Karthik's EOD Strategy based on INSIDE BAR

[karthik_sri]

Karthik,

COuld you advise if my assesment of Cipla based on your IB setup is right??

Thanks

Riskyman,
IB formed in CIPLA (Cash) but to initiate the trade the price should close above or below the mother candle High / Low. If you look at today candle it made low but didnt close below 359.50. But closed at 359.85. Let us wait & watch.

Karthik

 

[VIKAS 21]

New thread started link is here

http://www.traderji.com/technical-analysis/83107-three-bar-strategy.html#post779400

 

[Riskyman]

Riskyman,
IB formed in CIPLA (Cash) but to initiate the trade the price should close above or below the mother candle High / Low. If you look at today candle it made low but didnt close below 359.50. But closed at 359.85. Let us wait & watch.

Karthik

Karthik,

Cipla has a nice IB setup on the weekly charts. Take a look if you can and let me know what your assessment of it would be.

Thanks

 

[VIKAS 21]

............

 

[karthik_sri]

Karthik,

Cipla has a nice IB setup on the weekly charts. Take a look if you can and let me know what your assessment of it would be.

Thanks

Yes...it made low and closed below IB...We can consider going short below 354 (i.e we can place sell order at 353.60)

 

[mangup]

Hi Vikas 21,

I was reading to your initial posts in this thread, in which u explained ur method of trading IB. However i am not able to open the charts which u have attached there as an attachment linked with site imgur.com as thumbnail. Not a single chart can be opened.

Can u pl look into the problem & resolve it or use other method to view the chart in the post itself instead of as an attachment?

How can i now view those earlier chart so as to understand ur method?

Pl guide.

 

[xplorebuddy]

Quote:
Originally Posted by saivenkat
Anant bro.. have you made any modifications to the Inside bar.afl, i could see the column " IB formed on" in your screen shot ... the trigger list..
Whereas when i run the afl.. it does not appear in the results..

If time permits.. could you upload/ modify the Inside bar afl that you have formulated..

Tks & rgds
Yes Venkat. I have modified the AFL to show the day on which IB was formed. One of the members suggested and I made it. A little more improvement is pending. May be this week end I will do it and post the AFL.

-Anant

Anant sir please post the modified AFL and you also stopped posting TRIGGERS FOR TRADING

 

[xplorebuddy]

Anant sir have you modified AFL which has IB informed on,
can u post it here


thanks

 

[asnavale]

Anant sir have you modified AFL which has IB informed on,
can u post it here


thanks

Here is the modified (Version 1.8) AFL for Inside Bar Strategy:


_SECTION_BEGIN("INSIDEBAR");

SetChartOptions(0, chartShowDates | chartWrapTitle);

/****************************************************/
/* Variables Used in this AFL */
/* ========================== */
/* */
/* MH = Mother Bar High */
/* ML = Mother Bar Low */
/* */
/* S_Trig = The Bar on which Short Triggered */
/* L_Trig = The Bar on which Long Triggered */
/* Trig_Txt = Trigger to show in Exploration */
/* */
/* LT_Hi = High of Long Trigger Bar */
/* LT_Lo = Low of Long Trigger Bar */
/* ST_Lo = Low of Short trigger Bar */
/* ST_Hi = High of Short Trigger Bar */
/* */
/* RL = Long Trade range = LT_Hi - ML */
/* RS = Short Trade range = MH - ST_Lo */
/* */
/* L_Entry = Entry price for Long position */
/* L_Tgt = Target for Long position */
/* SL_Long = SL for Long position */
/* */
/* S_Entry = Entry price for Short position */
/* S_Tgt = Target for Short position */
/* SL_Short = SL for Short position */
/* */
/* IBDT = Date of InsideBar */
/* */
/****************************************************/



// INITIALISE VARIABLES

MH = ML = R = Null;
S_Trig = L_Trig = Null;
LT_Hi = ST_Lo = Null;
L_Entry = L_Tgt = SL_Long = Null;
S_Entry = S_Tgt = SL_Short = Null;
DT = DateTime();

// ASSIGN VALUES FOR VARIABLES

MH = ValueWhen(Inside(), Ref(H, -1), 1);
ML = ValueWhen(Inside(), Ref(L, -1), 1);

IBDT = ValueWhen(Inside(), DT, 1);

S_Trig = C < ML;
L_Trig = C > MH;

S_Trig = ExRem(S_Trig, Inside());
L_Trig = ExRem(L_Trig, Inside());

LT_Hi = ValueWhen(L_Trig, H, 1);
LT_Lo = ValueWhen(L_Trig, L, 1);
ST_Lo = ValueWhen(S_Trig, L, 1);
ST_Hi = ValueWhen(S_Trig, H, 1);

RL = LT_Hi - ML;
RS = MH - ST_Lo;

L_Entry = 1.001 * LT_Hi;
L_Entry = int((L_Entry * 2 + 0.0499) * 10) / 20;
S_Entry = 0.999 * ST_Lo;
S_Entry = int((S_Entry * 2 + 0.0499) * 10) / 20;

L_Tgt = int(((LT_Hi + RL / 2) * 2 +0.0499) * 10) / 20;
S_Tgt = int(((ST_Lo - RS / 2) * 2 +0.0499) * 10) / 20;

SL_Long = int(((LT_Hi - RL / 2) * 2 +0.0499) * 10) / 20;
SL_Short = int(((ST_Lo + RS / 2) * 2 +0.0499) * 10) / 20;

Bk_Color = IIf(L_Trig, colorPaleGreen, colorPink);
Txt_Color = IIf(L_Trig, colorGreen, colorRed);
Trig_Txt = WriteIf(L_Trig, "Go Long", WriteIf(S_Trig, "Go Short", ""));

/***********************************/
/* */
/* Display Chart */
/* */
/***********************************/

if(Status("action") == actionIndicator)
{

/****************/
/* */
/* ALERT OUTPUT */
/* */
/****************/

TxtX = Param("Text Left", 800, 0, 1000, 10);
TxtY = Param("Text Top", 70, 1, 650, 10);

GfxSelectFont("Tahoma", 14, 700 );
GfxSetBkMode(1);

if(SelectedValue(L_Trig))
{
GfxSetTextColor(colorBrightGreen);
GfxTextOut("Long Triggered", TxtX, TxtY);
GfxSelectFont("Arial", 12);
GfxTextOut("Go Long above: " + L_Entry, TxtX, TxtY + 25);
GfxTextOut("Target: " + L_Tgt, TxtX, TxtY + 50);
GfxTextOut("Stop Loss: " + SL_Long, TxtX, TxtY + 75);
}
else if(SelectedValue(S_Trig))
{
GfxSetTextColor(colorGold);
GfxTextOut("Short Triggered", TxtX, TxtY);
GfxSelectFont("Arial", 12);
GfxTextOut("Go Short below: " + S_Entry, TxtX, TxtY + 25);
GfxTextOut("Target: " + S_Tgt, TxtX, TxtY + 50);
GfxTextOut("Stop Loss: " + SL_Short, TxtX, TxtY + 75);
}

else
{
GfxSetTextColor(colorBlack);
GfxTextOut("", TxtX, TxtY);
}

Plot(C, "", colorLightGrey, styleCandle);
Plot(S_Entry, "Short below", colorLightOrange, styleDashed);
Plot(L_Entry, "Long above", colorSeaGreen, styleDashed);
// Plot(IIf(L_Entry, L_Tgt, IIf(S_Entry, S_Tgt, Null)), "Target", colorLightBlue, styleLine);
// Plot(IIf(L_Entry, SL_Long, IIf(S_Entry, SL_Short, Null)), "Stop Loss", colorYellow, styleLine);

PlotShapes(shapeHollowSmallCircle * Inside(), colorYellow, 0, L);
PlotShapes(shapeHollowSmallUpTriangle * L_Trig, colorYellow, 0, L);
PlotShapes(shapeHollowSmallDownTriangle * S_Trig, colorYellow, 0, H);

_N(Title = "Inside Bar Trading Strategy: Concept by Karthik.\n"
+ EncodeColor(colorSkyblue) + "AFL Version 1.8 coded by Anant Navale.\n"
+ StrFormat("{{NAME}} ({{INTERVAL}}), {{DATE}}; {{OHLCX}}; Vol = %1.0f \n", V)
+ EncodeColor(colorYellow) + WriteIf(Inside(), "Inside Bar. Wait for Trigger candle.", ""));
}

if(Status("action") == actionExplore)
{
Filter = (L_Trig OR S_Trig);

SetOption("NoDefaultColumns", True);
AddTextColumn(Name(), "SYMBOL", 77, colorBlue, Bk_Color, 125);
AddColumn(LastValue(IBDT), "IB FORMED ON", formatDateTime, colorBlue, Bk_Color, 100);
AddColumn(DateTime(), "TRIGGER DATE", formatDateTime, colorBlue, Bk_Color, 120);
AddTextColumn(Trig_Txt, "Trigger", 77, colorBlue, Bk_Color);
AddColumn(IIf(L_Trig, L_Entry, S_Entry), "Entry Price", 1.2, IIf(L_Trig, colorDarkGreen, colorRed), Bk_color, 80);
AddColumn(IIf(L_Trig, L_Tgt, S_Tgt), "Target", 1.2, colorDefault, Bk_Color, 80);
AddColumn(IIf(L_Trig, SL_Long, SL_Short), "Stop Loss", 1.2, colorBlue, Bk_Color, 80);
AddColumn(C, "C. M. P.", 1.2, colorBlue, Bk_Color,80);
}


_SECTION_END();


-Anant

 

[saivenkat]

Thanks a lot Anant bro..