Price Breakout Detection Exploration for Amibroker (AFL)

This is a very good formula developed by Rasheed to show horizontal support and resistance lines to detect price breakouts. The formula was then modified by NWTrader to add exploration for breakouts. I also made some minor modifications to the code to make it look better.

Here is a screenshot of how the indicator looks:

Bullish Breakout

AFL: Price Breakout Detection (to download afl click here) (download this afl file, unzip and paste it in custom folder under Formals in AmiBroker)

Posted in: Popular AFL