Ergodic Candlestick Oscillator
The “Ergodic Candlestick Oscillator” likely combines the principles of Ergodic Oscillator with Candlestick patterns. Developing an AFL script for this concept might involve creating a hybrid indicator that integrates Ergodic Oscillator calculations with Candlestick pattern recognition within Amibroker. Implementing the Ergodic Candlestick Oscillator within Amibroker, supported by a reliable data feed, offers traders a unique analytical tool that combines oscillatory indicators with Candlestick patterns for more nuanced market analysis.
/_SECTION_BEGIN("ECO");
r = Param( "TSI period 'Length':", 25, 1, 100, 1 );
s = Param( "TSI period 'Smoothing':", 13, 1, 100, 1 );
sig = Param( "Signal period:", 5, 1, 100, 1 );
x = C-O;
x1 = H-L;
a = EMA(EMA(x,r),s);
b = EMA(EMA(x1,r),s);
eco = 100 * ( a / b );
Plot( eco, "ECO("+r+","+s+")", ParamColor( "Color", colorRed ), ParamStyle("Style") );
Plot(EMA(eco,sig), "", colorLightBlue);
PlotGrid(0, colorLightGrey);
_SECTION_END();