Indicator ASO (Average Sentiment Oscillator) displays the general market climate.
It has four configurable parameters:
- Range period - range calculation period;
- Smoothing period - oscillator smoothing period;
- Method - smoothing method;
- Mode - calculation mode:
- Combined - combined mode;
- Intra-bar - intra-bar mode;
- Group algorithm - group algorithm mode.
Calculations:
Bulls = MA(BL, Smoothing period, Method) Bears = MA(BR, Smoothing period, Method)
where:
Combined Mode:
BL = (IBL+GBL)/2 BR = (IBR+GBR)/2
Intra-bar Mode:
BL = IBL BR = IBR
Group Algorithm Mode:
BL = GBL BR = GBR IBL = 50 * (Close - Low + High - Open)/(High - Low) IBR = 50 * (High - Close + Open - Low)/(High - Low) GBL = 50*(Close - GL + GH - GO)/(GH - GL) GBR = 50*(GH - Close + GO - GL)/(GH - GL)
- GO - Open within Range period;
- GL -minimum value of High within Range period;
- GH - maximum value of Low within Range period.
Fig 1. Combined Mode
Fig. 2. Intra-bar Mode
Fig. 2. Group Algorithm Mode
