Dear Ananat
Have been using your latest moving Avg (WMA) for intraday and it is great tool.
Just had a doubt and request, while the price is moving up that is once the 20 WMA line is crossed above then Target lines are visible above 20WMA, but similarly when prices crosses below 20WMA then it DOES NOT show the next support targets, if you could help me in modifying the existing program which would show targets even for shorts as similar to longs, will be Truly helpful.
Many Thanks
Arun.
Have been using your latest moving Avg (WMA) for intraday and it is great tool.
Just had a doubt and request, while the price is moving up that is once the 20 WMA line is crossed above then Target lines are visible above 20WMA, but similarly when prices crosses below 20WMA then it DOES NOT show the next support targets, if you could help me in modifying the existing program which would show targets even for shorts as similar to longs, will be Truly helpful.
Many Thanks
Arun.
The AFL was not meant for intraday. Therefore it gives TGT/SL only for LONG. In delivery based trading you can go long only, you can not short-sell. But in intraday it is possible to shortsell but the AFL does not give target/SL for short trades. Though the AFL was developed for short/mid term trading it does work well in intra day trading also. It gives good results if the time frame is 5 minutes or more. If you can carry forward your intraday positions for subsequent days then it is very good system. But in most cases you have to square off your intraday positions on the same day and you lose quite heavily when the price is moving in your direction and you are forced to square off.
For shorting this AFL can not give the target. But you have to manually track and decide the exit. The trailing stoploss is always drwan even when the price is going down. So, you can take the previous higher level SL as trigger for exiting Short. Till it happens just hold your position. No target but SL will be there so that you can take a good amount of profit. If you want I will try to post a chart to show what I am trying tell.
-Anant