OPEN-SOURCE SCRIPT
Absolute Strength MTF Indicator
Introduction
The non-signal version of the absolute strength indicator from fxcodebase.com/code/viewtopic.php?f=38&t=67282 requested by ernie76 . This indicator originally from mt4 aim to estimate the bullish/bearish force of the market by using various methods.
The Indicator
Two lines are plotted, a bull line (blue) representing the bullish/buying force and a bear one (red) representing the bearish/selling force, when the bull line is greater than the bear line the market is considered to be strongly bullish, else strongly bearish.
The indicator use various method, Rsi, stochastic, adx. The Rsi method is the one by default.
The stochastic method is less reactive but smoother
The Adx method is way different, while the other two methods make the bull and bear lines somewhat uncorrelated, the adx method focus more on the overall market strength than individual buyer/seller strength.
The smoothing method use 3 different filters, SMA, EMA and LSMA, LSMA is more reactive than the two previous one while EMA is just more computer efficient.
It is possible to use price data of different time frames for the calculation of the indicator.
Stochastic method with 4 hour price close as source.
Conclusion
A classic indicator who can be derived into a lot of ways using a more adaptive architecture or recursion. Hope you find it a use :)
A big thanks to ernie76 for the request and the support/testing of the indicator
Feel free to pm me for any request.
The non-signal version of the absolute strength indicator from fxcodebase.com/code/viewtopic.php?f=38&t=67282 requested by ernie76 . This indicator originally from mt4 aim to estimate the bullish/bearish force of the market by using various methods.
The Indicator
Two lines are plotted, a bull line (blue) representing the bullish/buying force and a bear one (red) representing the bearish/selling force, when the bull line is greater than the bear line the market is considered to be strongly bullish, else strongly bearish.
The indicator use various method, Rsi, stochastic, adx. The Rsi method is the one by default.
The stochastic method is less reactive but smoother
The Adx method is way different, while the other two methods make the bull and bear lines somewhat uncorrelated, the adx method focus more on the overall market strength than individual buyer/seller strength.
The smoothing method use 3 different filters, SMA, EMA and LSMA, LSMA is more reactive than the two previous one while EMA is just more computer efficient.
It is possible to use price data of different time frames for the calculation of the indicator.
Stochastic method with 4 hour price close as source.
Conclusion
A classic indicator who can be derived into a lot of ways using a more adaptive architecture or recursion. Hope you find it a use :)
A big thanks to ernie76 for the request and the support/testing of the indicator
Feel free to pm me for any request.
开源脚本
秉承TradingView的精神，该脚本的作者将其开源，以便交易者可以查看和验证其功能。向作者致敬！您可以免费使用该脚本，但请记住，重新发布代码须遵守我们的网站规则。
Check out the indicators we are making at luxalgo: tradingview.com/u/LuxAlgo/
"My heart is so loud that I can't hear the fireworks"
"My heart is so loud that I can't hear the fireworks"
免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。
开源脚本
秉承TradingView的精神，该脚本的作者将其开源，以便交易者可以查看和验证其功能。向作者致敬！您可以免费使用该脚本，但请记住，重新发布代码须遵守我们的网站规则。
Check out the indicators we are making at luxalgo: tradingview.com/u/LuxAlgo/
"My heart is so loud that I can't hear the fireworks"
"My heart is so loud that I can't hear the fireworks"
免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。