3rd Prog

// my third AFL program - 5th Oct 2008
// base on trading along the major trend

// buy on breaking EMA resistance
// sell on breaking support or cutloss

// longterm parameters
MAValue = 200; NoiseLevel = 0.12; CutLossLevel = 0.12;

// EMA crossing up and down signals
EMACrossUp = Cross(Close, EMA(Close, MAValue));
EMACrossDown = Cross(EMA(Close, MAvalue), Close);

// using breakout of EMA for buy signal
Buy = EMACrossUp;

// breakdown with noise tolerance to avoid whipsaw
Breakdown = Cross(EMA(Close, MAValue), Close) AND
(abs(ValueWhen(Buy, Close, 1) - Close) > (NoiseLevel * Close));

// cutloss at specific percentage from buy price
Cutloss = Close < ((1 - CutlossLevel) * ValueWhen(Buy, Close, 1));

// using breakdown EMA or cutloss for sell signal
Sell = Breakdown OR Cutloss;