Detecting Breakouts Indicators
Amibroker AFL empowers traders to develop breakout detection indicators. By analyzing historical data, traders can create indicators that identify instances when a security’s price breaks through support or resistance levels. These indicators, coded in AFL, help in pinpointing potential breakout opportunities, providing traders with valuable insights for their strategies.
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_SECTION_BEGIN("Detecting Breakouts Indicators");
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// Indicators
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P1=Param("StdDev period", 30, 5, 80 );
P2=Param("ADX period", 25, 5, 80 );
// Normalized standard deviation
SD = StDev(C, P1 );
SDC = SD / MA( C, P1 );
// Standard Deviation * ADX formula
SADX = SDC * ADX( P2 );
Plot( SADX, "StdDev*ADX", colorRed);
Plot( SDC, "Norm. Standard Deviation", colorBlue,
styleOwnScale );
_SECTION_END();