Join our facebook group for Amibroker afl code discussion https://www.facebook.com/groups/603980776889348

EMA RSI The Winning Combination

EMA RSI The Winning Combinationis one of the most widely used Amibroker afl. It is comprised of RSI ine and moving average line.Here, you have to find out the bullish or bearish crossover of lines. After bullish crossover, find green arrow and take an entry for long and exit when you see red arrow. For sell entry, do exactly opposite. Use this chart with candlestick chart for accurate results. This afl can be used for intraday as well as swing or short term trading.
EMA RSI The Winning Combination
EMA RSI The Winning Combination

//www.aflcode.com
_SECTION_BEGIN("plot ema of rsi");



r = Param("rsi", Optimize("RSI",39,1,39,1),1,39,1);
slow_per = Param( "smaller period",Optimize("smaller period",3,1,39,1),1,39,1);
fast_per = Param( "bigger", Optimize("bigger",27,1,50,1),1,50,1);

f = EMA(RSI(r),slow_per);


Buy = Cross (EMA(RSI(r),slow_per),EMA(RSI(r),fast_per));
Sell= f < Ref(f,-2);

Plot (EMA(RSI(r),slow_per),"slow rsi",colorBlue,styleThick);
Plot (EMA(RSI(r),fast_per),"fast rsi",colorRed,styleThick);


Short = Cross (EMA(RSI(r),fast_per),EMA(RSI(r),slow_per));

Cover =  f > Ref(f,-2);

PlotShapes(Buy*shapeUpTriangle,colorYellow);
PlotShapes(Short*shapeDownTriangle,colorYellow);
PlotShapes(Sell*shapeHollowSmallDownTriangle,colorRed);
PlotShapes(Cover*shapeHollowSmallUpTriangle,colorGreen);
_SECTION_END();
Previous
Next Post »