Pros of Supply Demand Zone Charting: Works is a good indicator while identifying supply demand zones. Supply Demand Zone AFL automatically generates demand and supply zone based on historical data of a particular stock symbol. Traders can use demand and supply zones to determine whether the price is low enough to buy a stock or high enough to sell it. Pros of Harmonic Pattern: Beneficial to identify highly probable stock reversal points for entry and exit.Ĭons of Harmonic Pattern Dynamic Levels: There are too many patterns, and they may give contradicting signals. Harmonic Pattern AFL automatically identifies some of the most popular harmonic patterns like Gartley, Bat, Butterfly Crab, etc.
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Recognition of harmonic patterns takes a lot of time, even for professional traders. Based on historical data, many chart analysts also use harmonic patterns to identify buying and selling opportunities or probable stock reversal for multiple stocks. Swing trading is prevalent among day traders. It helps to determine to stop loss for F&O tradingĬons of Auto MACD Buy Sell Signal: Doesn’t consider the trend or strength of a stock.Identifies correct prices for entry points.Auto MACD Buy Signal AFL automatically determines the intersection point and generates a buy signal in just one click. Identifying buying and selling points for various stocks manually takes a lot of time. It generates buying and selling signals based on the intersection of two moving averages, a fast-moving EMA against a differential EMA. MACD line is one of the most used indicators by traders while determining buying and selling points. Pros of Bollinger Fibonacci Band AFL: It can be used for longs and shorts to identify an overbought and oversold opportunity.Ĭons of Bollinger Fibonacci Band AFL: Since there are no considerations for volume or trading pattern, traders can’t verify a trade with this. It makes it easier for traders to determine whether the price is beyond or below extreme points. In technical analysis, Bollinger bands have become a popular tool for determining a stock’s overbought and oversold opportunities.īollinger Fibonacci Bands AFL automatically determines the breakout levels based on stock volatility. Pros of Support Resistance AFL: It helps determine the right entry price, stop loss and exit point based on the history of the stock.Ĭons of Support Resistance AFL: Could Determine the entry and exit points, but traders can’t confirm trade on support or resistance price. Many traders fail to determine the correct entry and exit points prices, resulting in a loss.Īuto Support Resistance AFL automatically determines moveable price points as per trends and historical data, which can be used to identify entry/exit points for both longs and shorts with just one click. Should be confirmed by other Indicators and signalsįinding support and resistance is the most challenging task in technical analysis.Can’t determine entry, exit, and stop-loss points.Helps in predicting reversal of a trend.Extremely useful for identifying trending stocks.Therefore, they are not exclusive.Īlthough finding a specific candlestick pattern for a single stock is not challenging, finding a recognizable candlestick pattern for several stocks is cumbersome.Ĭandlestick Pattern Recognizer AFL is coded to quickly identify multiple stocks’ bullish or bearish trends by identifying a recognized candlestick pattern among 35 patterns with just a click. Note: The list doesn’t represent the rank of the AFL. Here is the list of the best AmiBroker Formula Language used by traders. Top 10 AmiBroker AFL for Successful Trading With AFL, you can quickly write a few lines for like excel formula as per your requirement and use the same formula across all the stocks you want to analyze to find the right stocks to invest in. You must manually do this for every stock you can think of.
Of course, you can do this manually by adding charts and determining buying and selling points yourself, which could be beneficial but takes too long. How can you identify the stock that tends all these? For example, if you like a particular candlestick to go long, you need to make sure the trade volume is high, the price is within Bollinger bands, and the MACD line favors your trade.
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