Keltner Channel is a volatility based indicator which has middle line , upper band and lower band. The concept is similar to Bollinger Bands, but varies in the way its calculated. Bollinger Bands are calculated using Standard Deviations, whereas Keltner Channel bands are usually calculated using Average True Range (ATR).
Bollinger band is an universally used volatility indicator by traders to identify squeeze and breakouts. There are couple of indicators derived out of Bollinger Bands and they are Band Width and Bollinger %B. In Amibroker Formula Language you need to calculate them before using them as there is no inbuilt indicator.
Some things as simple as identifying new day might be complex for a new AFL programmer. Following is the Amibroker Formula Language snippet for identifying new day. If your backtesting or trading system requires identifying new day and then use this information further for other analysis , then you can use this block of code after testing it for accuracy.
One of the initial pain point while using the data feed for my technical analysis tool is to know what are the tickers that are supported and the name of the symbol. I have created a list of ticker names and am publishing it so that any newbie can make use of it.
Basic understanding of the working of Amibroker database is very important before you start using the software or writing AFL code. Amibroker database is not a single file but it is a group of files organized in a way for better performance. Data like symbol names, quotes, study lines, layout info, watch-list, category, group etc are all stored in Amibroker database.
There are some tricks in using conditional function IIf() and also its not same as If-else control flow statement of Amibroker Formula Language. This article also highlights some unexpected behaviour when AFL IIf() function is used wrongly.
NSE is planning to conduct disaster recovery drill and as part of this they would be conducting live trading sessions on Nov 05 and Nov 07 from their disaster recovery site itself. Some of the data providers are not equipped to deal with this as they don’t have a connectivity with the disaster site. Retail traders need to plan for this event in case their data provider doesn’t have connectivity to disaster site.
Amibroker is a software used by traders for charting, scanning, design of trading strategies, backtesting , optimizing and finally generating buy & sell signals based on the automated mechanical system. Some traders use Amibroker as purely scanning and advanced charting software and trade by looking at the chart. Some traders develop algos for their trading in Amibroker and use them to trade.