Intraday Breakout Trading Setup

This is one of the greatest AFL for trading highly successful. All this system involves BO with Target and stoploss. 

 

_SECTION_BEGIN("IBL");

    SetChartOptions(0,chartShowArrows|chartShowDates);
    ScanLookBack = Param("Scan Lookback", 2, 1, 25 );
    fraction= IIf(StrRight(Name(),3) == "", 3.2, 3.2);

_SECTION_END();

_SECTION_BEGIN("Price");
    SetChartOptions(0,chartShowArrows|chartShowDates);
    _N(Title = StrFormat("{{NAME}} - {{INTERVAL}} {{DATE}} Open %g, Hi %g, Lo %g, Close %g (%.1f%%) Vol " +WriteVal( V, 1.0 ) +" {{VALUES}}", O, H, L, C, SelectedValue( ROC( C, 1 )) ));   
    Plot( C, _DEFAULT_NAME(), colorBlack , styleNoTitle | ParamStyle("Style") | GetPriceStyle() );
_SECTION_END();

_SECTION_BEGIN("Up Trend Line");
   
    UTValue1=LastValue(Trough(L,0.5,2));
    UTValue2=LastValue(Trough(L,0.5,1));
    UTBar1=BarCount - 1 - LastValue(TroughBars(L,0.5 ,2));
    UTBar2=BarCount - 1 - LastValue(TroughBars(L,0.5 ,1)); 
    UpTrendLine = LineArray( UTBar1, UTValue1, UTBar2,UTValue2, 1 );
    UTLine = LineArray( UTBar1, UTValue1, UTBar2,UTValue2, 0 );
    Plot( UpTrendLine , _DEFAULT_NAME(), colorGreen,styleLine | styleNoTitle | styleNoLabel);
    Plot( UTLine , _DEFAULT_NAME(), colorGreen,styleLine | styleNoTitle | styleNoLabel);

_SECTION_END();


_SECTION_BEGIN("Down Trend Line");

    DTValue1=LastValue(Peak(H,0.5 ,2));
    DTValue2=LastValue(Peak(H,0.5 ,1));
    DTBar1=BarCount - 1 - LastValue(PeakBars(H,0.5 ,2));    
    DTBar2=BarCount - 1 - LastValue(PeakBars(H,0.5 ,1)); 
    DownTrendLine = LineArray( DTBar1, DTValue1, DTBar2,DTValue2, 1 );
    DTLine = LineArray( DTBar1, DTValue1, DTBar2,DTValue2, 0 );

    Plot( DownTrendLine ,_DEFAULT_NAME(), colorRed,styleLine | styleNoTitle | styleNoLabel);
    Plot( DTLine ,_DEFAULT_NAME(), colorRed,styleLine | styleNoTitle | styleNoLabel);
   
    PlotText("PV = " + WriteVal(DTValue2 ,fraction), LastValue(BarIndex())+2, (DTValue2 ), colorRed);
    PlotText("TV = " + WriteVal(UTValue2,fraction), LastValue(BarIndex())+2, UTValue2, colorGreen);
    PlotOHLC( UpTrendLine , UpTrendLine , DownTrendLine , DownTrendLine , "", colorYellow, styleCloud | styleNoRescale);
   
    Plot(LineArray( DTBar2, DTValue2, BarCount,DTValue2, 0 ),"",colorRed);
    Plot(LineArray( UTBar2, UTValue2, BarCount,UTValue2, 0 ),"",colorGreen);

_SECTION_END();

_SECTION_BEGIN("Pivot");

    YH = TimeFrameGetPrice("H", inDaily, -1);        // yesterdays high
    YL = TimeFrameGetPrice("L", inDaily, -1);        //                low
    YC = TimeFrameGetPrice("C", inDaily, -1);        //                close
    TO = TimeFrameGetPrice("O", inDaily);            // current day open

    //Normal Pivot
    PP = (YH + YL + YC) / 3;
    R1 = (2 * PP) - YL;
    R2 = PP + (YH - YL);
    R3 = YH + 2*(PP-YL);
    S1 = (2 * PP) - YH;
    S2 = PP - (YH - YL);
    S3 = YL - 2*(YH - PP) ;
   
_SECTION_END();

_SECTION_BEGIN("Title");

Title = EncodeColor(colorBlack)+ Date() + "   Close = " + EncodeColor(colorRed) +Close +
        EncodeColor(colorBlack) + "     Open = " + EncodeColor(colorBlack) + O +
        EncodeColor(colorBlack) + "     High = " + EncodeColor(5) + H +
        EncodeColor(colorBlack) + "      Low = " + EncodeColor(colorRed) + L +
        EncodeColor(colorBlack) + "     Volume = " + EncodeColor(colorOrange) + V + "\n\n"+
        EncodeColor(colorBlack) + "Pivot Point= " + EncodeColor(colorBlack) + PP +
        EncodeColor(colorBlack) + "     Day's Open= " + EncodeColor(colorBlack) + TO +"\n\n"+
        EncodeColor(colorGreen) + "If days open is greater than Pivot Point, market is in uptrend and \n"+EncodeColor(colorRed)+"if days Open is less than Pivot Point, market is in downtrend" +"\n\n"+
        EncodeColor(colorRed) + "R1= " + EncodeColor(colorBlack) + R1 +
        EncodeColor(colorRed) + "  R2= " + EncodeColor(colorBlack) + R2 +
        EncodeColor(colorRed) + "  R3= " + EncodeColor(colorBlack) + R3 +"\n"+
        EncodeColor(colorGreen) + "S1= " + EncodeColor(colorBlack) + S1 +
        EncodeColor(colorGreen) + "  S2= " + EncodeColor(colorBlack) + S2 +
        EncodeColor(colorGreen) + "  S3= " + EncodeColor(colorBlack) + S3 +"\n"+
        EncodeColor( colorBlack) +"____  _____  _______  _______  _______"+"\n";

_SECTION_END();

_SECTION_BEGIN("Target");

    CBuy = Cross(C,DownTrendLine);
    CSell = Cross(UpTrendLine ,C);

    baratbuy = ValueWhen(CBuy ,BarIndex()) ;
    baratsell = ValueWhen(CSell ,BarIndex()) ;

    PlotShapes(shapeUpTriangle* CBuy ,colorBlue,O,L);
    PlotShapes(shapeDownTriangle * CSell ,colorRed,O,H);


_SECTION_END();


_SECTION_BEGIN("Magnified Market Price");
FS=Param("Font Size",30,30,100,1);
GfxSelectFont("Arial", FS, 700, italic = False, underline = False, True );
GfxSetBkMode( colorBlack );
GfxSetTextColor( ParamColor("Color",colorYellow) );
Hor=Param("Horizontal Position",750,800,800,800);
Ver=Param("Vertical Position",27,27,27,27);
GfxTextOut(""+C,Hor , Ver );
YC=TimeFrameGetPrice("C",inDaily,-1);
DD=Prec(C-YC,2);
xx=Prec((DD/YC)*100,2);
GfxSelectFont("Arial", 12, 700, italic = False, underline = False, True );
GfxSetBkMode( colorBlack );
GfxSetTextColor(ParamColor("Color",colorYellow) );
GfxTextOut(""+DD+" ("+xx+"%)", Hor+5, Ver+45 );
_SECTION_END();