Download: Tfs.ela
File Includes:
Strategy - TFS Signal
Indicator - TFS: MBO Indicator
Indicator - Tether Line
Indicator - Vol Osc Avg
Category: Strategy > TFS Signal
Description:
Inputs:
Signal TFS ELA Code:
INPUTS: TETHER(50), OSCAVG(7), MBOFAVG(25), MBOSAVG(200);
VARIABLES: MBO(0), TVAL(0), VOLACCUM(0), VOLOSC(0);
VOLACCUM = 0;
FOR VALUE1 = 0 TO OSCAVG -1 BEGIN
IF CLOSE[VALUE1] > OPEN[VALUE1] THEN
VOLACCUM = VOLACCUM + VOLUME[VALUE1];
IF CLOSE[VALUE1] < OPEN[VALUE1] THEN
VOLACCUM = VOLACCUM - VOLUME[VALUE1];
END;
TVAL = (HIGHEST(HIGH, TETHER) + LOWEST(LOW, TETHER)) / 2;
MBO = AVERAGE(CLOSE, MBOFAVG) - AVERAGE(CLOSE, MBOSAVG);
VOLOSC = VOLACCUM / OSCAVG;
{ENTRY CONDITIONS}
CONDITION1 = CLOSE CROSSES ABOVE TVAL;
CONDITION2 = VOLOSC > 0;
CONDITION3 = MBO > MBO[1];
IF CONDITION1 AND CONDITION2 AND CONDITION3 THEN
BUY NEXT BAR AT MARKET;
{TRAILING EXIT}
IF CLOSE CROSSES BELOW TVAL THEN
EXITLONG NEXT BAR AT MARKET;