Accurate Overbought Oversold Wave Trading - aflcode.com | Latest collection of Amibroker afl 2023

Accurate Overbought Oversold Wave Trading
//www.aflcode.com
SetChartOptions(0,chartShowArrows|chartShowDates);
SetChartBkGradientFill( ParamColor("Inner panel upper",colorBlack),ParamColor("Inner panel lower",colorBlack));


ChannelPeriods = Param("Channel Periods",10,1,50,1);
AvgPeriods = Param("Average Periods",21,1,50,1);
OverBought = Param("Over Bought Line",64,0,100,1);
OverSold = Param("Over Sold Line",-64,-100,0,1);
ColTCI = ParamColor("TCI Line Color",colorBrown);
ColOB = ParamColor("Over Bought Color",colorRed);
ColOS = ParamColor("Over Sold",colorGreen);
XSpace = Param("GraphXSpace",7,0,20,0.5);

n1 = ChannelPeriods; // Channel periodsdefault is 10.
n2 = AvgPeriods; // Average periodsdefault is 21.

AP = Avg; //Typical Price
ESA = EMA(AP, n1);
D = EMA(abs(AP - ESA), n1);
CI = (AP - ESA) / (0.015 * D);
TCI = EMA(CI, n2);

WaveTrend1 = TCI;
WaveTrend2 = MA(WaveTrend1,4);

myColor = IIf (WaveTrend1 > WaveTrend2, colorBrightGreen,IIf (WaveTrend2 > WaveTrend1, colorRed ,colorLightYellow));

Plot(WaveTrend1,"WTrnd1 ",myColor,styleDots | styleThick);
//Plot(WaveTrend2,"WaveTrend2",colorLightYellow,styleDashed); 
Plot(WaveTrend2,"WTrnd2",ParamColor("Signal Line color", colorLightBlue),styleDots); 

Plot(OverBought,"OB Line",ColOB,8+16);//|styleNoLabel);//8+16
Plot(OverSold,"OS Line",ColOS,8+16);//|styleNoLabel);
Plot(n1,"Channel Periods",colorLightBlue,styleNoLabel |styleNoRescale |styleNoDraw);
Plot(n2,"Avg Periods",colorBlue,styleNoLabel |styleNoRescale | styleNoDraw);
Plot(0,"",colorRed,styleNoLabel);
//Plot(100,"",9 ,styleOwnScale | styleArea | styleNoLabel,-5,100);
//Background pane coloring

GraphXSpace = XSpace;