AmiBroker exploration

Having recently discovered and purchased AmiBroker software I am keen to learn how to code my own indicators, trading systems and filters. Part of my own personal development will benefit by logging and sharing my various experiments and code, with today’s post showcasing my first ever trade exploration.

My first exploration intends as a quick method of comparing performance and volatility of chosen markets, whilst also serving to suggest the trend as bullish or bearish, reflecting the direction as red or green on the exploration.

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Kiwi Dollars

A$ on track to dip below parity with New Zealand

By Stephan Cauchi

The Australian dollar is on the verge of a historic low against the New Zealand dollar and could even go below parity next year, according to foreign exchange broker ThinkForex.

Currently, one Australian dollar buys $1.049 New Zealand dollars – just above the $1.042 low reached in 2006.

“The currencies have always traded above parity since being floated so this will be an historic event,” said ThinkForex senior market analyst Matt Simpson.

The Aussie hold above parity was looking “increasingly tenuous,” he said.

View original post on Sydney Morning Herald

USING FX FUTURES CHARTS TO ANALYSE THE FOREX MARKETS

If you’re short of time or struggle to analyse 30+ Forex Markets regularly then here is a way to quickly filter through to the high probability charts. By using Currency Futures charts we can very quickly look for relative strength of Currencies to help pair the strong against the weak. We can do so by using traditional Technical Analysis to identify trends, patterns or even trade signals, before pairing the strongest currencies with the weakest. The free www.finviz.com charts below consist of daily: AUD, CAD, CHF, EUR, GBP, JPY, NZD, USD.

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DXY – Weekly Cycles

I only use Cycles as a rough guide but I have observed the following:
– 84 wk Cycle on DXY seems feasible and generates the next trough around mid-Feb 2013
– 42wk cycle appears to have topped around mid July ‘12
– Cycles are more prominent within triangles and the 84wk cycle has been reasonable accurate
since 1994 (and particularly accurate over the last 5 troughs)

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GOLD – Targeting 1700?

WEEKLY CHART
– Gold has approached the upper Weekly Bollinger Band and hit resistance around 1800
– Stochastics generated a sell signal with a Shooting Star Reversal candle last week, followed by a bearish week

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Getting Mean with Bollinger Bands

After a discussion with a fellow trader it’s become apparent I have not been paying enough attention to good old fashioned Bollinger Bands. Here I take a look at reversal candles in combination with bollinger bands.

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LSE:TW – Symmetrical Triangle

– Today TW. closed above descending trendline on volume
– Outperforming FTSE100
– Medium/Short-term trends are bullish
SUPPORT: 50eMA and ascending trendline
RESISTANCE: Historical level around 55
ENTRY: Live at market (assuming no Gap up tomorrow) or look for intraday retracement towards descending trendline
STOP: Beneath Tuesday’s candle around 49.5 or the 50eMA around 48.9
TARGET: 56 or 59, depending on how you decide to measure your triangles.

LSE:DEB – Ascending Triangle

Trend:        
– Short/Medium-Term bullish
– Established ascending trendline
– Trading above 8/21/50/200eMA’s
Volume:      
– Volume Profile shows heavy volume around 81 and 78.5, providing likely support levels
– Note the contracting volume over the last 3 sessions – this can be a character of breakouts, but we’d want to see an increase in volume to confirm the breakout
Target:
– Point & Figure Chart (P&F) projects approximate target of 90.5 and confirm Triple Top breakout
– Ascending Triangle projects approximate target around 90.3 (also note that intraday looks like an inverted Head and Shoulders continuation pattern)
– The 90’s would be the minimum target, but also note the historical swing high (and psychological round number) of 100 as a potential target
Conclusion:
– A break below the trendline would invalidate the setup, but we’d need to see a close beneath the 8/21 eMA’s to warn of a short-term reversal
– Ideally we want to see a close above 83.9 on higher volume to confirm the breakout, but a more conservative approach could be to see if this level becomes support before entering long (and achieving a higher reward/risk)
– Otherwise beneath 81 is a sensible stop-loss level

LSE:SPD – CHANNEL BREAKOUT

Sports Direct International (LSE:SPD) broke out of the channel to the upside on Friday to continue the medium and short-term bullish trend.
The bullish view is supported by price trading above the 50/200eMA’s and cloud (see Ichimoku chart) whilst volume and OBV (on balance volume) confirm buying pressure on the breakout itself. Another bullish confluence can be seen on the P&F ‘Spread Triple Top’ which also generated a buy signal above 295.
ENTRY: Live at market (assuming we don’t gap up) or wait for a retracement around 300
CONSERVATIVE STOP: Beneath the Hanging Man candle and 50eMA around 279
AGGRESSIVE STOP: Beneath Thursday’s candle around 288
TARGET: 330 (Channel projection)

LSE:BARC – Bearish Pennant

– Bearish pennant appears to be forming with price currently trading beneath the 50/200eMA
– Ratio line between Barclays and FTSE100 broke its ascending trendline which shows Barclays is under-performing against FTSE
– Pennants can be messy patterns to trade and may require continual adjustment of the trendlines as the pattern evolves
– However if we see a clean break on heavy volume either intraday or EOD of day we can look to enter short and target the 175 area.
– Stops can be above 223 or lower, depending on how price breaks out (ie if we see a breakaway gap to the downside then use the gap to place your stop for a tighter reward/risk)

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