Counter Trend
Identify market reversals with the Counter Trend AFL for Amibroker. This powerful tool, available for free download, assists traders in spotting potential turning points in the market. Utilize Amibroker data to enhance the accuracy of counter-trend signals, providing valuable insights for contrarian strategies. Incorporate this AFL into your toolkit to strengthen your ability to navigate changing market conditions.
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//Marketcalls - Counter Trend Reversal System
//www.marketcalls.in
_SECTION_BEGIN("Marketcalls - Counter Trend Reversal System");
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 ) ) ));
z=(High+Low+(Close)*(2))/(4);
EMAavg=((34*EMA(z,2)+21*EMA(z,3))+(13*EMA(z,5))+(8*EMA(z,8))+(5*EMA(z,13))+(3*EMA(z,21))+(2*EMA(z,34)))/(87);
Plot(EMAavg,"EMAavg=",colorRed);
Buy =C>EMAavg AND C>EMA(C,5);
ex =C