Market related News expressed from leading Brokerage Houses

 I give below a summarized view of leading broking houses. To begin with Gold prices are expected to see $1230 (INR.26800) and selling can be expected at this point. Prices on down side can test $1210 (INR.26500)these price can form a range in which the gold could remain. Price mentioned here is the support and resistance levels. The overall sentiment remains negative  for Gold..

 November Copper prices will see support at Rs.414.50 The price of Copper is likely to move sideways to higher towards Rs.418.0. If buying interest continues further upside is possible. Otherwise price will again come down. On lower side Copper has  support at Rs.412.0

 Crude oil prices have strong support at Rs.5525 and as far as prices are holding this support, prices can trade sideways to higher and fresh upswing  can be seen if it goes above Rs.5650. For intraday traders prices can have intraday resistance at Rs.5590. A break down below Rs.5525 can extend towards Rs.4450 in coming days.

 SPOT USDINR prices are expected to open higher above 60.90 and prices are expected to have support at 60.90 where buying should be observed Prices on higher side can test 61.10. Prices are unlikely to fall below 60.80 The overall trading remains positive.

According to Agriculture Ministers statement Kharif food grain output is expected to fall by 7 per cent to 120.27 million tons (mt) this year. This if confirmed, the biggest drop since the severe drought some five years ago. An extended dry spell in the first six weeks of monsoon season, with subsequent floods in some places, has damaged crops. However, analysts said an adequate grain stock would keep the inflationary price trend at bay. Agriculture minister Radha Mohan Singh also said the estimate may be revised upwards later. “Planting of crops is as per average of last five years, and is now 3% lower than previous year. We estimate Kharif production to be approximately 120 mt," Singh said. "This is not final data, though. Production figures always increase by the fourth estimate," he said. In 2013-14, the country's Kharif output rose to a record 129.24 mt. Singh said he expected the Rabi (winter crop) production to increase with un sown Kharif area of over three million hectare to go under oilseeds this season. Rice production is estimated to fall to 88.02 mt, from 91.69 mt in the previous year, although the crop was planted on 36.67 million hectares, about the same as 36.79 million hectares a year ago.  Agriculture secretary Ashish Bahuguna said the delayed onset of monsoon led to late sowing of plants and was bound to have an impact on the crops productivity. The dry spell along with floods in several parts of the country has also impacted productivity, he added.

The Foundation AFL for Amibroker

 The Foundation by Southwind

 Today I am posting an AFL which looks colorful and interesting. I am not the creator of this AFL. This is known as The Foundation AFL by a Bangladeshi coder with a nick name of SouthWind. The SouthWind as the coder calls himself has attempted to incorporate many indicators into one AFL.

Heiken Ashi type of candles have been used instead of the normal candlestick charts. Weekly, Short term, Medium term and Long term trends have been included.

Besides the general market trend all major indicators like RSI, MACD Stochastic, T3 have been covered. Volume, price spread is indicated. Support and resistance lines are drawn on the charts. Many other features can be enabled with the help of properties window.I have removed or disabled many features as they were more confusing than informative.

This AFL can be used for general study purpose, but for deep observation we need to be more focused on individual index charts.However this work of The Southwind must be appreciated for the effort put together.

The most important thing about this AFL is that the requirement of two other files needed to run the code in Amibroker. They are T3_include.afl and JurikLib.dll and kpami.dll. The T3_include afl must be copied and pasted in the folder Include. The other two plug in dll files must be copied and pasted into Plugins folder under Amibroker. I have uploaded the files in my 4shared folder for which I have included the links. For the AFL to run properly the correct placement of these files are important. 

Once these copy past job is done the Foundation AFL for Amibroker is ready for charting. The code it self is too large to be posted here. I therefore have uploaded in my 4shared folder. Kindly download the same from links given here.

T3_Include  - in include folder

 kpami.dll     in plugin folder

JurikLib.dll  in plugin folder

The_Foundation Afl in custom formula folder

Best of Luck

Amibroker AFL for Identifying Candlestick chart patterns

Candlestick pattern Identification

Candlestick patterns invented by the early Japanese rice traders are becoming more and more popular among technical analysts. The art of identifying a chart pattern is something every share trader must learn. Candlestick chart reading can be like Greek for beginners because of the peculiar terms involved in interpreting the patterns. But with little involvement, the interpretation of candlestick charts can be very interesting. 

I am posting another AFL today. This AFL will identify the candlestick patterns in a chart and print it on the screen. This afl covers all major candlestick patterns. Each pattern has been allocated a number for easy identification. I have listed the allocated number to each pattern below. Wherever the mouse is clicked and a pattern is selected the name of the pattern is displayed at the top left corner of the chart window.

NearDoji  -1, BlackCandle – 2LongBlackCandle -3SmallBlackCandle  -4/ WhiteCandle  -5, LongWhiteCandle - 6 SmallWhiteCandle - 7 BlackMaubozu – 8 WhiteMaubozu – 9, BlackClosingMarubozu - 10, WhiteClosingMarubozu - 11, BlackOpeningMarubozu - 12, WhiteOpeningMarubozu  - 13, HangingMan - 14, Hammer - 15, InvertedHammer - 16, ShootingStar – 17, BlackSpinningTop -18, WhiteSpinningTop - 19, BearishAbandonedBaby - 20, DarkCloudCover - 21, BearishEngulfing - 22, ThreeOutsideDownPattern – 23, BullishAbandonedBaby - 24,BullishMorningDojiStar - 25BullishEngulfing - 26, ThreeOutsideUpPattern - 27BullishHarami – 28ThreeInsideUpPattern - 29/PiercingLine - 30, BearishHarami - 31, ThreeInsideDownPattern - 32,ThreeWhiteSoldiers -33, DarkCloudCover - 34,  ThreeBlackCrows  -35, doji - 36, GapUp - 37, GapDown - 38, BigGapUp - 39, BigGapDown - 40, HugeGapUp - 41HugeGapDown - 42, DoubleGapUp - 43, DoubleGapDown - 44 

I hope this afl will be of some help to beginners who would like to learn the technical aspects of a candlestick pattern chart.

Amibroker AFL for MACD and ADX based trading

MACD  and ADX based trading system

I have posted a colorful AFL. This AFL is a combined system both MACD and ADX indicators. In any market finding the trend is the most important priority. To a greater extend the ADX can help in detecting the trend of stock. One thing to note about ADX is that it does not take the sideways movement of the stock. The MACD on the other hand is based upon moving averages and works differently

This AFLdisplays the MACD with histogram and the ADX is plotted in a ribbon style without interfering one an other. 

Amibroker AFL for Fibonacci Retracement Levels

Fibonacci Retracement is an indicator that was developed by Leonardo Fibonacci an Italian mathematician who lived from 1170 - 1250. He made some interesting discoveries during his time. He found out the belly button is a retracement of 61.8% from the measurement head and feet. The elbow is a retracement of 61% of total measurement of arm. The Fibonacci numbers or Fibonacci sequence are widely observed in nature line number of branches and leaves in a tree, distribution of petals in flowers and seeds. 

The Fibonacci sequence is a set of numbers that starts with a one or a zero. The proceeding number is equal to the sum of the preceding two numbers.

Example : 0, 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89…

In share markets, the term Fibonacci retracement is widely used when it comes to charting. It has been observed  that the  movement of price has some resemblance with Fibonacci sequence. In share market charts, whenever there is a correction or pull back the retracement levels of 38.2%, 61.8%, 78.6%  are seen as possible levels. The 50% retracement level also has some special relevance.  For example if the trend is up the price may correct to find the 38.2% or 50% levels and then revert back to the original uptrend. The same can be said in a downtrend market too. Therefore trading opportunities can be found if these levels are properly utilized. 

Today I am posting an AFL indicator that will react anywhere it is clicked. It can show the Fibonacci levels at any given point. This is particularly useful for students of technical analysis study purpose. This is not very complicated. The chart displayed is the Nifty’s course last week.

/////////////////////////////////////The Code is posted below///////////////////////////////////

_SECTION_BEGIN("Background");
    SetChartOptions(0,chartShowArrows|chartShowDates);
    SetChartBkColor(ParamColor("Outer panel",colorBlack)); // color of outer border
    SetChartBkGradientFill( ParamColor("Inner panel
upper",colorBlack),ParamColor("Inner panel lower",colorBlack));
    tchoice=Param("Title Selection ",2,1,2,1);

Plot(C, "", IIf(O>=C, colorOrange, colorGreen), ParamStyle("Price
Style",styleBar,maskPrice));

_SECTION_BEGIN("Fib Retracements");
    fibs = ParamToggle("Plot Fibs","Off|On",1);
    pctH = Param ("Pivot Hi %", 0.325,0.001,2.0,0.002);
    HiLB = Param ("Hi LookBack",1,1,BarCount-1,1);
    pctL = Param ("Pivot Lo %", 0.325,0.001,2.0,0.002);
    LoLB = Param ("Lo LookBack",1,1,BarCount-1,1);
    Back = Param ("Extend Left = 2",1,1,500,1);
    Fwd  = Param("Plot Forward", 0, 0, 500, 1);
    text = ParamToggle("Plot Text","Off|On",1);
    hts  = Param ("Text Shift", -33.5,-50,50,0.10);
    style =ParamStyle("Line Style",styleLine,styleNoLabel);
x = BarIndex();
pRp  = PeakBars( H, pctH, 1) == 0;
yRp0 = SelectedValue(ValueWhen( pRp, H, HiLB));
xRp0 = SelectedValue(ValueWhen( pRp, x, HiLB));
pSp  = TroughBars( L, pctL, 1) == 0;
ySp0 = SelectedValue(ValueWhen( pSp, L, LoLB));
xSp0 = SelectedValue(ValueWhen( pSp, x, LoLB));
Delta = yRp0 - ySp0;

function fib(ret)
{
retval = (Delta * ret);
Fibval = IIf(ret < 1.0
AND xSp0 < xRp0, yRp0 - retval, IIf(ret < 1.0
AND xSp0 > xRp0, ySp0 + retval,IIf(ret > 1.0
AND xSp0 < xRp0, yRp0 - retval, IIf(ret > 1.0
AND xSp0 > xRp0, ySp0 + retval, Null))));
return FibVal;
}

x0 = Min(xSp0,xRp0)-Back;
x1 = (BarCount -1);

r236 = fib(0.236);        r236I = LastValue (r236,1);
r382 = fib(0.382);        r382I = LastValue (r382,1);
r050 = fib(0.50);        r050I = LastValue (r050,1);
r618 = fib(0.618);        r618I = LastValue (r618,1);
r786 = fib(0.786);        r786I = LastValue (r786,1);
e127 = fib(1.27);        e127I = LastValue (e127,1);
e162 = fib(1.62);        e162I = LastValue (e162,1);
e200 = fib(2.00);        e200I = LastValue (e200,1);
e262 = fib(2.62);        e262I = LastValue (e262,1);
e424 = fib(4.24);        e424I = LastValue (e424,1);

p00 = IIf(xSp0 > xRp0,ySp0,yRp0);     p00I = LastValue (p00,1);
p100 = IIf(xSp0 < xRp0,ySp0,yRp0);     p100I = LastValue (p100,1);
color00 =IIf(xSp0 > xRp0,colorLime,colorRed);
color100 =IIf(xSp0 < xRp0,colorLime,colorRed);

numbars = LastValue(Cum(Status("barvisible")));
fraction= IIf(StrRight(Name(),3) == "", 3.2, 3.2);

if(fibs==1)
{
Plot(LineArray(xRp0-Fwd,yRp0,x1,yRp0,Back),"PR",32,8|styleNoRescale,Null,Null,Fwd);
Plot(LineArray(xSp0-Fwd,ySp0,x1,ySp0,Back),"PS",27,8|styleNoRescale,Null,Null,Fwd);
Plot(LineArray(x0-Fwd,r236,x1,r236,Back),"",45,style|styleNoRescale,Null,Null,Fwd);
Plot(LineArray(x0-Fwd,r382,x1,r382,Back),"",44,style|styleNoRescale,Null,Null,Fwd);
Plot(LineArray(x0-Fwd,r050,x1,r050,Back),"",41,style|styleNoRescale,Null,Null,Fwd);
Plot(LineArray(x0-Fwd,r618,x1,r618,Back),"",43,style|styleNoRescale,Null,Null,Fwd);
Plot(LineArray(x0-Fwd,r786,x1,r786,Back),"",42,style|styleNoRescale,Null,Null,Fwd);
Plot(LineArray(x0-Fwd,e127,x1,e127,Back),"e127",47,style|styleNoRescale,Null,Null,Fwd);
Plot(LineArray(x0-Fwd,e162,x1,e162,Back),"e162",47,style|styleNoRescale,Null,Null,Fwd);
Plot(LineArray(x0-Fwd,e200,x1,e200,Back),"p200",47,style|styleNoRescale,Null,Null,Fwd);
Plot(LineArray(x0-Fwd,e262,x1,e262,Back),"p262",47,style|styleNoRescale,Null,Null,Fwd);
Plot(LineArray(x0-Fwd,e424,x1,e424,Back),"p424",25,style|styleNoRescale,Null,Null,Fwd);
}
if(text==1)
{
PlotText(" 0% = " + WriteVal(p00,fraction),
    LastValue(BarIndex())-(numbars/hts), p00I  + 0.05, color00);
PlotText("23% = " + WriteVal(r236,fraction),
LastValue(BarIndex())-(numbars/hts), r236I + 0.05, 45);
PlotText("38% = " + WriteVal(r382,fraction),
LastValue(BarIndex())-(numbars/hts), r382I + 0.05, 44);
PlotText("50% = " + WriteVal(r050,fraction),
LastValue(BarIndex())-(numbars/hts), r050I + 0.05, 41);
PlotText("62% = " + WriteVal(r618,fraction),
LastValue(BarIndex())-(numbars/hts), r618I + 0.05, 43);
PlotText("78% = " + WriteVal(r786,fraction),
LastValue(BarIndex())-(numbars/hts), r786I + 0.05, 42);
PlotText("100% = " + WriteVal(p100,fraction),
LastValue(BarIndex())-(numbars/hts),p100I + 0.05, color100);
PlotText("127% = " + WriteVal(e127,fraction),
LastValue(BarIndex())-(numbars/hts),e127I + 0.05, 47);
PlotText("162% = " + WriteVal(e162,fraction),
LastValue(BarIndex())-(numbars/hts),e162I + 0.05, 47);
PlotText("200% = " + WriteVal(e200,fraction),
LastValue(BarIndex())-(numbars/hts),e200I + 0.05, 47);
PlotText("262% = " + WriteVal(e262,fraction),
LastValue(BarIndex())-(numbars/hts),e262I + 0.05, 47);
PlotText("424% = " + WriteVal(e424,fraction),
LastValue(BarIndex())-(numbars/hts),e424I + 0.05, 25);
}
_SECTION_END();

if (tchoice==1 )
{
_N(Title = EncodeColor(colorWhite)+StrFormat(" {{NAME}} -   {{INTERVAL}}   
{{Date}}    Open:  %g,    High:  %g,     Low:  %g,     Close:  %g  
{{VALUES}}",O, H, L, C, SelectedValue( ROC( C, 1   ) ) ));
}

if (tchoice==2 )
{
Title = EncodeColor(colorWhite)+  Date() + "   Tick = " + EncodeColor(5) +Interval()+
EncodeColor(colorWhite) + "     Open = " + EncodeColor(colorWhite) + O +
EncodeColor(colorWhite) + "     High = " + EncodeColor(5) + H +
EncodeColor(colorWhite) + "      Low = " + EncodeColor(colorRed) + L +
EncodeColor(colorWhite) + "     Close = " + EncodeColor(colorWhite) + C + "\n"+
EncodeColor( colorWhite) +"_______________"+"\n"+
EncodeColor( colorWhite)  + "424%   =  "    +     EncodeColor(25)+ e424 + " " +"\n"+
EncodeColor( colorWhite)  + "262%   =  "    +     EncodeColor(47)+ e262 + " " +"\n"+
EncodeColor( colorWhite)  + "200%   =  "    +     EncodeColor(47)+ e200 + " " +"\n"+
EncodeColor( colorWhite)  + "162%   =  "    +     EncodeColor(47)+ e162 + " " +"\n"+
EncodeColor( colorWhite)  + "127%   =  "    +     EncodeColor(47)+ e127 + " " +"\n"+
EncodeColor( colorYellow) + "  Res    =  "    +     EncodeColor(32)+ p100 + " "+"\n"+
EncodeColor( colorWhite)  + "  78%   =  "    +    EncodeColor(42)+ r786 + " " +"\n"+
EncodeColor( colorWhite)  + "  62%   =  "    +     EncodeColor(43)+ r618 + " "+"\n"+
EncodeColor( colorWhite)  + "  50%   =  "    +     EncodeColor(41)+ r050 + " "+"\n"+
EncodeColor( colorWhite)  + "  38%   =  "    +     EncodeColor(44)+ r382 + " "+"\n"+
EncodeColor( colorWhite)  + "  23%   =  "    +     EncodeColor(45)+ r236+ " " +"\n"+
EncodeColor( colorYellow) + "  Sup   =   "    +     EncodeColor(34)+ p00 + " " ;}
GraphXSpace=5;

///////////////////////////////// End of code/////////////////

Best of luck