How to Use Harmonic Patterns AFL Code for Amibroker 12
Harmonic patterns are a type of technical analysis tool that can help traders identify potential reversal points in the market. They are based on Fibonacci ratios and geometric shapes that form on the price chart. There are different types of harmonic patterns, such as Gartley, Butterfly, Crab, Bat, Shark and Cypher, each with its own rules and characteristics.
Amibroker is a popular trading software that allows users to create and test their own trading strategies using a programming language called AFL (Amibroker Formula Language). Amibroker 12 is the latest version of the software that offers many features and improvements, such as faster backtesting, multi-threading, 64-bit support, new indicators and functions, and more.
One of the advantages of Amibroker is that it has a large community of users who share their codes and ideas online. There are many AFL codes available for harmonic patterns that can be downloaded and used in Amibroker 12. However, not all of them are reliable or updated, so it is important to check the source and quality of the code before using it.
In this article, we will show you how to use one of the harmonic patterns AFL codes for Amibroker 12 that we found online. This code was created by E.M.Pottasch and modified by Rajandran R from Marketcalls.in. It can detect and plot five-point harmonic patterns (Gartley, Butterfly, Crab, Bat and Cypher) on any timeframe and symbol. It also has parameters that can be adjusted to change the swing strength, pattern size and color.
Steps to Use Harmonic Patterns AFL Code for Amibroker 12
Download the harmonic patterns AFL code from this link: https://www.marketcalls.in/amibroker/harmonic-patterns-afl-code-for-amibroker.html
Save the file as Harmonic.afl in your Amibroker/Formulas/Custom folder.
Open Amibroker 12 and select any symbol and timeframe that you want to analyze.
Go to Analysis > Formula Editor and open Harmonic.afl from the Custom folder.
Click on Apply Indicator button to add the code to your chart.
You should see the harmonic patterns drawn on your chart with different colors and labels.
You can change the parameters of the code by going to Parameters window. For example, you can change the BARS of each LINE parameter to increase or decrease the swing strength of the patterns. You can also change the Bullish Pattern and Bearish Pattern parameters to turn on or off the detection of bullish or bearish patterns.
You can also change the color and style of the patterns by going to Colors window. For example, you can change the Bullish Gartley color to green and the Bearish Gartley color to red.
Harmonic patterns are a useful tool for traders who want to find potential reversal points in the market. They can be used in conjunction with other technical indicators and methods to confirm the validity and direction of the signals. However, they are not foolproof and require practice and experience to master them.
Amibroker 12 is a powerful trading software that allows users to create and test their own trading strategies using AFL codes. There are many AFL codes available for harmonic patterns that can be downloaded and used in Amibroker 12. However, users should be careful about the source and quality of the codes and test them before using them in live trading.
We hope this article has helped you learn how to use one of the harmonic patterns AFL codes for Amibroker 12. If you have any questions or feedback, please feel free to leave a comment below. 061ffe29dd