EMA Bands
Amibroker’s EMA Bands AFL generates bands around Exponential Moving Averages (EMAs), indicating potential areas of support and resistance. For optimal use, integrating the EMA Bands AFL with an accurate Amibroker data feed is essential. Reliable market data ensures that the bands accurately reflect price movements, helping traders identify crucial support and resistance levels with higher precision. The accuracy of these bands greatly influences traders’ decisions, making the combination of AFL and data feed crucial for effective analysis.
/_SECTION_BEGIN("Ema bands");
/* EMA offset bands ver 1_2
I'd guess this is NOT much different to bbands except you can contol the per % offset and the periods ema to off set*/
per=.10;//Percent placement
periods=20;//time periods
/*********************************/
emaverage= EMA(C,periods);
bandsAdjust=emaverage*per;
upperband=emaverage+bandsAdjust;
Lowerband=emaverage-bandsAdjust;
Plot(EMA(C,periods),"ema",5,1);
Plot(C,"EMA",15,64);// plots the close with candles
Plot(upperband,"upperband",3,1);// upperband
Plot(Lowerband,"lowerband",4,1);//lowerband
bCond1=Ref(Cross(C,Lowerband),-1) AND C > lowerband ;
bCond2= C > EMAverage ;// the "or" gets me into up trends
bCond3= C > EMA(C,65);// trend
Buy = bcond1 AND bCond3 OR bCond2;
scond1= Ref( Cross(emaverage,C),-1)AND C < emaverage;// close days under ema
scond2=C < Lowerband;//failed trade drops below lowerband
Sell = scond1 OR scond2;
Buy = ExRem( Buy, Sell );// removes buy/sell arrows
Sell = ExRem( Sell, Buy );
_SECTION_END();