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:
- Period - ASO calculation period
- Smoothing - ASO smoothing period
- Mode - ASO calculation mode
- RSI
- Stochastic
- Method - ASO calculation method
- Applied price - ASO calculation price
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 priceMin, 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
