AFL Winner oscillator
The Alf Winner indicator oscilllates between 0.00 (oversold) and 105 (overbought) values depending upon market conditions. Red bars suggest bearish pressure and green bars bullish pressure. It’s recommended to use this oscillator in conjunction with trend following indicators to trade in the direction of the overall trend.
Up trends: look to buy near the 0.00 level at the first green bar. Down trends: look to sell near the 105 level at the first red bar.
(description found on the web).
This indicator use a conjunction of price action (average of 2 times Close + High + Low) and Volumes in its formula, it results an oscillation between the 2 oversold and overbought zones. The curve is double smoothed with Weighted Moving Average, periods can be changed in the settings.
//PRC_AFL Winner | indicator
//27.04.2017
//Nicolas @ www.prorealcode.com
//Sharing ProRealTime knowledge
//Translated from MT4 version
//---Settings
//PERIOD = 10
//AVG = 5
//---end of settings
if barindex>period then
period=max(period,2)
avg=max(avg,2)
pa = (2*close+high+low)/4
scost5=summation[avg](volume*pa)
svolume5=summation[avg](volume)
pa5=scost5/svolume5
mmin=lowest[period](pa5)
mmax=highest[period](pa5)
rsv=((pa5-mmin)/max(mmax-mmin,pointsize))*100
pak = average[avg,2](rsv)
pad = average[avg,2](pak)
if pak>pad then
drawcandle(pad,pak,pad,pak) coloured(30,144,255)
else
drawcandle(pak,pad,pak,pad) coloured(220,20,60)
endif
endif
return
Comments
You must be logged in to post a comment.
Thanks Nicolas, i'll take a look
Hi, I find your very useful indicator for my strategy. Can you also have a code for the proscreener?
Hi Nicolas it's not related I'm sorry but I'm trying to learn coding and am a complete novice. I have a strategy I want to back test based on round numbers, pin bars and moving averages does this sound easy for me to learn or should I not bother? Any help you can offer would be massively appreciated.
Many thanks
Pete
OK, Merci encore
Bonjour Nicolas,
Merci infiniment pour cet indicateur mais je constate qu'il ne s'affiche pas sur le PRT plateform.
Hi Nicolas, Its fair to say i'm a relative novice with ProRealtime and as such i am not sure how to use this code in my strategies. As a layman's example with RSI; "Indicator1 = RSI[14](Close) RSIBuy = (Indicator1 70) " What would the syntax be for this code though? Do i have to call it first and if so, how do i then reference it? Many thanks in advance, James