Article/Author: "How To Get In With The Trend And Out At The End", Bryan Strain, S&C Magazine, Traders Tips, 06/2000

Download: Tfs.ela

File Includes:
Strategy - TFS Signal
Indicator - TFS: MBO Indicator
Indicator - Tether Line
Indicator - Vol Osc Avg

Category: Strategy > TFS Signal

Description:

Inputs:

Signal TFS ELA Code:

INPUTS: TETHER(50), OSCAVG(7), MBOFAVG(25), MBOSAVG(200);

VARIABLES: MBO(0), TVAL(0), VOLACCUM(0), VOLOSC(0);



VOLACCUM = 0;



FOR VALUE1 = 0 TO OSCAVG -1 BEGIN

	IF CLOSE[VALUE1] > OPEN[VALUE1] THEN

		VOLACCUM = VOLACCUM + VOLUME[VALUE1];

	IF CLOSE[VALUE1] < OPEN[VALUE1] THEN

		VOLACCUM = VOLACCUM - VOLUME[VALUE1];

END;



TVAL = (HIGHEST(HIGH, TETHER) + LOWEST(LOW, TETHER)) / 2;

MBO = AVERAGE(CLOSE, MBOFAVG) - AVERAGE(CLOSE, MBOSAVG);

VOLOSC = VOLACCUM / OSCAVG;



{ENTRY CONDITIONS}

CONDITION1 = CLOSE CROSSES ABOVE TVAL;

CONDITION2 = VOLOSC > 0;

CONDITION3 = MBO > MBO[1];



IF CONDITION1 AND CONDITION2 AND CONDITION3 THEN

	BUY NEXT BAR AT MARKET;



{TRAILING EXIT}

IF CLOSE CROSSES BELOW TVAL THEN

	EXITLONG NEXT BAR AT MARKET;