Composite Index Cloud Style for Amibroker AFL . I have retained the most famous parameters but provided a cloud style for the same and added a buy and sell signal. I have also added an EOD scan of the stocks in the overbought and oversold region.
The red coloured area on top at 100-120 region is overbought and the 0 to -20 is oversold region.It is for traders who trade the divergences.Best time frame is EOD and hourly and short time frame 15min..
I use the composite instead of the regular RSI indicator as it detects and filters the exact spots of divergence better.The cloud style red and blue colour is the horizontal support areas/resistance areas.
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