I tried with PowerScan, which is a graphical interface to develop AFL without writing a single line of code. It requires AmiBroker 4.24 or higher to be installed. Here are my observations:
  • Very simple interface to develop 'simple' AFL's. It will be useful for only begineers, as it seems it doesn't support programming related stuff like control statements, etc.
  • Using the trial version, only minimal operations are possible. The conditional operations are not possible in trial version, like close > 100 AND volume > 100000. You need to buy, if you need to use its full functionality.
  • Although the trial version doesn't allow some operations, they can be done manually by copy-and-paste. ie for eg. we can create close>100, followed by volume>100000 separately and copy those codes into one formula.
  • If you look at the interface, you can see that its very simple. [Sample screenshot attached: It shows how the implementation of EMA crossover of 3 and 13 periods on Close price, look like.]
  • As a whole, it can be useful for begineers new to programming concept, to develop some simple AFL's. Once we learn the basics of AFL's, we can code using Formula Editor itself.