Absolute Strength Oscillator trend-following indicator. Based on the forces of bulls and bears, the indicator displays the current market trend.
There are five inputs:
- Period – calculation period
- Smoothing – smoothing period
- Mode – calculation mode
- RSI
- Stochastic
- Method – calculation method
- Applied price
Calculation:
BullsStrength = MA(AvgBulls, Smoothing, Method) BearsStrength = MA(AvgBears, Smoothing, Method)
where:
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. ASO mode of RSI
Fig. 2. ASO mode of Stochastic
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