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Hi,
Enclosed is my First Indicator using AFL in Amibroker.
This will show Price with possible support & resistant
targets using FIBONACCI METHODS.
For example, suppose a security made a high of 150 and
low of 121 and last closing is 129. Now, an Upside
target of 167.90/- (Using 161.8%) will be there, but
other % are also very popular such as 38.2%, 61.8 etc,
if all the possible targets are shown in the graph, it
will be very complicated & not looks good. Thus, I’m
trying to make this Indicator intelligent so that at
the time closing is 129 it’ll show targets calculated
23.6,38.2,61.8 percents only. But as soon as prices
cross High/Low, It’ll show you the Upper/Lower targets
calculated at 1.236, 1.382, and 1.618.
The idea came on my mind when Mr. DT wrote an
indicator for me. The other idea, you can see there
will be no Line graph of High/Low, also from DT to
hide Line graph.
Dear DT & TJ, I want to use the target calculated by
2.236. I tried but faced the problem of scaling as
some time it may be in minus or far upper side leaving
the graph FUNNY.
Any idea?
KAILASH K PAREEK ( JOHNNY )
/*Fibonacci Targets- Coded by
Kailash K Pareek - INDIA*/
perch=10;
R1=1.236;
R2=1.382;
R3=1.618;
K1=.236;
K2=.382;
K3=.618;
maxgraph=10;
p1=peak(h,perch,1);
graph0=p1;
graph0style=16;
v1=trough(l,perch,1);
graph2=v1;
graph2style=16;
df=p1-v1;
t1=v1+R1*df;
t2=v1+R2*df;
t3=v1+R3*df;
b1=p1-R1*df;
b2=p1-R2*df;
b3=p1-R3*df;
C1=p1-K1*df;
C2=p1-K2*df;
C3=p1-K3*df;
graph1=iif(close>p1,t1,IIF(close<v1,b1,c1));
graph3=iif(close>p1,t2,IIF(close<v1,b2,c2));
graph4=iif(close>p1,t3,IIF(close<v1,b3,c3));
graph5=close;
graph5style=128;
graph1color=6;
graph1style=8+16;
graph3color=8;
graph3style=8+16;
graph4color=12;
graph4style=8+16;
graph6=ema(close,200);
graph6barcolor=10;
graph7=ema(close,90);
graph7barcolor=15;
graphxspace=0.5;
title=name() + "- Fibo GREEN- " +writeval(graph1,
format=1)+
",YELLOW- "+writeval(graph3,format=1)+
",PINK- "+writeval(graph4,format=1)+" ,90EMA- "
+writeval(graph7,format=1)+", 200EMA- "
+writeval(graph6,format=1)+",
High-"+writeval(graph0,format=1)+
", Low-"+writeval(graph2,format=1);
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