FCVS Arrow Lines
FCVS Arrow Lines, an Amibroker AFL indicator, represent trend direction through arrow signals. These arrows indicate potential entry or exit points based on market trends. Traders use these signals to confirm the direction of a trend, aiding in decision-making for trade entries or exits.
/_SECTION_BEGIN("fcVS");
// fcVS
//
// volatility stop
//
// version :1.0 // first release
// version :1.1 // fixed buy/short for backtesting and added options
SetBarsRequired(1000000, 1000000);
SetChartOptions(2,chartShowArrows|chartShowDates);
SetTradeDelays(0,0,0,0);
period = Param("Period", 13, 1, 240, 1);
mult = Param("Multiplier", 1.7, 1, 240, 0.1);
showPrice = ParamToggle("Show Price","No|yes",1);
showArrows = ParamToggle("Show Arrows","No|yes",1);
showRibbon = ParamToggle("Show Ribbon","No|yes",1);
f=ATR(period);
VS[0] = Close[0];
trend[0] = 0;
HighC[0]=0;
Lowc[0]=0;
for( i = period+1; i < BarCount; i++ )
{
vs[i] = vs[i-1];
trend[i] = trend[i-1];
highC[i] = HighC[i-1];
lowc[i] = lowc[i-1];
if ((trend[i]>=0) && ( C[i] VS[i]))
{
trend[i]=1;
HighC[i] = C[i];
lowc[i] = C[i];
}
if (trend[i]==-1)
{
if (C[i]HighC[i]) HighC[i] = C[i];
VS[i]= HighC[i]-(mult*f[i]);
}
}
Buy=Cross(Trend,0);
Sell=Cross(0, Trend);
Short = Sell;
Cover = Buy;
if (ShowPrice) Plot(Close,"Close",colorGrey40,styleCandle);
Plot(VS, "Vol Stop",IIf(trend==1,10,11 ),styleThick);
mkol = IIf( Trend==1, 10, 11);
if (ShowRibbon) Plot(5, "ribbon", mkol, styleOwnScale|styleArea|styleNoLabel|styleNoTitle, 0, -5);
shape = Buy * shapeUpArrow + Sell* shapeDownArrow;
if (ShowArrows) PlotShapes( shape, IIf( Buy, colorGreen, colorRed ), 0, IIf( Buy, Low-f, High+f));
_SECTION_END();