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Perfect-Indicator-Careymac-Short-Term

Perfect-Indicator-Careymac-Short-Term
Perfect-Indicator-Careymac-Short-Term
//www.aflcode.com
_SECTION_BEGIN("Trading CAREYMAC");
// CAREYMAC INDICATOR - Short-term (ST) & Medium-term (MT)
/* This formula was developed to signal short-term trend changes 
in the direction of the CONFIRMED Medium-Term trend.
What I had in mind was in effect a "buy in the dips" strategy for
traders, 
where entries would only be made in the direction of the medium term
trend.  

The red histogram plots the MT trend as being up (above zero line) 
or being down (below zero line).
The black line plots the ST trend in the same manner.

/* Long Entry trading Signals
The red Histogram MUST be above zero.
The long entry is signalled when the black ST line, after dipping 
BELOW the zero line, reverses back up (green arrow).

Short Entries trading Signals
The red Histogram MUST be below zero.
The Short entry is signalled when the black ST line, after dipping 
ABOVE the zero line, reverses back down (red arrow).  */

// NB. Exits are NOT sigalled. Your specific exits will enablebacktesting.
// As usual, signals appear more reliable in less volatile markets. 

// CODE:
// CAREYMAC
// AFL code by Gerard Carey
// 13th Feb 2006

ST= (EMA(Avg,2)-EMA(Avg,10)) + (EMA(Avg,1)-EMA(Avg,5)) ;
MT= (EMA(Avg,6)-EMA(C,30)) + (EMA(Avg,3)-EMA(Avg,15)) ;

Plot(ST,"CAREYMAC/ST",55,4);
Plot(MT,"  CAREYMAC/MT",4,4);
Plot(MT,"",19,2+4);

Plot(0,"",IIf(C>EMA(C,34),6,4));

CondA= MT>0 AND (ST<0 OR Ref(ST,-1)<0) AND ST>Ref(ST,-1) 
AND Ref(ST,-1)<Ref(ST,-2) ;
PlotShapes( shapeSmallUpTriangle*CondA, 27) ;

CondB= MT<0 AND (ST>0 OR Ref(ST,-1)>0) AND ST<Ref(ST,-1) 
AND Ref(ST,-1)>Ref(ST,-2) ;
PlotShapes( shapeSmallDownTriangle*CondB, 4);
_SECTION_END();
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