This tutorial shows how Best SuperTrend Multiple ATR AFL can be used on charts of Amibroker to Trade in Index Options.
Strategy Premise
The default Supertrend indicator is a great tool to clearly identify trend. It is calculated by offsetting Average True Range (ATR) to create upper and lower band around prices. The direction of trend is decided by further using a stop-and-reverse trailing stop loss and then resetting the upper/lower bands when the TSL is breached.
Strategy Logic
Buy: when both ST1 and ST2 indicate uptrend (both generate Buy signal at same time)
Sell: when either of ST1 or ST2 indicates downtrend
When Supertrend gives Buy, it will send LE in Call and LX in Put. When Supertrend gives Sell, it will send LE in Put and LX in Call.
Amibroker Settings
Step 1: Make sure you have completed Jump Start setup
Step 2: Download AFL from here. In Amibroker, Go to Formula editor and paste the AFL here.
Step 3: Right Click on the chart and go Parameters to adjust the inputs of the strategy.
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