APIBridge, Amibroker
This tutorial shows how Range Breakout AFL Strategy can be used on charts of Amibroker to Trade
Strategy Premise
The RSI is perhaps the most popular momentum indicator among traders. By calculation, it compares increase in prices versus decrease in prices. It reaches the overbought level (70) when there is upwards momentum and trend is strong. When there is downward momentum, it goes to oversold level (30). Before going to the oversol level, the level 40 indicates that bulls have mostly extinguished in the market. We will use the default period 14 suggested by Welles Wilder.
Since we are using purely momentum to time our trades, any filter for sideways market is not required.
Strategy Logic
Buy: When RSI crosses above 70 level
Sell: When RSI crosses below 40 level
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: Add Separate Entry Exit Automation AFL after the strategy AFL and hit Apply.
Step 4: Right Click on the chart and go Parameters to adjust the inputs of the strategy.
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