How to Use RSI Color For Amibroker (AFL)
RSI WITH OVERBOUGHT & OVERSOLD COLOR AMIBROKER AFL
RSI with Overbought & Oversold color for Amibroker Afl is a modify afl. This is actually modify base on overbought & oversold zone situation. This is RSI Indicator, with colored Overbought and Oversold area , to make easier to analyze. Many trader agree that this is the best RSI afl forever.
Image of AFL [amibroker formula language].
RSI – Relative Strength Indicator is developed by J. Welles Wilder and introduced in his book, New Concepts in Technical Trading Systems, the Relative Strength Index (RSI) is an extremely popular momentum oscillator.
The RSI compares the magnitude of a stock’s recent gains to the magnitude of its recent losses and turns that information into a number that ranges from 0 to 100. It takes a single parameter, the number of time periods to use in the calculation.
The Image show the color zone of overbought & oversold. This makes a sense by one touch for trade.
RSI trading system afl & Amibroker RSI formula is a similar pattern. If you want to find out RSI crossover afl, RSI buy sell signal afl deeply than read our other article.
RSI WITH OVERBOUGHT & OVERSOLD COLORED AMIBROKER AFL CODE
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 | //------------------------------------------------------------------------------ // Formula Name : RSI WITH OVERBOUGHT & OVERSOLD COLOURED FOR AMIBROKER AFL by pipschart // Author : KrT group // Up-loader : www.pipschart.com // E-mail : info@pipschart.com // Amibroker Blog : www.pipschart.com/amibroker // Origin : Modified & Collected from different sources. //------------------------------------------------------------------------------ _SECTION_BEGIN("KrT group Logo"); GfxSetBkMode(1); X=750; Y=1; Font=10; GfxSelectFont("Impact",Font*2.2, 550);GfxSetTextColor(colorRed);GfxTextOut("KrT group",x,y); GfxSelectFont("Impact",Font*2.2, 550);GfxSetTextColor(colorGreen);GfxTextOut("RESEARCH",x+120,Y); _SECTION_END(); //------------------------------------------------------------------------------ _SECTION_BEGIN("RSI"); SetChartOptions(0,0,ChartGrid30|ChartGrid70,0,100); periods = Param( "Periods", 14, 1, 200, 1 ); z = RSI( periods); RSILineColor = ParamColor("RSI Line Color",ColorRGB(127,0,83)); RSIOverboughtColor = ParamColor("RSI Overbought Color",ColorRGB(127,0,83)); RSIOversoldColor = ParamColor("RSI Oversold Color",colorRed); Plot( z, _DEFAULT_NAME(), RSILineColor , styleLine ); Plot( 50, _DEFAULT_NAME(), RSILineColor , styleDashed|styleNoTitle ); Plot( 70, _DEFAULT_NAME(), RSILineColor , styleLine|styleNoTitle ); Plot( 30, _DEFAULT_NAME(), RSILineColor , styleLine|styleNoTitle ); PlotOHLC(z,z,50,z,"",IIf(z>50,RSIOverboughtColor,RSIOversoldColor),styleCloud|styleClipMinMax,30,70); _SECTION_END(); |
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