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ASH.mq5 (18.81 KB) view

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Absolute Strength Histogram trend-following indicator.

The indicator displays the difference between bulls and bear power of the Absolute Strength Oscillator (ASO) indicator as a histogram

There are five inputs:

Calculation:

ASH = BullsStrength - BearsStrength

where:

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

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. ASH mode of RSI

Fig. 2. ASH mode of Stochastic

Fig. 3. ASH + ASO

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/21429

ASO

Absolute Strength Oscillator (ASO) indicator

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ALWMA moving average

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Candle amplitude indicator

ASH - indicator for MetaTrader 5