Magic Cross Trend Line
Integrating a Magic Cross Trend Line into Amibroker AFL enhances trend analysis capabilities. This visual element, combined with other indicators or price action within the AFL script, aids traders in identifying significant trend changes or potential reversals. Leveraging amibroker data feed functionalities supports real-time analysis, enabling traders to adjust the parameters of the Magic Cross Trend Line for more accurate trend identification.
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_SECTION_BEGIN("macd rsi");
EMA3 = EMA(RSI(14),3);
ema27 = EMA(RSI(14),27);
diff = ema3-EMA27;
ema_short = EMA(diff,Param("short ema",1,1,20,1));
EMA_Long = EMA(diff,Param("long ema",5,1,20,1));
Col_rsi = IIf (EMA_long > Ref(EMA_long,-1),colorBlue,colorRed);
Plot (EMA_short,"diff in rsi1",colorYellow,styleThick);
Plot (EMA_long,"diff in rsi5",Col_rsi,styleThick);
Plot (0,"",colorWhite,styleThick);
Buy = Cross (EMA_short,EMA_long);
Sell = Cross (EMA_long, EMA_short);
Short = Sell;
Cover = Buy;
PlotShapes (shapeHollowSmallUpTriangle*Buy,colorYellow);
PlotShapes (shapeHollowSmallDownTriangle*Sell,colorYellow);
Plot(6, "ribbon", Col_rsi, styleOwnScale| styleArea|styleNoLabel,-0.5,100);
_SECTION_END();