My System - My trades.

[varunkochhar]

You may avoid this in the AFL for price charts. I just need a line incorporating 36EMA and LV bar in price charts. Or if line is not possible then the colour of the candles say green above these levels and red below them.

 

[varunkochhar]

The reason i put more weightage on OBV is that according to my limited understanding, this buying and selling (OBV) moves markets. The Price levels are just a byproduct of this buying and selling. I know this statement will not go down well with pure price traders so i respect our differences.

 

[varunkochhar]

When both are not in sync just SOH or nurture your existing trades by tightening the logical stops, but no fresh trades during this time. You need to curb your urge to be trigger happy.

 

[monkeybusiness]

If we can have a line in price charts (something like a supertrend line) but with the logic of say green when price is above 36EMA and LVbar then we can have a complete system.
We take trades only when both price and OBV are in sync combining these 2 (price and OBV) charts. i.e. Long when both are green and short when both are red. Just exploring the possibility for automating.

Extermist Ji, please help I am unable to plot lines properly.

 

[extremist]

If we can have a line in price charts (something like a supertrend line) but with the logic of say green when price is above 36EMA and LVbar then we can have a complete system.
We take trades only when both price and OBV are in sync combining these 2 (price and OBV) charts. i.e. Long when both are green and short when both are red. Just exploring the possibility for automating.

VKSL line (Ver 1.00)

_SECTION_BEGIN("VKSLline V 1.00");

n=Day() != Ref(Day(), -1);

a=LowestSince(n,V);
hh=ValueWhen(V==a,H);
ll=ValueWhen(V==a,L);

hr = ValueWhen(V==a,Hour());
mn = ValueWhen(V==a,Minute());
e36 = EMA(C,36);

res=max(e36,hh);
sup=min(e36,ll);
avd=IIf(C>Ref(res,-1),1,IIf(C<Ref(sup,-1),-1,0));
avn=ValueWhen(avd!=0,avd,1);
tsl=IIf(avn==1,sup,res);
col = IIf(avn==1,colorGreen,colorRed);

plot(tsl,"\nVKSL ",col,stylethick);

_SECTION_END();

Save this code to Custom folder and Drag drop that code on existing price chart.

As it is Ver 1.00 ...
some other versions may also come.

for now this is what i thought.

 

[varunkochhar]

Thanks Extremist ji for your efforts. Looks good at first glance. Now the hard part, who is going to backtest it ?

 

[monkeybusiness]

VKSL line (Ver 1.00)

_SECTION_BEGIN("VKSLline V 1.00");

n=Day() != Ref(Day(), -1);

a=[B]highestSince(n,V)[/B];
hh=ValueWhen(V==a,H);
ll=ValueWhen(V==a,L);

e36 = EMA(C,36);

res=max(e36,hh);
sup=min(e36,ll);
avd=IIf(C>Ref(res,-1),1,IIf(C<Ref(sup,-1),-1,0));
avn=ValueWhen(avd!=0,avd,1);
tsl=IIf(avn==1,sup,res);
col = IIf(avn==1,colorGreen,colorRed);

plot(tsl,"\nVKSL ",col,stylethick);

_SECTION_END();

Save this code to Custom folder and Drag drop that code on existing price chart.

As it is Ver 1.00 ...
some other versions may also come.

for now this is what i thought.

Sir,
shouldnt it be lowestsince?

 

[varunkochhar]

It is prone to whips at the opening. So how does one get over it. How about using the last LVBAR/36EMA signal of the day at the opening to think of a reversal in trend as at the opening the LVBAR takes some time to stabilise. Any other caveat you all can think ?

 

[extremist]

My apologies...

I made 1 mistake previously in abv code.

Now updated it

Please take new code


Sorry....

 

[varunkochhar]

Extremist ji does this line change colour (repaint) in real time. If it does, then good. If take the OBV line colour as primary, then we look to go long when this line becomes green and vice versa for shorts. We wait to take a trade till both the lines are of the same colour. Is my logic right. Pls reply anybody and everybody including Extremist ji and MB ji.