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ASO.mq5 (19.14 KB) view

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Absolute Strength Oscillator trend-following indicator. Based on the forces of bulls and bears, the indicator displays the current market trend.

There are five inputs:

Calculation:

BullsStrength = MA(AvgBulls, Smoothing, Method)
BearsStrength = MA(AvgBears, Smoothing, Method)

where:

AvgBulls = MA(Bulls, Period, Method)
AvgBears = MA(Bears, Period, Method)

Bulls = Price - Min
Bears = Max - Price

Price - Applied price
Min, Max - the highest and lowest prices within the Period interval

Fig. 1. ASO mode of RSI

Fig. 2. ASO mode of Stochastic

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/21428

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ASO - indicator for MetaTrader 5