DTCO
DTCO (Directional Trend and Crossover) in Amibroker combines directional trend analysis with crossover techniques. Using the Amibroker data feed, it identifies potential trend reversal points, aiding traders in decision-making processes.
//*
This AFL Plots a histogram, that shows the distance between TL and SL.
The color turns Blue when Price (Close) is above the 15 Days EMA and Red when Close is below 15 Days EMA.
The arrows indicate if the distance between SL and TL is decreasing or increasing
Do not consider thearrows as Buy / Sell Signals.
Insert it below the price chart
Note: This code uses 15 days for SL and 5 days for TL
*/
_SECTION_BEGIN("DTCO-Saji");
r1 = Param( "Moving Avg", 15, 5, 50, 1 );
SL_Prd = Param( "No_of_Days for SL", 18, 15, 24, 1 );
TL_Prd = Param( "No_of_Days for TL", 5, 3, 10, 1 );
SL = ( HHV( H, SL_Prd ) + LLV( L, SL_Prd) )/2;
TL = ( HHV( H, TL_Prd ) + LLV( L, TL_Prd ) )/2;
D = TL - SL;
Up = D > Ref(D, -1) AND Ref(D,-1) < Ref(D,-2);
Dn = D < Ref(D, -1) AND Ref(D,-1) > Ref(D,-2);
myShape = Up * shapeUpArrow + Dn * shapeDownArrow ;
Trend = Close - EMA(C,15);
Plot( D, StrFormat(_SECTION_NAME()+"(TL=%g,SL=%g)", TL, SL), IIf(Trend > 0,colorBlue, colorRed ), styleHistogram );
PlotShapes(myShape,IIf(Up,colorLightBlue,colorLightGrey));
_SECTION_END();