📄 trending ribbon.afl
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//------------------------------------------------------------------------------
//
// Formula Name: Trending Ribbon
// Author/Uploader: Jim Wiehe
// E-mail:
// Date/Time Added: 2006-07-17 06:22:25
// Origin: It leaked out of my brain.
// Keywords: ADX and MACD
// Level: basic
// Flags: indicator
// Formula URL: http://www.amibroker.com/library/formula.php?id=635
// Details URL: http://www.amibroker.com/library/detail.php?id=635
//
//------------------------------------------------------------------------------
//
// This uses the nifty ribbon function in Amibroker. I use this in most of my
// price charts because it reduces the clutter with too many indicators on the
// screen. So if the ribbon is green both the MACD and ADX have started
// trending up. If the ribbon is red both the MACD and ADX are trending down.
//
//------------------------------------------------------------------------------
// Paste the code below to your price chart somewhere and green ribbon means both
// both MACD and ADX trending up so if the red ribbon shows up the MACD and the ADX
// are both trending down.
_SECTION_BEGIN("trending ribbon");
uptrend=PDI()>MDI()AND Signal()<MACD();
downtrend=MDI()>PDI()AND Signal()>MACD();
Plot( 2, /* defines the height of the ribbon in percent of pane width */"ribbon",
IIf( uptrend, colorGreen, IIf( downtrend, colorRed, 0 )), /* choose color */
styleOwnScale|styleArea|styleNoLabel, -0.5, 100 );
_SECTION_END();
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