Support Resistance Based Trading System

How to use Support Resistance Based Trading System Amibroker afl?

Support Resistance Based Trading System is one of the most reliable trading system. It generates accurate signals most of the times. Support Resistance Based Trading System correctly identifies beginning of the new trend and gives buy or sell signals accordingly. Support Resistance Based Trading System can be used in any timeframe but it works perfectly in daily time frame. Support Resistance Based Trading System is very useful for swing trading or short term trading. Support Resistance Based Trading System afl can be used with any lagging indicator like RSI, MACD, Stochastic to avoid false signals.

//www.aflcode.com

_SECTION_BEGIN("Dynamic Support Resistance");

SetTradeDelays( 1, 1, 1, 1 );
SetOption( "InitialEquity", 200000);
SetOption("FuturesMode" ,True);
SetOption("MinShares",1);
SetOption("CommissionMode",2);
SetOption("CommissionAmount",50);
SetOption("AccountMargin",10);
SetOption("RefreshWhenCompleted",True);
SetPositionSize(150,spsShares);
SetOption( "AllowPositionShrinking", True );
BuyPrice=Open;
SellPrice=Open;
ShortPrice=Open;
CoverPrice=Open;

SetChartOptions(0,chartShowArrows|chartShowDates);
_N(Title = StrFormat("{{NAME}} - {{INTERVAL}} {{DATE}} Open %g, Hi %g, Lo %g, Close %g (%.1f%%) {{VALUES}}", O, H, L, C ));

Plot( Close, "Price", colorWhite, styleCandle );

period=Optimize("Swing",3,1,25,1);
res=HHV(H,period); //resistance
sup=LLV(L,period); //support
DynamicPivot=IIf(ValueWhen(IIf(C>Ref(res,-1),1,IIf(C<Ref(sup,-1),-1,0))!=0,IIf(C>Ref(res,-1),1,IIf(C<Ref(sup,-1),-1,0)),1)==1,sup,res); 
//If current close breaks the resistance then dynamic pivot level would be last support, if close breaks the support then dynamic pivot level will be last resistance
Plot(DynamicPivot, "DynamicPivot", colorBlue, styleStaircase);
Buy = Cross(C,DynamicPivot) ;
Sell = Cross(DynamicPivot,C)  ;
Short = Sell;
Cover = Buy;

StopLoss=2;

ApplyStop(Type=0,Mode=1,Amount=StopLoss);

/* Plot Buy and Sell Signal Arrows */
PlotShapes(IIf(Buy, shapeSquare, shapeNone),colorGreen, 0, L, Offset=-40);
PlotShapes(IIf(Buy, shapeSquare, shapeNone),colorLime, 0,L, Offset=-50);
PlotShapes(IIf(Buy, shapeUpArrow, shapeNone),colorWhite, 0,L, Offset=-45);
PlotShapes(IIf(Cover, shapeSquare, shapeNone),colorGreen, 0, L, Offset=-40);
PlotShapes(IIf(Cover, shapeSquare, shapeNone),colorLime, 0,L, Offset=-50);
PlotShapes(IIf(Cover, shapeUpArrow, shapeNone),colorWhite, 0,L, Offset=-45);
PlotShapes(IIf(Sell, shapeSquare, shapeNone),colorRed, 0, H, Offset=40);
PlotShapes(IIf(Sell, shapeSquare, shapeNone),colorOrange, 0,H, Offset=50);
PlotShapes(IIf(Sell, shapeDownArrow, shapeNone),colorWhite, 0,H, Offset=-45);
PlotShapes(IIf(Short, shapeSquare, shapeNone),colorRed, 0, H, Offset=40);
PlotShapes(IIf(Short, shapeSquare, shapeNone),colorOrange, 0,H, Offset=50);
PlotShapes(IIf(Short, shapeDownArrow, shapeNone),colorWhite, 0,H, Offset=-45);


_SECTION_END();

How to use Support Resistance Based Trading System Amibroker afl?

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