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Amazing Volume Spike Trading System

Amazing Volume Spike Trading System
Amazing Volume Spike Trading System

//www.aflcode.com
//=====================Basic Section=======================================
_SECTION_BEGIN("Effort versus Result- V.1.0");
SetChartOptions(0,chartShowArrows|chartShowDates);
Vlp=Param("Volume lookback period",30,20,300,10);
Vrg=MA(V,Vlp);// average volume
spread=(H-L);
avgSpread=Wilders(spread,Vlp);
//----------------------EFFORT Index indicator code trial------------

Effort=V*spread*(C-Ref(C,-1));
effortSmt=(Effort+(2*Ref(Effort,-1))+(2*Ref(Effort,-2))+Ref(Effort,-3))/6;
avgEffort=Vrg*avgSpread*(C-Ref(C,-1));
avgEffortSmt=(avgEffort+(2*Ref(avgEffort,-1))+(2*Ref(avgEffort,-2))+Ref(avgEffort,-3))/6;
//----------plotting----------------------
Plot(avgEffortSmt,"Average Result",colorRed,2|styleThick);
Plot(effortSmt,"Effort Index",colorLime,2|styleThick);
PlotShapes(IIf(C>Ref(C,-1),IIf(effortSmt>0,shapeSmallCircle+shapePositionAbove,shapeSmallCircle),shapeNone),colorLime,effortSmt,effortSmt);
PlotShapes(IIf(C<Ref(C,-1),IIf(effortSmt>0,shapeSmallCircle+shapePositionAbove,shapeSmallCircle),shapeNone),colorRed,effortSmt,effortSmt);
PlotShapes(IIf(C<Ref(C,-1),IIf(effortSmt>0,shapeHollowCircle+shapePositionAbove,shapeSmallCircle),shapeNone),colorRed,effortSmt,effortSmt);
PlotShapes(IIf(C>Ref(C,-1),IIf(effortSmt<0,shapeHollowCircle,shapeSmallCircle+shapePositionAbove),shapeNone),colorLime,effortSmt,effortSmt);
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