbot*(1tick="" (state="=5)" 100))="" botarray[i]="BoxBot;" high[i]="" i++)="" if="" toparray[i]="BoxTop;" {="" ||="">(BoxTop*(1+tick/100))) { fillDarvas(BoxStart,i,swap,BoxTop,BoxBot); state = 1; swap = !swap; BoxTop = High[i]; BoxStart = i; } } else { if (High[i]<3)="" (low[i]="" if="" {="" ||="">BoxBot)) { state++; } else { state=3; } if (state==3) BoxBot=Low[i];

} else { state=1; BoxTop=High[i]; } } StateArray[i] = state; } fillDarvas(BoxStart,BarCount,swap,BoxTop,BoxBot); Plot( box1, "" , 1 + statearray, styleThick); Plot( box2, "" , 1 + statearray , styleThick); _SECTION_END(); //*********************************** More formulas are welcome from your side. Can mail me new Amibroker formulas at stockmaniacs@ymail.com. If I think the formula is worth publishing the same will be published here. If possible also send your screenshot of the indicator. Posted by Indrajit Mukherjee at 1:41 PM 0 comments Links to this post Labels: Amibroker formula, Darvas Box Share the post with the world: 0diggsdigg Stumble Delicious Technorati Facebook

**Friday, July 16, 2010
**

Calculating Smart Money Flow By Twigg's Money Flow Indicator

How To Judge Where Smart Money Is Moving? Smart money flow can be judged by using Twigg's Money Flow indicator and we can decide where the smart money is moving against the dumb money. You can make your own smart money flow index using this indicator. Check the image below (image courtesy http://www.wallstreetcourier.com/):

Twiggs Money Flow warns of breakouts and provides useful trend confirmation. It is based on the observation that buying support is normally signaled by:

•

Increased volume and

•

Frequent closes in the top half of the daily range.

**Likewise, selling pressure is evidenced by:
**

• •

Increased volume and Frequent closes in the lower half of the daily range.

Now check the image below of Nifty future:

The Amibroker formula for Twigg's Money Flow is as follows: //***************************************** _SECTION_BEGIN("Twigg's Money Flow"); periods = Param( "Periods", 21, 5, 200, 1 ); TRH=Max(Ref(C,-1),H); TRL=Min(Ref(C,-1),L); TR=TRH-TRL; ADV=V*((C-TRL)-(TRH-C))/ IIf(TR==0,9999999,TR); WV=V+(Ref(V,-1)*0); SmV= Wilders(WV,periods); SmA= Wilders(ADV,periods); TMF= IIf(SmV==0,0,SmA/SmV); Plot( TMF, _DEFAULT_NAME(), ParamColor("color", colorCycle ), ParamStyle("Style") ); _SECTION_END(); //***************************************** More formulas are welcome from your side. Can mail me new Amibroker formulas at stockmaniacs@ymail.com. If I think the formula is worth publishing the same will be published here. If possible also send your screenshot of the indicator. Posted by Indrajit Mukherjee at 12:25 PM 2 comments Links to this post Labels: Amibroker formula, Nifty Trading Share the post with the world: 0diggsdigg Stumble Delicious Technorati Facebook

Thursday, July 15, 2010

Andrews' Pitchfork

Andrews' Pitchfork is a method of channel identification in a trending market. I was experimenting to learn this technique of drawing Andrew's pitchfork on the charts. Lets learn together.

• •

This technique, in effect, splits a major channel into two minor equidistant channels. The lines in the Pitchfork tend to delineate lines of support and resistance.

Andrews' Pitchfork was developed by Dr. Alan Andrews, based on what he called his "Action/Reaction" techniques. Originally called the "Median Line Study," this pattern is based on a set of lines drawn from peaks and valleys on a price chart. When linked together, the arrangement of lines closely resembles a farmer's pitchfork. Dr. Andrews' median lines, and the pitchfork pattern, often indicate lines of support or resistance where prices tend to stall out or reverse.

Andrews' Pitchfork can be plotted on a price chart in your favourite software Amibroker as follows: 1. First, identify a significant reversal point (high or low) and this becomes Point A. 2. Draw a line (shown in red) from this point to the next significant reversal point; at Point B. 3. Then plot a line from a significant point early in the trend (Point C) bisecting the first line half way between Points A and B. This is the Median Line or "handle" of the Pitchfork. 4. Now, draw two lines parallel to the Median Line, one starting from Point A and the other from Point B. These form the "tines" of the Pitchfork. 5. Now you have Andrews' Pitchfork on your charts. Your comments in this regard will be highly appreciated. Posted by Indrajit Mukherjee at 1:57 PM 1 comments Links to this post Labels: Andrew's Pitchfork, Trading Tutorial Share the post with the world: 0diggsdigg Stumble Delicious Technorati Facebook

**Wednesday, July 14, 2010
**

How FIIs Trade? What Is Algorithmic Trading Or Algo Trading Or Robo Trading?

What Does Algorithmic Trading Mean? A trading system that utilizes very advanced mathematical models for making transaction decisions in the financial markets. The strict rules built into the model attempt to determine the optimal time for an order to be placed that will cause the least amount of impact on a stock's price. Large blocks of shares are usually purchased by dividing the large share block into smaller lots and allowing the complex algorithms to decide when the smaller blocks are to be purchased. The use of algorithmic trading is most commonly used by large institutional investors due to the large amount of shares they purchase everyday. Complex algorithms allow these investors to obtain the best possible price without significantly affecting the stock's price and increasing purchasing costs. (Definition by Investopedia) Program trading, automatic order generators and automated order routing systems are used mainly by sell sell-side firms to conduct business as:

• • •

Principal/proprietary trading Agency/customer facilitation In: Equities, Fixed Income, Futures and Options

Buy programs occur when the futures market is overvalued, relative to the cash market. Sell programs occur when the cash market is overvalued, relative to futures. Source NYSE: Computers do at warp speed what traders used to do by hand– e.g.:

• • • •

Auto-quoting options across 100 price points. A large percentage of order flow arrives via computer to computer API’s. Proprietary trading systems can bombard an electronic trading system with high burst rates of orders/second. Volume created by program trading engines has become the dominant mode of trading (*now >50% average daily NYSE volume).

Buy-side firms focusing on trading strategies that involve a combination of equities, fixed income and/or derivative instruments that lower overall trading costs and risks when

traded together. More sell-side firms offering program trading functions to compete/attract more order flow. Sell side firms moving deeper into the aggregation business:

• • • •

Provide buy side clients with the ability to diversify risk, get comprehensive pricing, acquire research, increase anonymity, maintain relationships, etc. Integrate algo trading strategies into OMS and front end trading systems: Buy side users want to use algorithmic strategies to split up large orders into smaller ones, to reduce market impact. Algos for VWAP (Volume Weighted Average Price), TWAP (Time Weighted Average Price), small-cap illiquid, mid-cap liquid, passive, aggressive, etc.

All major softwares nowadays - Amibroker, Metastock etc. can perform auto-trading provided the right algorithm is provided to the software. For more details on the subject and to go deeper your comments are welcome or mail us at stockmaniacs@ymail.com on know-how on mechanical or auto-trading. Posted by Indrajit Mukherjee at 10:41 PM 2 comments Links to this post Labels: Algo Trading, Auto Trading, Robo Trading Share the post with the world: 0diggsdigg Stumble Delicious Technorati Facebook

**Tuesday, July 13, 2010
**

Opening Range Breakout

What is opening range breakout (ORB)? 1. It identifies the highest price and lowest price reached since open upto the Start Time, 2. Long on a stop at the highest price and short on a stop at the lowest price obtained in #1, 3. Only trade once per direction, so at most 1 long and 1 short positions taken per day, 4. Always exit at the end time of the day, 5. When the range of current trading session is above certain threshold of the average range of the previous trading days, no trade is taken for the day.

Here is the amibroker formula for ORB. It calculates the first hour range breakout and initiates trades accordingly. //*************************************** _SECTION_BEGIN("ORB"); //www.stockmaniacs.net //Mail To: stockmaniacs@ymail.com breakoutime = 100000; afterbreakout0 = Cross(TimeNum(),100000); afterbreakout1 = TimeNum()>=100000; NewDay = Day()!= Ref(Day(), -1); highestoftheday = HighestSince(newday,H,1); Lowestoftheday =LowestSince(newday,L,1); ORBHigh = ValueWhen(afterbreakout0,highestoftheday,1); ORBLow = ValueWhen(afterbreakout0,lowestoftheday,1); Buy= Cross(C,orbhigh) AND afterbreakout1; Sell = Cross(orblow,C) AND afterbreakout1; Buy=ExRem(Buy,Sell); Sell=ExRem(Sell,Buy); Short=Cross(C,ORblow) AND afterbreakout1; Cover=Cross(ORbhigh,C) AND afterbreakout1; Plot(C,"",colorYellow,styleBar); PlotShapes( shapeUpArrow * Buy, colorGreen,0,L,-12); PlotShapes( shapeDownArrow * Sell, colorRed,0,H,-12); Plot(afterbreakout0,"",colorBlue,styleHistogram|styleOwnScale); Plot(ORBHigh,"",colorGreen,styleDots); Plot(ORBLow,"",colorRed,styleDots); _SECTION_END(); //*************************************** More formulas are welcome from your side. Can mail me new Amibroker formulas at stockmaniacs@ymail.com. If I think the formula is worth publishing the same will be published here. If possible also send your screenshot of the indicator. Posted by Indrajit Mukherjee at 2:24 PM 0 comments Links to this post Labels: Amibroker formula, Opening Range Breakout, ORB Share the post with the world: 0diggsdigg Stumble Delicious Technorati Facebook

**Friday, July 9, 2010
**

BHARTIARTL - Classic Example Of Extreme Price Movement

I always have written in my earlier posts that making money in the stock market is nothing but catching extreme price movement and doing exactly opposite to the people. One small example is BHARTIARTL. I have attached today's live daily chart of

BHARTIARTL below. Now how to find extreme price movement. Only two tools are necessary. Daily Bollinger Bands (20,2) and 2-Period RSI (normal RSI is by default of 14 period in many charting softwares, just change the period to 2). Bollinger Band theory says 90% of the price actions has to be inside the Bollinger Bands and any action beyond the bands are consideded as extreme, and 2-Period RSI denotes short term overbought and oversold levels. Value close to zero is considered to be highly oversold, and value close to 100 is considered as highly overbought. Check for BHARTIARTL this value is 99+.

Now check the today's image BHARTIARTL is trading completely outside its daily Bollinger Bands with a 2-Period RSI value close to zero. Prive always tends to revert to its mean. We can take the top of Bollinger Bands (currently at 287) as the mean (remember this mean may change with time, so dont be so sure about target). Some other traders take 5-day EMA or 5-day SMA as the mean. So its a positional short selling opportunity in BHARTIARTL till it reverts to its mean. Disclaimer: This write-up is just for education purpose of fellow traders and should not be used as any kind of consultaion to buy or sell securities of any kind. Posted by Indrajit Mukherjee at 1:33 PM 3 comments Links to this post Labels: 2 Period RSI, Bollinger Bands, RSI-2 Share the post with the world: 0diggsdigg Stumble Delicious Technorati Facebook

**Thursday, July 8, 2010
**

Dow Jones And Sensex Update (EOD 7th July 2010)

The week started quitely because of Independence Day holidays, but four of the big five (US, UK, China and Japan) initially signaled a bear market, with only the DAX holding out. Of secondary markets reviewed, only India and South Korea remained positive. The weight of evidence is still clearly in favor of another bear market, but the current trend needs some more confirmation.

Long tails on last week's Thursday and Friday indicated some buying support on the Dow — and on Wednesday night as expected it found retracement to test the new resistance level at 10000. Immediate resistance now comes around 10350-10450 and now fresh close above the zone will re-initiate buying, whereas failure to hold 9650 zone in closing basis will confirm bearish signals.

The Sensex remains more bullish than most other global markets and narrow consolidation below resistance at 18000 indicates an upward breakout above 1800018200 can target of 20000. On the other hand failure cross 18000-18200 and failure to hold 17150 on closing basis will take it down towards 16800-16700. Posted by Indrajit Mukherjee at 1:18 PM 0 comments Links to this post Labels: Dow, Sensex Share the post with the world: 0diggsdigg Stumble Delicious Technorati Facebook

**Wednesday, July 7, 2010
**

Nifty Trading With TRIN (Traders Index)

Arms Index also known as the TRIN or Short-Term Trading Index, the Arms Index is a breadth indicator developed by Richard W. Arms in 1967. The index is calculated by dividing the AD Ratio by the AD Volume Ratio. Typically, for India these breadth statistics are derived from NSE or BSE data, but the Arms Index can be calculated using breadth statistics from other indices such as for USA Dow Jones, S&P 500 or Nasdaq 100. Because it acts as an oscillator, the indicator is often used to identify short-term

overbought and oversold situations. A moving average is often applied to smooth the data. The terms Arms Index and TRIN are used interchangeably in this article. Calculation of TRIN: (advances / declines) / (up volume / down volume) As a ratio of two indicators, the Arms Index reflects the relationship between the AD Ratio and the AD Volume Ratio. The TRIN is below 1 when the AD Volume Ratio is greater than the AD Ratio and above 1 when the AD Volume Ratio is less than the AD Ratio. Low readings, below 1, show relative strength in the AD Volume Ratio. High readings, above 1, show relative weakness in the AD Volume Ratio. In general, strong market advances are accompanied by relatively low TRIN readings because up volume overwhelms down volume to produce a relative high AD Volume Ratio. This is why the TRIN appears to move "inverse" to the market. A strong up day in the market usually pushes the Arms Index lower, while a strong down day pushes the Arms Index higher. The settings for overbought and oversold depend on the smoothing of the Arms Index. An unadulterated Arms Index will be more volatile and require a larger range to identify overbought/oversold conditions. A 10-period SMA of TRIN smooths the data and can be used reading from 10-period SMA of TRIN where a smaller range is needed to generate overbought/oversold signals. As such, oversold levels are preferred in order to generate bullish signals in the direction of the bigger uptrend. End of day chart of 10-period SMA of Nifty TRIN is available at our site in the Market Breadth Charts section. You can use it for predicting short term movement of Nifty index. (Some part of the write ups are taken from TRIN section of StockCharts). Posted by Indrajit Mukherjee at 12:06 PM 0 comments Links to this post Labels: Nifty Trading, Trading Tutorial, TRIN Share the post with the world: 0diggsdigg Stumble Delicious Technorati Facebook

**Tuesday, July 6, 2010
**

Turtle Trading Technique

Before looking at the rules for this pattern, let's talk about its background. In the 1980s, a group of traders known as the Turtles used a system that basically employed a 20-day breakout of prices. A four-week price breakout was also earlier popularized by Richard Donchian as a standard trend following strategy. If prices made a new 20-day high, one would buy; if prices made a new 20-day low, one would sell. It tends to work in the long run if traded on a large basket of markets because there are high odds that something unusual will occur in a market somewhere, such as a Persian Gulf War (crude oil), or a freeze (coffee). The system is very dependent on capturing an extraordinary event or significant trend. However it also tends to have very large drawdowns and a low win-loss ratio due to the significant number of false breakouts.

According to the turtle trading system, the shorter term entry system based on a 20-days breakout and exit is designed as per 10-days low. Traders can easily write a formula for daily charts as follow. H > Ref(HHV(H, 20), -1) OR L < Ref(LLV(L, 20), -1); H = Today's high; L = Today's low HHV(H, 20) = Highest value that the high price (H) has reached in the last 20 days. LLV(L, 20) = Lowest value that the low price (L) has reached in the last 20 days. Ref(HHV(H, 20), -1) = The highest high price in the last 20 days refer to yesterday. Ref(LLV(L, 20), -1) = The lowest low price in the last 20 days refer to yesterday. If traders want a list of securities that match the turtle exit system, 10-days low for long positions and 10-days high for short positions. The formula will be as follow. L < Ref(LLV(L, 10), -1) OR H > Ref(HHV(H, 10), -1); These are examples of how to apply trading systems by using MetaStock formula. Besides The Explorer, traders can also write the formula in other tools such as Expert Advisor or Indicator Builder as well. Posted by Indrajit Mukherjee at 2:01 PM 0 comments Links to this post Labels: Metastock exploration, Metastock formula, Trading Tutorial Share the post with the world: 0diggsdigg Stumble Delicious Technorati Facebook

**Saturday, July 3, 2010
**

10 Trading Rules Outlined By Larry Connors

Think Differently

Rule 1 – Buy Pullbacks Not Breakouts After the market has dropped three days in a row, it has risen more than 4 times it’s average weekly gain over the next five trading days. After the market has risen three days in a row, it has on average lost money over the next five trading days. Rule 2 – Buy The Market After It’s Dropped; Not After It’s Risen After the market has dropped three days in a row, it has risen more than 4 times it’s average weekly gain over the next five trading days. After the market has risen three days in a row, it has on average lost money over the next five trading days. Rule 3 – Buy Stocks Above Their 200-Day Moving Average, Not Below This rule is not fool-proof. Many good stocks represent real value below the 200-day MA but it’s easier and less

stressful to follow this rule. Large losses can be prevented by following this rule. Rule 4 – Use The VIX To Your Advantage…Buy The Fear, Sell The Greed If SPY or S&P 500 (or SPX) is above it’s 200-day moving average, the higher the VIX is above it’s 10-day simple moving average it’s more likely oversold and a rally is near. The VIX 5% rule - If 5% above it’s 10-day SMA, buy the market. - If 5% below it’s 10-day SMA, lock in gains (and don’t buy). Rule 5 – Stops Hurt The tighter your stops, the less money you will make. The wider your stops, the better. You can control losses with position size and money management. Rule 6 – It Pays To Hold Positions Overnight During the test period, buying the SPY on the open and selling the same day’s close lost –70.88 points. Buying the SPY on the close and selling on the open gained 171.40 points. Rule 7 - Trading With Intra-Day Drops Making Edges Even Bigger The greater the intra-day momentum to the upside, the worse the performance has been over the next five days. The greater the intra-day selloff, the better the performance over the next five days. Rule 8 - The 2 Period RSI The Traders Holy Grail of Indicators For stocks below their 200-day moving average, a 2-period RSI above 90 should not be bought. Aggressive traders might prepare to short them. Vice versa for stocks above 200day moving average and readings below 10 are oversold. Readings beyond these are even better. These were tested up to one week. Trades held one week did better than less time. Rule 9 - Double 7’s Strategy If the SPY is above it’s 200-day moving average and it closes at a 7-day low, buy. If it closes at a 7-day high, sell your long position. Rule 10 - The End Of The Month Strategy For stocks above their 200-day moving average, gains are higher on the following days of the month, in order from highest to lowest, 25, 24, 1, 27, 26, 29, 28, 30, and are lowest on 3 through 8. If stock dropped the previous day, the best days are 25, 30, 27, 26, 24, 28, 29, 22, 1, 31. If stock dropped two or more consecutive previous days, the best days are 25, 26, 24, 27, 30, 28, 29, 23, 1, 22, 19, 31, 18. Posted by Indrajit Mukherjee at 2:59 PM 0 comments Links to this post Labels: Trading Tutorial Share the post with the world: 0diggsdigg Stumble Delicious Technorati Facebook

Wednesday, June 30, 2010

**Smooothed CCI (Amibroker Formula)
**

This is a modified version of the CCI indicator. When CCI Line touches -100 (Green Line) and cross signal line I think it is best buy and vice versa. Here is a screenshot of how the indicator looks:

And this is the code: _SECTION_BEGIN("Smooth CCI"); ///// Smooth CCI ////// x=Param("CCI Period 3 - 50",14,3,50,1); x1=CCI(x); Y=Param("Smooth Factor 3 - 15",7,3,15,1); Y2=DEMA(x1,Y); Z=Param("Signal Line 3 - 9",3,3,9,1); Z2=MA(Y2,Z); Plot(X1,"CCI",colorDarkGrey); Plot(Y2,"Smooth CCI",colorOrange,styleDots,4); Plot(Z2,"Signal",colorDarkYellow,4); Plot(100,"",colorRed,styleThick);//styleNoLabel Plot(0,"",colorWhite,styleDashed);//styleNoLabel); Plot(-100,"",colorGreen,styleThick);//styleNoLabel); _SECTION_END(); _SECTION_BEGIN("Background_Setting"); SetChartBkGradientFill( ParamColor("BgTop", colorBlack), ParamColor("BgBottom", colorBlack),ParamColor("titleblock",colorDarkTeal )); _SECTION_END(); More formulas are welcome from your side. Can mail me new Amibroker formulas at stockmaniacs@ymail.com. If I think the formula is worth publishing the same will be published here. If possible also send your screenshot of the indicator. Posted by Indrajit Mukherjee at 1:03 PM 0 comments Links to this post Labels: Amibroker formula

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**Friday, June 25, 2010
**

What Is Revenge Trading - And How To Avoid It?

Every time I hit a patch of losing trades, part of me feels I want to get out quickly and then make it back in another trade, but because of revenge trading that can occur I do not trade. Nevertheless, I still feel very uneasy and impatient. How can I stop this? Before actually answering the question, I want to look at two points contained within the email. The first is this idea of “revenge trading.” I assume this means that the trader gets angry when a loss occurs, and to assuage that anger, the trader makes a trade without truly thinking it through, which is not a good idea, to be sure. The writer obviously gets that trading emotionally is a bad thing, which is the second point I want to mention – trading on emotion is a bad thing. To answer your question, the only thing I can tell you is sit back, close your eyes, and go to a happy place when you feel uneasy and impatient. Keep in mind, always, impatience is simply the feeling you have when you want things out of your control to be in your control. Thus, going to a happy place is within your control, so do it and the feeling of things being out of your control just might go away. At a minimum, it will clear your head enough to let you reason your way through. My general and abstract answer assumes one is in control of his or her basic emotional state, meaning they have the ability to see where they are in a moment, to analyze their feelings in the context of that moment, and then to act to manipulate those feelings in that moment. Oh, and one more thing – to manipulate your emotions, you have to want to make a change. Unfortunately, some folks revel in their discomfort. In some deep-seated way, not moving from a negative place to a positive place serves their emotional/mental needs. If you continue to have this problem, ask yourself, are you one of those who simply does not want to change? (Excerpts from latest edition from Ask Trader Ed magazine) Posted by Indrajit Mukherjee at 9:22 PM 0 comments Links to this post Labels: Revenge Trading Share the post with the world: 0diggsdigg Stumble Delicious Technorati Facebook

**Thursday, June 24, 2010
**

Candlestick Analysis - DOJI

One of the most recognized one-day reversal patterns is the doji. On a candlestick chart, a doji resembles a cross because it has little to no body.

When a doji appears on a chart, it usually means the opening and closing prices of the candlestick were identical. This means that the market reached the end of the trend and temporarily balanced. Usually, the markets tend to reverse after a doji appears, although signifi cant market pressure on one side may postpone the reversal briefly.

There are many variations of the doji. For example, the long-legged doji has long upper and lower shadows that show the level of trader indecision in the market. When a doji appears midway through an up or down trend, the pattern is called a rickshaw man. Often, the appearance of this doji means that the trend is about to reverse suddenly. A paper umbrella is a doji candlestick with a small body and a long lower shadow. When this type of doji appears at the top of an uptrend, it is called a hangman. When a paper umbrella appears at the bottom of a downtrend, it is called a hammer. A doji may also appear with other patterns that indicate reversal trends in the market. Whenever a doji appears, traders should watch the market and prepare for a reversal. (Tutorial courtesy - GFT) Posted by Indrajit Mukherjee at 2:04 PM 0 comments Links to this post Labels: Candlestick Patterns Share the post with the world: 0diggsdigg Stumble Delicious Technorati Facebook

**Tuesday, June 22, 2010
**

Market Profile - Amibroker Formula

According to Brett Steenbarger Market Profile is a tool for organizing time and price data, graphically representing how volume builds at various prices over time. When we see most trades occurring within a relatively narrow range of prices, we know that the market is in balance. Price will probe the edges of this balance area--called the value area--as markets constantly update their estimates of value. If prices higher or lower than value cannot facilitate trade (i.e., if higher prices don't attract buyers or lower prices don't attract sellers), we will tend to trade back into the value area. If these probes to the edges

of the value region do facilitate expanded trade, we will break free of the value area in a trending move. That trend will continue until sufficient sellers or buyers perceive value in the new prices and take the other side of the trade, beginning the process of forming a new region of balance. The formula is as follows: _SECTION_BEGIN("MarketProfile"); //-----------------------------------------------------------------------------// // Formula Name: Market Profile // // Use with 5/15min chart // Originial - From AFL library // Edited by - Milind / KAKA //Market Profile 9/12/2009 PlotOHLC(O,H,L,C,"Price",IIf(C>O,colorGreen,colorRed),styleCandle); EnMP2= ParamList("MarketProfile","Solid|Lines|Letters"); styleLines = ParamStyle("Style", styleLine, maskAll); Type=ParamList("Type","Price Profile|Volume Profile"); Period= ParamList("Base","Hourly|Daily|Weekly|Monthly",1); Den = Param("Density", 1, 0.25, 100, 0.25); // Resolution in terms of $ percent=Param("Value Area", 70, 1, 100, 1); ViewTPOCount= ParamToggle("Show TPO Count", "No|Yes",1); ViewPOC = ParamToggle("Show POC", "No|Yes",1); ViewVALVAH = ParamToggle("Show VAL VAH Line", "No|Yes",1); Viewfill = ParamToggle("Show VA Fill", "No|Yes",1); Colorpoc=ParamColor("Color POC", colorYellow); Colorfill=ParamColor("Color Fill", ColorRGB(20,40,60)); EnIB = ParamToggle("Show Initial Balance", "Yes|No"); IBBars = Param("Initial Balance Bars", 2, 0, 10, 1); if(Period=="Daily"){ BarsInDay = BarsSince(Day() != Ref(Day(), -1)); Bot = TimeFrameGetPrice("L", inDaily, 0); Top = TimeFrameGetPrice("H", inDaily, 0); Vol = TimeFrameGetPrice("V", inDaily, 0); } if(Period=="Hourly"){ BarsInDay = BarsSince(Minute() != Ref(Minute(), -1)); Bot = TimeFrameGetPrice("L", in5Minute, 0); Top = TimeFrameGetPrice("H", in5Minute, 0);

Vol = TimeFrameGetPrice("V", in5Minute, 0); } if(Period=="Weekly"){ BarsInDay = BarsSince(DayOfWeek() < Ref( DayOfWeek(), -1 )); Bot = TimeFrameGetPrice("L", inWeekly, 0); Top = TimeFrameGetPrice("H", inWeekly, 0); Vol = TimeFrameGetPrice("V", inWeekly, 0); } if(Period=="Monthly" ){ BarsInDay = BarsSince(Month() != Ref(Month(), -1)); Bot = TimeFrameGetPrice("L", inMonthly, 0); Top = TimeFrameGetPrice("H", inMonthly, 0); Vol = TimeFrameGetPrice("V", inMonthly, 0); } CurTop = HHV(H,BarsInDay+1); Curbot = LLV(L,BarsInDay+1); Range = Highest(Top-Bot); TodayRange = Top - Bot; AveRange = Sum(Top-Bot,30)/30; LAveRange = AveRange[BarCount-1]; // Initialization baseX = 0; baseY = floor(Bot[0]/Den)*Den; relTodayRange = 0; firstVisBar = Status("firstvisiblebar"); lastVisBar = Status("lastvisiblebar"); D=.0005; total=0; totaldn=0; totalup=0; shiftup=0; shiftdn=0; startr=0; for (j=0; j <= 100; j++) { x[j] = 0; } i0 = 0; i1 = 0; for (i=0; i<="" and="" firstvisbar)="" i++)="" i0="i;" i="" if="" {="" }="">= lastVisBar) { i1 = i; } } i1 = BarCount-1; for (i=i0; i<=i1; i++) { if (BarsInDay[i] == 0) { baseX = i; baseY = floor(Bot[i]/Den)*Den; maxY = floor(Top[i]/Den)*Den; relTodayRange = (maxYbaseY)/Den; for (j=0; j <= relTodayRange; j++) { x[j] = 0; } } range_x=lastVisBarfirstVisBar; spread = Param("X Space", 80, 1, 200, 1); tpl = Param("Time Per Letter (mins)", 30, 1, 360, 1); Intervalmin=Interval()/60; flt =Param("First Letter (Bars)", 1, 1, 60, 1); teb=ParamToggle("To Each Bar","No|Yes"); Color=Param("Color Threshold",20,1,50,1); stopg=0; stopr=0; new=0; Voloumeunit=Vol[i]/LastValue(BarsInDay); if (EnMP2 == "Letters") { for (j=0; j<= relTodayRange; j++) { if (L[i] <= baseY+j*Den AND H[i] >= baseY+j*Den) { PlotText(StrExtract(" A , B , C , D , E , F , G , H , I , J , K , L , M , N , O , P , Q , R , S , T , U , V , W , X , Y , Z, a , b , c , d , e , f , g , h , i , j , k , L , m , n ,o , p , q , r , s , t , u , v , w , x , y , z ", IIf(BarsInDay[i]<="baseY+j*Den" ?lines?="" ?solid?)="" and="" basex+iif(teb="=1,BarsInDay[i],x[j]*(range_x/spread))," basey+j*den,="" colorwhite,colorhsb(10+((ceil(barsinday[i]="" else="" enmp2="=" for="" h[i]="" if="" intervalmin)))*color),160,140));="" intervalmin))-0)),="" j++)="" j<="relTodayRange;" or="" x[j]++;="" {="" }="">= baseY+j*Den) { if(Type=="Price Profile"){x[j]=x[j]+1;} else if(Type=="Volume Profile"){x[j]=x[j]+round(V[i]/Voloumeunit);} } } } // Draw Initial Balance after 11am bar is complete

if (BarsInDay[i] == IBBars+1 AND EnIB == 0) { Line1 = LineArray(i-2, curtop[i-1],i+7, curtop[i-1],0,True); Plot(Line1,"",colorLightGrey,styleLine+styleDashed|styleNoRescale); Line1 = LineArray(i-2, curbot[i-1],i+7, curbot[i-1],0,True); Plot(Line1,"",colorLightGrey,styleLine+styleDashed|styleNoRescale); } // Examine x[j] if ((i < BarCount - 1 AND BarsInDay[i+1] == 0) OR i == BarCount-1) { maxXj = 0; maxj = 0; for (j=0; j<= relTodayRange; j++) { if (maxXj < x[j]) {maxXj = x[j]; maxj = j; StaticVarSet("Maxj",j); new=j; } } for ( n = 1; n <= relTodayRange; n++ ) { total[n]=x[n] +total[n-1]; } Value_area=(total[relTodayRange]*percent)/100; for ( a = 1; a <= relTodayRange; a++ ) { if(Maxj-a>0 AND Maxj+a=Value_area) {shiftup=a; shiftdn=a; break;} } else if(Maxj-a<1 ) { if(MaxXj+total[Maxj+a]-total[Maxj]+total[Maxj-1]>=Value_area) {shiftup=a; shiftdn=maxj-1; break;} } else if(Maxj+a>relTodayRange ) { if(MaxXj+total[relTodayRange]-total[Maxj]+total[Maxj-1]-total[Maxj-(a+1)] >=Value_area){shiftup=relTodayRange-maxj; shiftdn=a; break;} } } Vah = LineArray(baseX, baseY+(maxj+shiftup)*Den, i, baseY+ (maxj+shiftup)*Den,0,True); Val = LineArray(baseX, baseY+(maxj-shiftdn)*Den, i, baseY+(maxjshiftdn)*Den,0,True); poc = LineArray(baseX, baseY+maxj*Den, i, baseY+maxj*Den,0,True); if(ViewVALVAH==1){Plot(Vah,"",ParamColor("Color_VA", colorLightBlue),styleLine|styleNoRescale); Plot(Val,"",ParamColor("Color_VA", colorLightBlue),styleLine|styleNoRescale);} if(ViewPOC==1){Plot(poc,"",Colorpoc,styleLine|styleNoRescale);} PlotText(""+(baseY+(maxj+shiftup)*Den),i-5,baseY+(maxj+shiftup)*Den,colorWhite); PlotText(""+(baseY+(maxj-shiftdn)*Den),i-5,baseY+(maxj-shiftdn)*Den,colorWhite); if(ViewTPOCount==1){PlotText(""+total[maxj],basex,bot[i]-(Top[i]bot[i])*0.05,ParamColor("Color_VAL", colorLavender)); PlotText(""+(total[relTodayRange]-total[maxj]),basex,Top[i],ParamColor("Color_VAH", colorLavender));} if(ViewPOC==1){PlotText(""+(baseY+maxj*Den),i-5,baseY+maxj*Den,Colorpoc);} } if (i < BarCount - 1 AND BarsInDay[i+1] == 0 OR i == BarCount-1) { for (p = 1; p < relTodayRange+1; p++){ line = LineArray(baseX, baseY+p*Den, baseX+x[p],

baseY+p*Den); line2 = LineArray(baseX, baseY+(p-1)*Den, baseX+x[p-1], baseY+(p1)*Den); if (EnMP2 == "Solid") { PlotOHLC( Line, Line, Line2, Line2, "",IIf(p>(maxj+shiftup),ParamColor("Color_VAH", colorLavender),IIf(p<=(maxj+shiftup)AND p>(maxj-shiftdn),ParamColor("Color_VA", colorLightBlue),ParamColor("Color_VAL", colorLavender))) ,styleCloud| styleNoRescale|styleNoLabel); } if (EnMP2 == "Lines") { Plot(line,"",IIf(p>(maxj+shiftup),ParamColor("Color_VAH", colorLavender),IIf(p<=(maxj+shiftup)AND p>(maxj-shiftdn),ParamColor("Color_VA", colorLightBlue),ParamColor("Color_VAL", colorLavender))) , styleLines|styleNoLabel); } } if(Viewfill==1){PlotOHLC(Vah,Vah,Val,Val,"",Colorfill,styleCloud|styleNoRescale| styleNoLabel);} } } _SECTION_END(); _SECTION_BEGIN("Gradient Backfill"); SetChartBkGradientFill( ParamColor("BgTop", ColorRGB( 255,255,255 )), ParamColor("BgBottom", ColorRGB( 255,255,255 )),ParamColor("titleblock",ColorRGB( 255,255,255 ))); _SECTION_END(); Some friends told that in their Amibroker the code is giving syntax error. For them I have attached the AFL here. I felt that Market Profile used with Floor Pivots are a very useful tool for intraday traders. Check the screenshot below:

More formulas are welcome from your side. Can mail me new Amibroker formulas at stockmaniacs@ymail.com. If I think the formula is worth publishing the same will be published here. If possible also send your screenshot of the indicator. Posted by Indrajit Mukherjee at 1:36 PM 2 comments Links to this post Labels: Amibroker formula, Market Profile Share the post with the world: 0diggsdigg Stumble Delicious Technorati Facebook

**Monday, June 21, 2010
**

Reader's Request - Elliot Fractals (Amibroker Formula)

This formula I am posting here is requested by some of my readers and followers. Though Elliott Wave formulas are more good in Metastock indicators, still this formula is worth looking at. The formula is as follows: //ELLIOT Fractals _SECTION_BEGIN("Price"); SetChartOptions(0,chartShowArrows|chartShowDates); _N(Title = StrFormat("{{NAME}} - {{INTERVAL}} {{DATE}} Open %g, Hi %g, Lo %g, Close %g (%.1f%%) {{VALUES}}", O, H, L, C, SelectedValue( ROC( C, 1 ) ) )); Plot( C, "Close", ParamColor("Color", colorBlack ), styleCandle | ParamStyle("Style") | GetPriceStyle() ); // Paste the code below to your price chart somewhere and green ribbon means both // both MACD and ADX trending up so if the red ribbon shows up the MACD and the ADX // are both trending down. _SECTION_BEGIN("trending ribbon"); uptrend=PDI()>MDI()AND Signal()PDI()AND Signal()>MACD(); Plot( 2, /* defines the height of the ribbon in percent of pane width */"ribbon", IIf( uptrend, colorGreen, IIf( downtrend, colorRed, 0 )), /* choose color */ styleOwnScale|styleArea|styleNoLabel, -0.5, 100 ); _SECTION_END(); _SECTION_END(); _SECTION_BEGIN("LEMA"); P = ParamField("Price field",-1); Periods = Param("Periods", 20, 2, 200, 1, 10 ); lema = EMA (Close,Periods)+ EMA((Close-EMA(Close,Periods)),Periods); Plot( lEMA, _DEFAULT_NAME(), ParamColor( "Color", colorCycle ),

ParamStyle("Style") ); _SECTION_END(); _SECTION_BEGIN("ELLIOTT Fractals"); /* The basic definition of an 'up' fractal is a bar high that is both higher than the two bars immediately preceding it and higher than the two bars immediately following it. The lows of the bars are NOT considered in determining the up fractal progression. If two bars in the progression have equal highs followed by two consecutive bars with lower highs, then a total of six bars rather than the usual five bars will make up the progression. The first High becomes the counting fractal. Reverse for 'down' fractals. The 5 bar formation works best on Daily or longer time frame charts.For intraday data charts we often use 9 bar, 13 bar and 21 bar formations for fractal counting */ Up5BarFractal = Ref(H,-2) < H AND Ref(H,-1) < H AND Ref(H,1) < H AND Ref(H,2) < H; Up6BarFractal = Ref(H,-2) < H AND Ref(H,-1) < H AND (H == Ref(H,1)) AND Ref(H,2) < H AND Ref(H,3) < H; Down5BarFractal = Ref(L,-2) > L AND Ref(L,-1) > L AND Ref(L,1) > L AND Ref(L,2) > L; Down6BarFractal = Ref(L,-2) > L AND Ref(L,-1) > L AND (L == Ref(L,1)) AND Ref(L,2) > L AND Ref(L,3) > L; //TODO: More filtering: Show only troughs that are around atrough in trix(9). PlotShapes( IIf(Down5BarFractal ,shapeSmallUpTriangle,0) ,colorBlack, 0, L,-12); PlotShapes( IIf(Down6BarFractal ,shapeSmallUpTriangle,0) ,colorBlack, 0, L,-12); PlotShapes( IIf(Up5BarFractal ,shapeSmallDownTriangle,0) ,colorBlack, 0, H,-12); PlotShapes( IIf(Up6BarFractal ,shapeSmallDownTriangle,0) ,colorBlack, 0, H,-12); Up = (Up5BarFractal OR Up6BarFractal); Down = (Down5BarFractal OR Down6BarFractal); //Removing false fractals: DownSignal = Flip(Ref(Up,-1), Ref(Down,-1)); UpSignal = Flip(Ref(Down,-1), Ref(Up,-1)); LastHigh[0] = H[0]; LastLow[0] = L[0]; LastLowIndex = 0; LastHighIndex = 0; Valid = 0;

for (i=1; i < BarCount; i++) { LastHigh[i] = LastHigh[i-1]; LastLow[i] = LastLow[i-1]; if (Up[i]) { Valid[i] = True; if (DownSignal[i]) { //Sequence of 2 Up Fractals. Validate only the higher one. Valid[i] = H[i] >= H[LastHighIndex]; Valid[LastHighIndex] = H[LastHighIndex] > H[i]; } LastHigh[i] = Max(H[i], H[LastHighIndex ]); LastHighIndex = i; } if (Down[i]) { Valid[i] = True; if (UpSignal[i]) { //Sequence of 2 Down Fractals. Validate only the lower one. Valid[i] = L[i] <= L[LastLowIndex]; Valid[LastLowIndex] = L[LastLowIndex] < L[i]; } LastLow[i] = Min(L[i], L[LastLowIndex]); LastLowIndex = i; } } TrixN = Trix(9); TroughLow = Ref(TrixN, -3) > TrixN AND Ref(TrixN, -2) > TrixN AND Ref(TrixN, -1) > TrixN AND Ref(TrixN, 1) > TrixN AND Ref(TrixN, 2) > TrixN AND Ref(TrixN, 3) > TrixN; TroughHigh = Ref(TrixN, -3) < TrixN AND Ref(TrixN, -2) < TrixN AND Ref(TrixN, -1) < TrixN AND Ref(TrixN, 1) < TrixN AND Ref(TrixN, 2) < TrixN AND Ref(TrixN, 3) < TrixN; //TroughLow = Ref(TrixN, -2) > TrixN AND Ref(TrixN, -1) > TrixN AND Ref(TrixN, 1) > TrixN AND Ref(TrixN, 2) > TrixN; //TroughHigh = Ref(TrixN, -2) < TrixN AND Ref(TrixN, -1) < TrixN AND Ref(TrixN, 1) < TrixN AND Ref(TrixN, 2) < TrixN; ZeroValid = Cross(TrixN, 0) OR Cross(0, TrixN) OR Ref(Cross(TrixN, 0),1) OR Ref(Cross(0, TrixN),1); ValidLow = TroughLow OR Ref(TroughLow, 1) OR Ref(TroughLow, 2) OR Ref(TroughLow, 3) OR Ref(TroughLow, 4);// OR Ref(TroughLow, 5)); ValidHigh = TroughHigh OR Ref(TroughHigh, 1) OR Ref(TroughHigh, 2) OR Ref(TroughHigh, 3) OR Ref(TroughHigh, 4);// OR Ref(TroughHigh, 5)); //Plot(LastHigh-10 ,"LastHigh", colorBlue, styleLine); //Plot(LastLow-10 ,"LastLow ", colorRed, styleLine); //Plot(Valid*5 + 10 ,"LastLow ", colorGreen, styleLine | styleThick); //PlotShapes( IIf(Down AND Valid,shapeSmallCircle,0) ,colorGreen, 0, L,-12); //PlotShapes( IIf(Up AND Valid,shapeSmallCircle,0) ,colorYellow, 0, H,-12); Maxi = Up AND (ValidHigh OR ZeroValid); Mini = Down AND (ValidLow OR ZeroValid); PlotShapes( IIf(Down AND (ValidLow OR ZeroValid),shapeSmallUpTriangle,0) ,colorBlue, 0, L,-12); PlotShapes( IIf(Up AND (ValidHigh OR ZeroValid),shapeSmallDownTriangle,0) ,colorOrange, 0, H,-12); Buy=Cover=IIf(Down AND (ValidLow OR ZeroValid),1,0); Sell=Short=IIf(Up AND (ValidHigh OR ZeroValid),1,0); //Plot(UpSignal*3+5,"UpSignal", colorBlue, styleLine| styleThick); //Plot(DownSignal*3 ,"DownSignal", colorRed, styleLine| styleThick); /* LastMaxi = 0; LastMini = 0; ElliotLines = 0; State = 0; for (i=1; i < BarCount; i++) { State[i] = State[i1]; if (Maxi[i]) { State[i] = 1;//down } if (Mini[i]) { State[i] = 2; } } PlotShapes(IIf(State > 0, shapeSmallCircle, 0), IIf(State == 1, colorRed, colorBlue), 0, IIf(State == 1, H, L), -5);

*/ //Line = LineArray( x0, y0, x1, y1, 1 ); //Plot( Line, "Trend line", colorBlue ); /* Wave B Usually 50% of Wave A Should not exceed 75% of Wave A Wave C either 1 x Wave A or 1.62 x Wave A or 2.62 x Wave A */ function CorrectiveRatios(StartPrice, A, B, C, RatioDelta, Delta) { ALength = abs(startPrice - A); BLength = abs(A-B); CLength = abs(B-C); Ratio1 = BLength / CLength ; Cond1 = Ration1 >= 0.5 - RatioDelta AND ratio1 <= 0.75 + RatioDelta; Cond2 = abs(Clength - ALength) < Delta OR abs(Clength - 1.62 * ALength) < Delta OR abs(CLength - 2.62 * ALength) < Delta; return Cond1 AND Cond2; } function ImpulseRules(StartPrice, One, Two, Three, Four, Five) { //Wave 2 should be beneath wave 1 start: Cond1 = Two > StartPrice AND Two < One; //Wave 4 - the same: Cond2 = Four > Two AND Four < Three; //Wave 5 should be <= wave 3 Cond3 = abs(Three-Two) >= abs(Five - Four); //Wave 1 should be smaller than wave five, making wave 3 the biggest: Cond4 = abs(StartPrice - One) < abs(Five - Four); return Cond1 AND Cond2 AND Cond3 AND Cond4; } _SECTION_END(); Last but not the least check the screenshot of the indicator:

More formulas are welcome from your side. Can mail me new Amibroker formulas at stockmaniacs@ymail.com. If I think the formula is worth publishing the same will be published here. If possible also send your screenshot of the indicator. Posted by Indrajit Mukherjee at 10:01 PM 0 comments Links to this post Labels: Amibroker formula Share the post with the world: 0diggsdigg Stumble Delicious Technorati Facebook

**Sunday, June 20, 2010
**

All That Glitters Are Not Gold - But How 15 Lacs Earned From One Lot Gold In Less Than A Month?

We all know that Gold is becoming priceless nowadays. But has commodity traders noticed?? Could you also catch the moves or watched as usual from the sidelines. Let us discuss something about my one of the favourite indicator RMO ATM for Metactock. RMO ATM is the latest good but costly plugin for Metastock by Rahul Mohinder. Rules for RMO can be watched from the following link as video http://www.google.co.in/search?q=rmo+atm&hl=en&rls=com.microsoft:enUS&prmd=v&source=univ&tbs=vid:1&tbo=u&ei=ec0dTJuOK8qIkAXnytTICw&sa=X &oi=video_result_group&ct=title&resnum=4&ved=0CDMQqwQwAw. Rules for buy are simple, wait for a blue bar, then if the zone detector is at 1, BUY above the high of that bar (here 16950), if zone fill indicator also supports, STRONG BUY. Keep SL below the low of the last 5 bars. Vice versa for sell. So now you can check all that glitters are really Gold, provided you have some of it. Profit potential from the breakout level per lot of Gold contract is Rs. [(swing high of 17/05/2010 @ 18424 breakout buy level of 16950) x 1000 lot size = Rs. 14,74,000 (Rupees 14 lacs seventy four thousand only)]. Check the image below:

We also undertake chart setup and training assignments for Metastock users. We will setup your Metastock charts with renowned third party utilities like Alphomega Elliott Waves, RMO ATM, ETS Trading System or Trade Oracle. You need Metastock Pro 10.0 or above for the trading system setup.

Please note:. We charge for only setup of your charts and education on the above mentioned third party utilities. We are not resellers of the utilities, and recommend traders to buy from the links given above. We will take no liabilities from any loss occurring from the generated signals. MetaStock® is a registered trademark of Equis International.

Posted by Indrajit Mukherjee at 2:00 PM 0 comments Links to this post Labels: Gold, RMO ATM Share the post with the world: 0diggsdigg Stumble Delicious Technorati Facebook

**Saturday, June 19, 2010
**

Analysing Gold MCX Future (EOD Analysis 18/06/2010)

Gold MCX near month future shows some interesting facts as I analysed it in daily as well as in weekly charts. Daily charts shows some immediate range-bound moves. Immediate supports at 18846 and 1-2 more close above will try to retest its immediate resistance at 19198. Close above 19198-19200 will bring the metal to new bull orbit. So far daily MACD is on sell mode and indicates if the security can not close above 19198 and trades below 18846 chances of retesting downside supports at 18460-18424. Strong support exists at 19294-18264-18226 zone and I feel this zone will give support for any medium term upmoves. Buy in dips.

Weekly chart shows strong weekly MACD and if Gold future can remain above the support zone of 18294 we can see medium term rallies towards weekly fibonacci resistance like 18851-19189-19466. Long tern trend is extremely bullish till we have closings above 18000 mark and once the sideways move is over we will definitely see new highs. Stay invested and add more in dips.

Your comments are welcome in this regard. Obviously the more comments, the better to take this discussion to newer heights. Posted by Indrajit Mukherjee at 3:25 PM 0 comments Links to this post Labels: Gold Share the post with the world: 0diggsdigg Stumble Delicious Technorati Facebook

**Thursday, June 17, 2010
**

Pivot Identifier (Amibroker AFL)

Price pivots are best conceptualized with three bars. A three-bar pivot low represents support and is formed when buying pressure turns price from down to up. It is designated by a price bar with a higher low that closes above the previous bar's high, where the previous bar's low is lower than the bar that preceded it. This is true in every time frame. A three-bar pivot high represents resistance and is formed when sellers turn price from up to down. It is seen where a price bar with a lower high closes below the previous bar's low, where the previous bar's high is higher than the bar that preceded it. Structural pivots are more easily recognized and understood when seen in a diagram or on a price chart. This is true in every time frame. (See the below mentioned figure)

Now I introduce the Pivot identifier AFL for Amibroker. You can also identify important supports and resistances in any time frame. The AFL is as follows (also an image attached):

_SECTION_BEGIN("Pivot Identifier"); SetChartOptions(0,chartShowArrows|chartShowDates); _N(Title = StrFormat("{{NAME}} - {{INTERVAL}} {{DATE}} Open %g, Hi %g, Lo %g, Close %g (%.1f%%) {{VALUES}}", O, H, L, C, SelectedValue( ROC( C, 1 ) ) )); Plot( C, "Close", ParamColor("Color", colorBlack ), styleNoTitle | ParamStyle("Style") | GetPriceStyle() ); dist = 0.5*ATR(10); //code and plot the pivot top PivotTop = L < Ref(L,-1) AND H < Ref(H,-1) AND Ref(L,-1) < Ref(L,-2) AND Ref(H,1) < Ref(H,-2) AND Ref(H,-2) > Ref(H,-3) AND Ref(L,-2) > Ref(L,-3); PivotBottom = H > Ref(H,-1) AND L > Ref(L,-1) AND Ref(H,-1) > Ref(H,-2) AND Ref(L,-1) > Ref(L,-2) AND Ref(L,-2) < Ref(L,-3) AND Ref(H,-2) < Ref(H,-3); for( i = 0; i < BarCount; i++ ) { if( PivotTop [i] ) PlotText( "PVT", i-2, H[ i-2 ], colorGreen ); if( PivotBottom [i] ) PlotText( "PVB", i-2, L[ i-2 ] - dist[i] , colorRed ); } _SECTION_END();

More formulas are welcome from your side. Can mail me new Amibroker formulas at stockmaniacs@ymail.com. If I think the formula is worth publishing the same will be published here. If possible also send your screenshot of the indicator. Posted by Indrajit Mukherjee at 8:48 PM 0 comments Links to this post Labels: Amibroker formula Share the post with the world: 0diggsdigg Stumble Delicious Technorati Facebook

**Tuesday, June 15, 2010
**

Are You Running For The Holy Grail?? Then Read Below

There are hundreds, maybe thousands of people with one goal in mind: To make money with trading. And then there are several dozen of speakers and vendors, and it seems that everybody has "the secret" on how you can become a successful trader.

•"Get THIS charting software and you will make money!" •"Use THIS indicator and you will never have a losing trade again!" •"Use THIS system and your account will grow exponentially!" •"Subscribe to THIS newsletter and you will get rich!" Anyhow, in my career I talked to many traders and asked them about their biggest problem. I wanted to know why they are not yet achieving their trading goals. And the answer shocked me! I thought that they would say "don't know when to enter", or "taking profits too early", or "lack of discipline" or something along these lines. And don't get me wrong: These answers came up. But there was one underlying problem: CONFUSION! With everybody claiming that they have "The Holy Grail", traders are wondering which market to trade, what software to use, which educator to follow and what system to use in their trading. And I am sure you know what I mean: •How many emails do you get per week telling you about "the next big thing" in trading? •How many invitations to webinars did you get in the past 4 weeks? •And how many pitches to "buy this stuff and you will make money" have you heard? It seems that these days many traders spend more time in webinars and more money on "trading stuff" than ever. So here's what we have done for you: Free Day Trading Starter Package For Beginners: We created many free online pages for you at our site http://www.stockmaniacs.net/, and we are giving it to you for free. In these we included everything you need to get started with day trading: •Some trading strategies so that you know exactly when to enter and exit the market •A free online charting software to trade Nifty, Bank Nifty or CNXIT - everybody needs charts to trade, right? •Real-Time Data - I think it's more fun to trade the markets with real-time data than delayed data, don't you think? •End of day charts with all necessary indicators for positional traders. •Many trading calculators so that you can test our strategies without risking a penny. Please do me a favor and let me know: •What do you think about this idea? •Would a package like this help you? •What else should be in this package?

Just leave a comment below. Obviously, the more comments the better, so don't be shy! Posted by Indrajit Mukherjee at 9:48 AM 2 comments Links to this post Labels: Free stuff Share the post with the world: 0diggsdigg Stumble Delicious Technorati Facebook

**Monday, June 14, 2010
**

Fibonacci Trader - Fixed Balance Point Indicator And OB/OS Exploration (Metastock Formula)

Fibonacci Trader - Fixed Balance Point: Mc1:=BarsSince(DayOfWeek()=1); Fc1:=BarsSince(DayOfWeek()=5); Fc2:=Ref(BarsSince(DayOfWeek()=5),-1)-1; {Fixed Balance Point Calculation} FBC:=If(Mc1=0 AND Fc1>2, {then}(Ref(HHV(H,LastValue(mc1)),-1)+ Ref(LLV(L,LastValue(Mc1)),-1)+ Ref(C,-1))/3, {else}If(Fc1=0 AND Mc1>5, {then}(HHV(H,LastValue(Fc2))+ LLV(L,LastValue(Fc2))+C)/3, {else}If(Fc1=0, {then}(HHV(H,LastValue(Mc1))+ LLV(L,LastValue(Mc1))+C)/3, {else}0))); {Fixed Balance Point Plot} FBP:=ValueWhen(1,FBC>0,FBC); FBP; Screenshot of the indicator, it can work as a trailing stop loss:

Overbought / Oversold Exploration for Metastock: RSI(25)+Stoch(25,3)+Mo(25)+CCI(25)

Col A: CLOSE Col B: Fml("OB/OS Summation") Filter: Fml("OB/OS Summation") > 450 OR Fml("OB/OS Summation") < -50 More formulas are welcome from your side. Can mail me new Metastock formulas at stockmaniacs@ymail.com. If I think the formula is worth publishing the same will be published here. If possible also send your screenshot of the indicator. Posted by Indrajit Mukherjee at 11:17 AM 0 comments Links to this post Labels: Metastock exploration, Metastock formula Share the post with the world: 0diggsdigg Stumble Delicious Technorati Facebook

**Sunday, June 13, 2010
**

How Have I Made Rs. 1,65,638 In Two Months? Simple Swing Trading Technology

From my old trading diary: I want to declare to my readers that I have made Rs. 1,65,638 in 2 months just by trading one stock, ABAN. But how??? As usual all my rules are simple. As simple as a novice can trade it like a pro. Its a buy only strategy (unless and untill you trade in futures). Buy when price closes above 5 Days Exponential Moving Average (DEMA) after a continuous and prolonged fall and sell/exit when price closes below 5 DEMA. Thats all, and My God!!! You are in profit.

Let me illustrate my trades (I always trade 1 lac for each stock):

1. 2. 3. 4. 5. 6.

13/03/09 - buy @ 256 21/04/09 - sell @ 470 (profit of Rs. 83460) 24/04/09 - buy @ 489 27/04/09 - sell @ 426 (loss of Rs. 12852) 08/05/09 - buy @ 452 27/05/09 - sell @ 882 [profit of 95030 (ABAN is a hold till 27/05/09 as its above 5 DEMA, sell shown for illustration)]

----------------------------------------------------------------Total Profit - Rs. 1,65,638 So, where to get all these datas, which stock is closing above its 5 DEMA? Again simple. all Nifty-50 stock's end of day (EOD) charts available in this blog at EOD Charts section. Thanks to http://www.icharts.in/, all levels are shown in the charts itself. Your job is very easy. Just pick your favourite stock and go long in it. Keep a standard 2%-3% SL for all swing trading activities. I need your comments to take this discussion to further heights. Cheers!! Posted by Indrajit Mukherjee at 12:12 AM 0 comments Links to this post Labels: 5 EMA Technique Share the post with the world: 0diggsdigg Stumble Delicious Technorati Facebook

**2 Period RSI Reloaded - Excellent Trading Strategy Combining With Fast Stochastics
**

We consider the Relative Strength Index (RSI) to be one of the best indicators available. There are a number of books and articles written about RSI, how to use it, and the value it provides in predicting the short-term direction of stock prices. Unfortunately, few, if any, of these claims are backed up by statistical studies. This is very surprising considering how popular RSI is as an indicator and how many traders rely upon it. Most traders use the 14-period RSI, but enhanced studies have shown that statistically, there is no edge going out that far. However, when you shorten the timeframe you start seeing some very impressive results. Some good research by Larry Connors shows that the most robust and consistent results are obtained by using a 2-period RSI and I have built many successful trading systems that incorporate the 2-period RSI. The following is one of them. What is RSI? The Relative Strength Index (RSI) was developed by J. Welles Wilder in the 1970's. It is a very useful and popular momentum oscillator that compares the magnitude of a stock's recent gains to the magnitude of its recent losses. As mentioned above, the default/most common setting for RSI is 14-periods. You can change this default setting in most charting packages very easily but if you are unsure how to do this please contact your software vendor. Those using Amibroker can easily change the period of RSI.

Trading System Prerequisites: Any good charting software like Amibroker (recommended), Metastock, Trade Station, Advanced Get etc. Those do not have any of them can contact us at 9432883838 / 9674321856 or mail at stockmaniacs@ymail.com to buy Amibroker. Trading System Setup: Time frame: Daily/Hourly/30 Minutes/15 Minutes Scrip: any liquid scrip or index Trading setup: SMA 50, SMA 100, SMA 200, RSI (2) with horizontal lines at 80 and 20, Fast Stochastics (6,3,3) with horizontal lines at 70 and 30. Trading rules: Entry for uptrend: When the 50 SMA is above 100 SMA and 100 SMA is above 200 SMA, it is buy only setup. We will look for RSI to plunge below 20. Then look at Stochastic - once the Stochastic lines crossover occur and it is (must be) below 30 - enter long with a new price bar. If at least one of the conditions is not met - stay out. Opposite for downtrend: When the the 50 SMA is below 100 SMA and 100 SMA is below 200 SMA, it is sell only setup. Wait for the RSI to go above 80. Then if shortly after you see a Stochastic lines crossover above 70 - enter Short. Protective stop is placed at the moment of entry and is adjusted to the most recent swing high/low. I have shown the system with Nifty future daily charts.

**Profits are going to be taken in the following way:
**

•

Option 1 - using Stochastic - with the Stochastic lines cross above 70 (for uptrend) / below 30 (for downtrend).

•

Option 2 - using a trailing stop - for an uptrend a trailing stop is activated for the first time when Stochastic reaches 70. A trailing stop is placed below the previous bar's lowest price and is moved with each new price bar.

This strategy allows to accurately pin-point good entries with sound money management - risks/protective stops are very tight and potential profits are high. Current trading strategy can be improved when it is combined with the best exits. For example, once in trade the traders may also try applying Fibonacci studying to the most recent swings. This way they can predict short-term retracements and make sure they will not be pulled out of the trade early and will continue pursuing profit targets at Fibonacci extension levels. (Some idea of the system is taken from a forex discussion forum, big credit goes to Edward Revy) Posted by Indrajit Mukherjee at 12:03 AM 0 comments Links to this post Labels: 2 Period RSI, RSI-2, Stochastics Share the post with the world: 0diggsdigg Stumble Delicious Technorati Facebook

**Saturday, June 12, 2010
**

How To Trade With Yahoo Charts (Part-III)

Hopefully you all have read my earlier posts on trading Nifty with Yahoo charts? For newcomers I want to repeat, a complete free Nifty Trading System is there in this site. For Nifty Trading System in real time see the Live Nifty section and for Bank Nifty trading see Live Bank Nifty section. Simple rule for Nifty trading, go long when Stochastics crosses from below and confirm that you get a white candle fully above the red line of 13 EMA not touching it. Exit maximum when u see RSI becoming overbought and hold a small portion for any further gain. Go short when Stochastics crosses from above and confirm that you get a blue candle fully below the red line of 13 EMA not touching it. Exit maximum when u see RSI becoming oversold and hold a small portion for any further gain.

Now lets see how have I earned 40+ points in trading Nifty future in a trading day. A picture is worth a 1000 words, so I am attaching a picture of the Nifty Trading System with full analysis. Your comments are welcome in this regard. Posted by Indrajit Mukherjee at 11:49 PM 0 comments Links to this post Labels: Yahoo Chart Share the post with the world: 0diggsdigg Stumble Delicious Technorati Facebook

**How To Trade With Yahoo Charts (Part-II)
**

Earlier also I have told in my trading career I have come across, many charting softwares and sites, costly or non-costly. But I again repeat even a novice can successfully trade Nifty future using only free Yahoo Chart. For that purpose I have attached an auto refreshing Nifty chart from Yahoo Finance in this blog at Live Nifty section. An auto buy sell decision is attached with the Nifty chart in the blog. In my last post on Nifty Yahoo Chart I discussed on EMA crossover technology. This time I will discuss Stochastic-RSI Technology.

Let me tell you how have I made 66 points in Nifty trading in a trading day using the Nifty Yahoo Chart? Rules are again simple: simply follow the auto signals. Buy Nifty when stochastics crosses blue line over red and confirm that a full white candle is formed above the 21 EMA, the red line. Short Nifty when stochastics crosses red line over blue and confirm that a full blue candle is formed below the 21 EMA, the red line. Exit criteria RSI reaching overbought or oversold zone. Also, sometimes the auto signals will tell not to short at all, or sometimes it will tell not to buy at all. My today's trades are represented graphically. Your comments are welcome in this matter to take this discussion to a further height. Posted by Indrajit Mukherjee at 11:39 PM 0 comments Links to this post Labels: Yahoo Chart Share the post with the world: 0diggsdigg Stumble Delicious Technorati Facebook

**How To Trade With Yahoo Charts (Part-I)
**

In my trading career I have come across, many charting softwares and sites, costly or non-costly. The list is becoming endless with the advancement of technology: Metastock, Amibroker, TradeStation, Advanced Get, FCharts, ICharts, JCharts, BazaarTrend. But may be we traders are ignoring a hidden free gem like the Yahoo Finance Charts. Thanks to Yahoo, we Indians get absolutely live charts for our indexes from Yahoo charts absolutely FREE. I have attached an auto-updating real time Nifty chart from Yahoo Finance @ Live Nifty section of this blog at Live Nifty. I repeat even a novice can successfully trade Nifty future using this chart. But how? Rules are again simple: Buy Nifty when 3 mins EMA goes above 13 mins EMA and 13 mins EMA is also above 34 mins EMA. Comfirm the RSI and Stochastics both in uptrend and has not reached the overbought zone of 80. Exit Nifty longs when RSI and Stochastics both starts coming down from the overbought zone.

Sell Nifty when 3 mins EMA goes below 13 mins EMA and 13 mins EMA is also below 34 mins EMA. Comfirm the RSI and Stochastics both in downtrend and has not reached the oversold zone of 20. Exit Nifty shorts when RSI and Stochastics both starts moving up from the oversold zone. Now lets see how I have made 45 points in Nifty yesterday (i.e. 8th May 2009), just by trading the FREE Yahoo charts. I know a picture worth a thousand words, so I attached a picture of yesterday's trades. Your comments are welcome to extend this discussion to a further height. Cheers!! Posted by Indrajit Mukherjee at 11:35 PM 0 comments Links to this post Labels: Yahoo Chart Share the post with the world: 0diggsdigg Stumble Delicious Technorati Facebook

**Friday, June 11, 2010
**

TTM Auto Pivots (Amibroker Formula)

Now after I discussed lessons on Pivot Points, a great formula on Pivot Points for Amibroker users. This formula will plot daily, weekly or Monthly important Pivot support and resistance lines on your chart. What's more it can even calculate next day's pivot levels from today's graph. Check the screenshot below:

Now the formula below: _SECTION_BEGIN("TTM Auto-pivots"); /***************************************/ /***************************************/ /* PIVOT POINTS can by used in 2 ways: if you choose daily, the pivots are calculated from the previous day, this can be used for daily charts. The second option is next day for EOD charts. For all the options available right click on the chart parameters. To utilize all the program features you need amibroker from version 4.80.1 and above. Enjoy! */ /*-----------------data------------------*/ SetChartBkColor(ParamColor( "BakcgroundColor", colorBlack ) ) ; k=IIf(ParamList("select type","daily next day")=="daily",-1,0); k1=-1; TimeFrameSet(inDaily); day_h= LastValue(Ref(H,K)); day_l= LastValue(Ref(L,K)); day_c= LastValue(Ref(C,K)); TimeFrameRestore(); TimeFrameSet(inWeekly); Week_h= LastValue(Ref(H,K1)); Week_l= LastValue(Ref(L,K1));; Week_c= LastValue(Ref(C,K1));; TimeFrameRestore(); TimeFrameSet(inMonthly);

month_h= LastValue(Ref(H,K1)); month_l= LastValue(Ref(L,K1)); month_c= LastValue(Ref(C,K1)); TimeFrameRestore();

/*--------------------------------------*/ // day DH=Day_h; DL=Day_L; DC=Day_C; // DAY PIVOT Calculation pd = ( DH+ DL + DC )/3; sd1 = (2*pd)-DH; sd2 = pd -(DH - DL); sd3 = Sd1 - (DH-DL); sd4 = pd - (2*DH - 2*DL); // pd - (DH-DL)*3; //pd - (2*DH - 2*DL); another way sd5 = 2*pd - (3*DH -2*DL); //pd - (DH-DL)*4; //2*pd - (3*DH -2*DL); rd1 = (2*pd)-DL; rd2 = pd +(DH -DL); rd3 = rd1 +(DH-DL); rd4 = pd + (2*DH-2*DL); //pd + (DH-DL)*3; another way rd5 = 2*pd + (2*DH-3*DL); //pd + (DH-DL)*4; but wrong // week

WH=Week_h; WL=Week_l; WC=Week_c; // WEEK PIVOT Calculation pw = ( WH+ WL + WC )/3; sw1 = (2*pw)-WH; sw2 = pw -(WH - WL); sw3 = Sw1 - (WH-WL); sw4 = pw - (2*WH - 2*WL);//sw4 = pw - (WH - WL)*3; sw5 = 2*pw - (3*WH -2*WL); //sw5 = pw - (WH -WL)*4; rw1 = (2*pw)-WL; rw2 = pw +(WH -WL); rw3 = rw1 +(WH-WL); rw4 = pw + (2*WH-2*WL); //rw4 = pw + (WH-WL)*3; rw5 = 2*pw + (2*WH-3*WL); //rw5 = pw + (WH-WL)*4; // month MH=month_h; ML=month_l; MC=month_c; // MONTH PIVOT Calculation pm = ( MH+ ML + MC )/3; sm1 = (2*pm)-MH;

sm2 = pm -(MH - ML); sm3 = Sm1 - (MH-ML); sm4 = pm - (2*MH - 2*ML); // sm4 = pm - (MH - ML)*3; sm5 = 2*pm - (3*MH -2*ML); //sm5 = pm - (MH -ML)*4; rm1 = (2*pm)-ML; rm2 = pm +(MH -ML); rm3 = rm1 +(MH-ML); rm4 = pm + (2*MH-2*ML); //rm4 = pm + (MH-ML)*3; rm5 = 2*pm + (2*MH-3*ML); //rm5 = pm + (MH-ML)*4; /*--------------------------------------*/ // PARAMETERS slide = Param("slide all",33,-1000,1000,1); slide1 = Param("slide_day",50,0,1000,1); slide2 = Param("slide_week",70,0,1000,1); slide3 = Param("slide_month",90,0,1000,1); slide_Hight = Param("slide_Hight",0,-1000,1000,1); SHALD = ParamList("daily Pivots", "all selected only hide" ); SHALW = ParamList("weekly Pivots", "selected only all hide" ); SHALM = ParamList("monthly Pivots", "selected only all hide" );

//day PDP = ParamList("DP", "SHOW HIDE" ); PDR1 = ParamList("DR1", "SHOW HIDE" ); PDR2 = ParamList("DR2", "HIDE SHOW" ); PDR3 = ParamList("DR3", "HIDE SHOW" ); PDR4 = ParamList("DR4", "HIDE SHOW" ); PDR5 = ParamList("DR5", "HIDE SHOW" ); PDS1 = ParamList("DS1", "SHOW HIDE" ); PDS2 = ParamList("DS2", "HIDE SHOW" ); PDS3 = ParamList("DS3", "HIDE SHOW" ); PDS4 = ParamList("DS4", "HIDE SHOW" ); PDS5 = ParamList("DS5", "HIDE SHOW" ); //week PWP = ParamList("WP", "SHOW HIDE" ); PWR1 = ParamList("WR1", "SHOW HIDE" );

PWR2 = ParamList("WR2", "HIDE SHOW" ); PWR3 = ParamList("WR3", "HIDE SHOW" ); PWR4 = ParamList("WR4", "HIDE SHOW" ); PWR5 = ParamList("WR5", "HIDE SHOW" ); PWS1 = ParamList("WS1", "SHOW HIDE" ); PWS2 = ParamList("WS2", "HIDE SHOW" ); PWS3 = ParamList("WS3", "HIDE SHOW" ); PWS4 = ParamList("WS4", "HIDE SHOW" ); PWS5 = ParamList("WS5", "HIDE SHOW" ); //month PMP = ParamList("MP", "SHOW HIDE" ); PMR1 = ParamList("MR1", "SHOW HIDE" ); PMR2 = ParamList("MR2", "HIDE SHOW" ); PMR3 = ParamList("MR3", "HIDE SHOW" ); PMR4 = ParamList("MR4", "HIDE SHOW" );

PMR5 = ParamList("MR5", "HIDE SHOW" ); PMS1 = ParamList("MS1", "SHOW HIDE" ); PMS2 = ParamList("MS2", "HIDE SHOW" ); PMS3 = ParamList("MS3", "HIDE SHOW" ); PMS4 = ParamList("MS4", "HIDE SHOW" ); PMS5 = ParamList("MS5", "HIDE SHOW" );

DayCOLOR =ParamColor("day color", 34); weekCOLOR =ParamColor("week color",10); monthCOLOR =ParamColor("month color",42); /*--------------------------------------*/ // LABELS for( i = 0; i < BarCount; i++ ) { //day if(i+slide1== BarCount && (PDP=="SHOW" OR SHALD=="all") && SHALD! ="hide") PlotText( "daily Pivot "+pd ,i+slide,pd+slide_Hight ,DayCOLOR); if(i+slide1== BarCount && (PDR1=="SHOW" OR SHALD=="all")&& SHALD! ="hide") PlotText( "daily R1 "+rd1 ,i+slide,rd1+slide_Hight ,DayCOLOR ); if(i+slide1== BarCount && (PDR2=="SHOW" OR SHALD=="all")&& SHALD! ="hide") PlotText( "daily R2 "+rd2 ,i+slide,rd2+slide_Hight ,DayCOLOR ); if(i+slide1== BarCount && (PDR3=="SHOW" OR SHALD=="all")&& SHALD!

="hide") PlotText( "daily R3 "+rd3 ,i+slide,rd3+slide_Hight ,DayCOLOR ); if(i+slide1== BarCount && (PDR4=="SHOW" OR SHALD=="all")&& SHALD! ="hide") PlotText( "daily R4 "+rd4 ,i+slide,rd4+slide_Hight ,DayCOLOR ); if(i+slide1== BarCount && (PDR5=="SHOW" OR SHALD=="all")&& SHALD! ="hide") PlotText( "daily R5 "+rd5 ,i+slide,rd5+slide_Hight ,DayCOLOR ); if(i+slide1== BarCount && (PDS1=="SHOW" OR SHALD=="all")&& SHALD! ="hide") PlotText( "daily S1 "+sd1 ,i+slide,sd1+slide_Hight ,DayCOLOR ); if(i+slide1== BarCount && (PDS2=="SHOW" OR SHALD=="all")&& SHALD! ="hide") PlotText( "daily S2 "+sd2 ,i+slide,sd2+slide_Hight ,DayCOLOR ); if(i+slide1== BarCount && (PDS3=="SHOW" OR SHALD=="all")&& SHALD! ="hide") PlotText( "daily S3 "+sd3 ,i+slide,sd3+slide_Hight ,DayCOLOR ); if(i+slide1== BarCount && (PDS4=="SHOW" OR SHALD=="all")&& SHALD! ="hide") PlotText( "daily S4 "+sd4 ,i+slide,sd4+slide_Hight ,DayCOLOR ); if(i+slide1== BarCount && (PDS5=="SHOW" OR SHALD=="all")&& SHALD! ="hide") PlotText( "daily S5 "+sd5 ,i+slide,sd5+slide_Hight ,DayCOLOR ); //week if(i+slide2== BarCount && (PWP=="SHOW" OR SHALW=="all")&& SHALW! ="hide") PlotText( "weekly Pivot "+pw ,i+slide,pw+slide_Hight ,weekCOLOR ); if(i+slide2== BarCount && (PWR1=="SHOW" OR SHALW=="all")&& SHALW! ="hide") PlotText( "weekly R1 "+rw1 ,i+slide,rw1+slide_Hight ,weekCOLOR ); if(i+slide2== BarCount && (PWR2=="SHOW" OR SHALW=="all")&& SHALW! ="hide") PlotText( "weekly R2 "+rw2 ,i+slide,rw2+slide_Hight ,weekCOLOR ); if(i+slide2== BarCount && (PWR3=="SHOW" OR SHALW=="all")&& SHALW! ="hide") PlotText( "weekly R3 "+rw3 ,i+slide,rw3+slide_Hight ,weekCOLOR ); if(i+slide2== BarCount && (PWR4=="SHOW" OR SHALW=="all")&& SHALW! ="hide") PlotText( "weekly R4 "+rw4 ,i+slide,rw4+slide_Hight ,weekCOLOR ); if(i+slide2== BarCount && (PWR5=="SHOW" OR SHALW=="all")&& SHALW! ="hide") PlotText( "weekly R5 "+rw5 ,i+slide,rw5+slide_Hight ,weekCOLOR );

if(i+slide2== BarCount && (PWS1=="SHOW" OR SHALW=="all")&& SHALW! ="hide") PlotText( "weekly S1 "+sw1 ,i+slide,sw1+slide_Hight ,weekCOLOR ); if(i+slide2== BarCount && (PWS2=="SHOW" OR SHALW=="all")&& SHALW! ="hide") PlotText( "weekly S2 "+sw2 ,i+slide,sw2+slide_Hight ,weekCOLOR ); if(i+slide2== BarCount && (PWS3=="SHOW" OR SHALW=="all")&& SHALW! ="hide") PlotText( "weekly S3 "+sw3 ,i+slide,sw3+slide_Hight ,weekCOLOR ); if(i+slide2== BarCount && (PWS4=="SHOW" OR SHALW=="all")&& SHALW! ="hide") PlotText( "weekly S4 "+sw4 ,i+slide,sw4+slide_Hight ,weekCOLOR ); if(i+slide2== BarCount && (PWS5=="SHOW" OR SHALW=="all")&& SHALW! ="hide") PlotText( "weekly S5 "+sw5 ,i+slide,sw5+slide_Hight ,weekCOLOR );

//month if(i+slide3== BarCount && (PMP=="SHOW" OR SHALM=="all")&& SHALM! ="hide") PlotText( "monthly Pivot "+pm ,i+slide,Pm+slide_Hight ,monthCOLOR ); if(i+slide3== BarCount && (PMR1=="SHOW" OR SHALM=="all")&& SHALM! ="hide") PlotText( "monthly R1 "+rm1 ,i+slide,rm1+slide_Hight ,monthCOLOR ); if(i+slide3== BarCount && (PMR2=="SHOW" OR SHALM=="all")&& SHALM! ="hide") PlotText( "monthly R2 "+rm2 ,i+slide,rm2+slide_Hight ,monthCOLOR ); if(i+slide3== BarCount && (PMR3=="SHOW" OR SHALM=="all")&& SHALM! ="hide") PlotText( "monthly R3 "+rm3 ,i+slide,rm3+slide_Hight ,monthCOLOR ); if(i+slide3== BarCount && (PMR4=="SHOW" OR SHALM=="all")&& SHALM! ="hide") PlotText( "monthly R4 "+rm4 ,i+slide,rm4+slide_Hight ,monthCOLOR ); if(i+slide3== BarCount && (PMR5=="SHOW" OR SHALM=="all")&& SHALM! ="hide") PlotText( "monthly R5 "+rm5 ,i+slide,rm5+slide_Hight ,monthCOLOR );

if(i+slide3== BarCount && (PMS1=="SHOW" OR SHALM=="all")&& SHALM! ="hide")PlotText( "monthly S1 "+sm1 ,i+slide,sm1+slide_Hight ,monthCOLOR); if(i+slide3== BarCount && (PMS2=="SHOW" OR SHALM=="all")&& SHALM! ="hide") PlotText( "monthly S2 "+sm2 ,i+slide,sm2+slide_Hight ,monthCOLOR ); if(i+slide3== BarCount && (PMS3=="SHOW" OR SHALM=="all")&& SHALM!

="hide") PlotText( "monthly S3 "+sm3 ,i+slide,sm3+slide_Hight ,monthCOLOR ); if(i+slide3== BarCount && (PMS4=="SHOW" OR SHALM=="all")&& SHALM! ="hide") PlotText( "monthly S4 "+sm4 ,i+slide,sm4+slide_Hight ,monthCOLOR ); if(i+slide3== BarCount && (PMS5=="SHOW" OR SHALM=="all")&& SHALM! ="hide") PlotText( "monthly S5 "+sm5 ,i+slide,sm5+slide_Hight ,monthCOLOR ); } /*--------------------------------------*/ // PLOTS style = IIf(ParamList("Chart style", "styleCandle styleBar")=="styleCandle",64,128); Plot (C,Date ()+" close",ParamColor("Chart color",11),style); //day if ((PDP=="SHOW" OR SHALD=="all") && SHALD!="hide") Plot (pd,"daily Pivot ",DayCOLOR,1); if ((PDR1=="SHOW" OR SHALD=="all") && SHALD!="hide") Plot (rd1,"daily R1 ",DayCOLOR,32); if ((PDR2=="SHOW" OR SHALD=="all") && SHALD!="hide") Plot (rd2,"daily R2 ",DayCOLOR,32); if ((PDR3=="SHOW" OR SHALD=="all") && SHALD!="hide") Plot (rd3,"daily R3 ",DayCOLOR,32); if ((PDR4=="SHOW" OR SHALD=="all") && SHALD!="hide") Plot (rd4,"daily R4 ",DayCOLOR,32); if ((PDR5=="SHOW" OR SHALD=="all") && SHALD!="hide") Plot (rd5,"daily R5 ",DayCOLOR,32); if ((PDS1=="SHOW" OR SHALD=="all") && SHALD!="hide") Plot (sd1,"daily S1 ",DayCOLOR,32); if ((PDS2=="SHOW" OR SHALD=="all") && SHALD!="hide") Plot (Sd2,"daily S2 ",DayCOLOR,32); if ((PDS3=="SHOW" OR SHALD=="all") && SHALD!="hide") Plot (Sd3,"daily S3

",DayCOLOR,32); if ((PDS4=="SHOW" OR SHALD=="all") && SHALD!="hide") Plot (Sd4,"daily S4 ",DayCOLOR,32); if ((PDS5=="SHOW" OR SHALD=="all") && SHALD!="hide") Plot (Sd5,"daily S5 ",DayCOLOR,32); //week if ((PWP=="SHOW" OR SHALW=="all") && SHALW!="hide") Plot (pW,"weekly Pivot ",weekCOLOR,1); if ((PWR1=="SHOW" OR SHALW=="all") && SHALW!="hide") Plot (rw1,"weekly R1 ",weekCOLOR,32); if ((PWR2=="SHOW" OR SHALW=="all") && SHALW!="hide") Plot (rw2,"weekly R2 ",weekCOLOR,32); if ((PWR3=="SHOW" OR SHALW=="all") && SHALW!="hide") Plot (rw3,"weekly R3 ",weekCOLOR,32); if ((PWR4=="SHOW" OR SHALW=="all") && SHALW!="hide") Plot (rw4,"weekly R4 ",weekCOLOR,32); if ((PWR5=="SHOW" OR SHALW=="all") && SHALW!="hide") Plot (rw5,"weekly R5 ",weekCOLOR,32); if ((PWS1=="SHOW" OR SHALW=="all") && SHALW!="hide") Plot (sw1,"weekly S1 ",weekCOLOR,32); if ((PWS2=="SHOW" OR SHALW=="all") && SHALW!="hide") Plot (Sw2,"weekly S2 ",weekCOLOR,32); if ((PWS3=="SHOW" OR SHALW=="all") && SHALW!="hide") Plot (Sw3,"weekly S3 ",weekCOLOR,32); if ((PWS4=="SHOW" OR SHALW=="all") && SHALW!="hide") Plot (Sw4,"weekly S4 ",weekCOLOR,32); if ((PWS5=="SHOW" OR SHALW=="all") && SHALW!="hide") Plot (Sw5,"weekly S5 ",weekCOLOR,32); //month

if ((PMP=="SHOW" OR SHALM=="all") && SHALM!="hide") Plot (pm,"monthly Pivot",monthCOLOR ,1); if ((PMR1=="SHOW" OR SHALM=="all") && SHALM!="hide") Plot (rm1,"monthly R1",monthCOLOR ,32); if ((PMR2=="SHOW" OR SHALM=="all") && SHALM!="hide") Plot (rm2,"monthly R2",monthCOLOR ,32); if ((PMR3=="SHOW" OR SHALM=="all") && SHALM!="hide") Plot (rm3,"monthly R3",monthCOLOR ,32); if ((PMR4=="SHOW" OR SHALM=="all") && SHALM!="hide") Plot (rm4,"monthly R4",monthCOLOR ,32); if ((PMR5=="SHOW" OR SHALM=="all") && SHALM!="hide") Plot (rm5,"monthly R5",monthCOLOR ,32); if ((PMS1=="SHOW" OR SHALM=="all") && SHALM!="hide") Plot (sm1,"monthly S1",monthCOLOR ,32); if ((PMS2=="SHOW" OR SHALM=="all") && SHALM!="hide") Plot (sm2,"monthly S2",monthCOLOR ,32); if ((PMS3=="SHOW" OR SHALM=="all") && SHALM!="hide") Plot (sm3,"monthly S3",monthCOLOR ,32); if ((PMS4=="SHOW" OR SHALM=="all") && SHALM!="hide") Plot (sm4,"monthly S4",monthCOLOR ,32); if ((PMS5=="SHOW" OR SHALM=="all") && SHALM!="hide") Plot (sm5,"monthly S5",monthCOLOR ,32); /*--------------------------------------*/ // TEXT "high = "+H; "low = "+L; "close = "+C; _SECTION_END();

More formulas are welcome from your side. Can mail me new formulas at stockmaniacs@ymail.com. If I think the formula is worth publishing the same will be published here. If possible also send your screenshot of the AFL. Posted by Indrajit Mukherjee at 12:26 PM 0 comments Links to this post Labels: Amibroker formula, Pivot Point Share the post with the world: 0diggsdigg Stumble Delicious Technorati Facebook Newer Posts Older Posts Home Subscribe to: Posts (Atom)

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