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Indicators: AbsoluteStrengthMarket

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Automated-Trading
153091
Automated-Trading  

AbsoluteStrengthMarket:

A tape indicator which defines the market state using the AbsoluteStrength indicator

Author: Igor Durkin

Sergey Golubev
Moderator
114691
Sergey Golubev  

Discussion about this indicator (and about market condition in general) is on this thread Market Condition Evaluation based on standard indicators in Metatrader 5

Just for information 

Sergey Golubev
Moderator
114691
Sergey Golubev  

Forum

Gold is Reaching at 1270

newdigital, 2013.07.01 21:04

How can we know: correction, or bullish etc (in case of using indicator for example)?

well ... let's take AbsoluteStrength indicator from MT5 CodeBase.

bullish (Bull market) :

bearish (Bear market) :

ranging (choppy market - means: buy and sell on the same time) :


flat (sideways market - means: no buy and no sell) :

correction :

correction in a bear market (Bear Market Rally) :



Jox90
1355
Jox90  

This indicator doesn't work on higher timeframes...only on the current.

Michael Eichinger
119
Michael Eichinger  
Do you have an MT4 version of Absolute Stength Market indicator above? It may be what I can add to my EA.  Thanks.
Sergey Golubev
Moderator
114691
Sergey Golubev  

Please find fixed version attached ("iTime - override system function" issue was fixed).


Jox90
1355
Jox90  
Thank you!
Sergey Golubev
Moderator
114691
Sergey Golubev  

It works good with AscTrend indicator - 

AscTrend market Cidition system by Metatrader 5

Chee Chua
745
Chee Chua  

I tried to compile 

AbsoluteStrengthMarket

https://www.mql5.com/en/code/1519


 And got an error with line 498

datetime iTime(string symbol,ENUM_TIMEFRAMES TF,int index)

'iTime' - override system function AbsoluteStrengthMarket.mq5 498 10

AbsoluteStrengthMarket
AbsoluteStrengthMarket
  • www.mql5.com
This indicator with a sufficient accuracy allows defining 6 market states, exactly: Bull market (Bull Market). Bear market (Bear Market). Correction (Correction) in a bull market. Correction in a bear market (Bear Market Rally). Choppy market (Choppy Market). Flat market (Sideways Market). Using Length, PreSmooth, Smooth, Signal and MA_Mode...
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