Kaleidoscope 1.1
The Kaleidoscope 1.1 AFL might represent an updated version (1.1) of a trading system or indicator named “Kaleidoscope.” It likely offers specific technical analysis tools or signals optimized for market analysis. Utilizing an Amibroker data feed, this AFL assists traders in implementing strategies derived from the Kaleidoscope system.
//*It is very good. I don't understand the reasoning behind formula yet, I just tried it.
Since this is a combination of elements, I added another AND colored it. I added a colored
Correlation formula with the TSE Stock Index AND a system I use to look for Short trending stocks.
Here is the result.*/
/* CCT Kaleidoscope
**
** Originally developed by Steve Karnish
** http://www.cedarcreektrading.com
**
** AFL translation by Tomasz Janeczko
**
** Set scaling: Automatic
** Grid: Middle
*/
k=LinRegSlope(C,13)+ 100 * ( EMA( EMA( C - Ref( C, -1 ) ,34 ) ,21)/
EMA( EMA( abs( C - Ref( C, -1) ),34 ), 21 ) )+100 *
( EMA( EMA( C - (0.5 * ( HHV(H,13) + LLV(L,13))),21),3)/
(0.5 * EMA( EMA( HHV(H,13) - LLV(L,13),21),3 ) ) );
EMAk=EMA(k,104);
kse=Foreign("KSE-100","C");
Gra=C;
Summ=Correlation(kse,GRA,13);
Graphh=EMA(Summ,5);
Upbar1=Graphh>0 AND C>Ref(C,-5) AND H>Ref(H,-5) AND Low>Ref(L,-5);
Upbar2=Graphh<0 AND C>Ref(C,-5) AND H>Ref(H,-5) AND Low>Ref(L,-5);
Downbar1=Graphh>0 AND C