315 Strategy AFL . This AFL is a 3 EMA & 15 EMA crossover. The AFL includes a trend ribbon which helps in decision making as per the trend prevalent at the time of the cross. When Ribbon is red, preferably the Buy trades should be avoided on crossover and when the ribbon is blue, preferably the sell trades should be avoided on crossover of the 3 EMA.
Moving average crossovers can sometimes be very annoying as they might result in multiple whipsaws and losses . This is mostly the case when the market is in a sideways mode.
confirm another signal or indicator to support the confirmation to trade.
Code here AFL
_SECTION_BEGIN("315 cross");
Plot(Close,"Price",colorBlack, styleCandle);
Plot(EMA(Close,3),"3EMA",colorBlue,style=styleThick);
Plot(EMA(Close,15),"15EMA",colorRed,style=styleThick);
Buy=Cross(EMA(Close,3),EMA(Close,15));
Sell=Cross(EMA(Close,15),EMA(Close,3));
Short=Sell;
Cover=Buy;
shape = Buy * shapeUpArrow + Sell * shapeDownArrow;
PlotShapes( shape, IIf( Buy, colorGreen, colorRed ), 0, IIf( Buy, Low, High ) );
_SECTION_END();
_SECTION_BEGIN("Magnified Market Price");
//by Vidyasagar, vkunisetty@yahoo.com//
FS=Param("Font Size",30,11,100,1);
GfxSelectFont("Times New Roman", FS, 700, True );
GfxSetBkMode( colorWhite );
GfxSetTextColor( ParamColor("Color",colorBlack) );
Hor=Param("Horizontal Position",600,1,1200,1);
Ver=Param("Vertical Position",1,1,830,1);
GfxTextOut(""+C, Hor , Ver );
YC=TimeFrameGetPrice("C",inDaily,-1);
DD=Prec(C-YC,2);
xx=Prec((DD/YC)*100,2);
GfxSelectFont("Times New Roman", 11, 700, True );
GfxSetBkMode( colorWhite );
GfxSetTextColor(ParamColor("Color",colorBlack) );
GfxTextOut(""+DD+" ("+xx+"%)", Hor , Ver+45 );
_SECTION_END();
_SECTION_BEGIN("Ribbon");
no=Param( "Swing", 20, 1, 55 );
res=HHV(H,no);
sup=LLV(L,no);
avd=IIf(C>Ref(res,-1),1,IIf(Ctsl,colorBlue,colorRed),styleOwnScale|styleArea|styleNoLabel, -0.5, 100 );
_SECTION_END();
