Page 1 of 3
Absolute Strength Indicator
Posted:
Mon Dec 20, 2010 6:53 am
by Apprentice
Bar Version
Tick Version
- AS.lua
- (8.65 KiB) Downloaded 1763 times
MT4/MQ4 version.
viewtopic.php?f=38&t=69191
Re: Absolute Strength Indicator
Posted:
Mon Dec 20, 2010 4:30 pm
by deltayod
Thank You Apprentice for coding this indicator. You did it promptly and with an excellent result.
Humbly, I'd like to share what I've learned over time about the use of this indicator.
The Absolute Strength Indicator is an excellent tool to determine:
1.- Market Trend as well as the strength of the trend.
The Main Signal occurs when the Solid lines cross each other. Bulls over Bears signals long entries and vice versa. I consider this the most conservative entry point.
2.- Market Correction (Retracement and/or Reversal)
Correctional entry signals are my favorite. They occur when a Solid line crosses over it's corresponding Dotted line but before the main signal crossover (see picture attached)
3.- Market Consolidation (Moving sideways).
Another important aspect is the flatness of the market displayed by the lack of dominance of either bears or bulls. This occurs when both solids are under their corresponding dotted lines regardless of overall market sentiment (i.e., Bears over Bulls). When neither of the solid lines is over its corresponding dotted line, consolidation is taking place. It is too risky to trade and perhaps best to wait for either Correctional or Main signal.
Seek for the PIPS and you shall find them.
Regards,
Delta Yod
P.S. I have used successfully the following settings:
Method: RSI
Method: EMA
Period for Evaluation: 7 (10 or 14 work well too)
Period for Signal: 4
Period for Smoothing: 4
Overbought/Oversold: 0
Re: Absolute Strength Indicator
Posted:
Mon Jan 03, 2011 12:28 pm
by MrPips
Could you please code this indicator as a MTF indicator.
Thank you.
Re: Absolute Strength Indicator
Posted:
Tue Jan 04, 2011 3:38 am
by Blackcat2
Hi deltayod,
Thanks for the post regarding on how to use the indicator. Looking at the picture that you attached, can I ask why you didn't take the trade when there are occasions where the solid red crosses over the green solid?
Are there extra rules or indicators that you use?
Thanks..
Re: Absolute Strength Indicator
Posted:
Tue Jan 04, 2011 5:35 am
by Apprentice
Re: Absolute Strength Indicator
Posted:
Tue Jan 04, 2011 9:57 am
by sho-me-pips
A signal and later a strategy for the cross would be a great addition to this indicator.
Re: Absolute Strength Indicator
Posted:
Tue Jan 04, 2011 10:20 am
by Apprentice
Added to developmental cue.
Re: Absolute Strength Indicator
Posted:
Wed Apr 06, 2011 2:36 am
by Apprentice
Required can be found here.
viewtopic.php?f=31&t=3848If you need a more complex strategy, I asked you to define the rules, if they differ.
Re: BF Absolute Strength Indicator
Posted:
Sat Sep 24, 2011 5:01 pm
by Giantball
can I request for the calculation of the Bulls. Signalbulls, Bears and SignalBears be one more decimal place over? ie instead of bulls being 1 right now, can it be 1.1, 1.2, 1.3 etc.
Thanks,
G
Thank you in advance for helping us small guys out!
Re: Absolute Strength Indicator
Posted:
Sun Sep 25, 2011 2:18 pm
by Apprentice
I'll add this option.