FCVS Trend base Indicator
The FCVS Trend-based Indicator in Amibroker AFL focuses on identifying and confirming trends in the market. It helps traders recognize the prevailing direction of the market trend, facilitating the determination of potential entry or exit points. This indicator utilizes various parameters to analyze price movements and highlight trend patterns, supporting traders in making informed decisions.
/_SECTION_BEGIN("fcVS");
period = Param("Period", 13, 1, 240, 1);
mult = Param("Multiplier", 1.7, 1, 240, 0.1);
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);
Plot(Close,"Close",colorBlack,styleCandle);
Plot(VS, "Vol Stop",IIf(trend==1,10,11 ),styleThick);
mkol = IIf( Trend==1, 10, 11);
Plot(5, "ribbon", mkol, styleOwnScale|styleArea|styleNoLabel, 0, -5); // Weekly trend
shape = Buy * shapeUpArrow + Sell * shapeDownArrow;
PlotShapes( shape, IIf( Buy, colorGreen, colorRed ), 0, IIf( Buy, Low-f, High+f));
_SECTION_END();