AllAbsoluteStrength

Hi All,

Please take a look at the advanced AllAbsoluteStrength_v2 indicator which uses AllAverage_v3.1.
This indicator can be considered as an alternative to the well known RSI, Stochastic and DMI, as far as their methods of calculation based on Buyers and Sellers strengths. Despite of the enumerated indicators, the calculation is performed in points, not in a percentage. It gives a possibility to appreciate finer-grained market strengths and avoid such sufficient disadvantages as "stuck" in the strong trend for Stochastic.

In the given version of the indicator there is a possibility to build levels of Strength (Strength Level) and Weakness (Weakness Level) using three ways:

• OverBought/OverSold levels (OverBought/OverSold),as in the RSI and Stochastic, regulated by StrengthLevel and WeaknessLevel parameters (for example, 80 and 20).
• The channel of the standard deviations regulated by LookBackPeriod parameters and coefficients for the upper (UpperMultiplier) and lower (LowerMultiplier) bound of the channel.
• High/Low Channel drawn on the principle of the price channel is regulated by the LookBackPeriod, StrengthLevel and WeaknessLevel parameters.

Regards,
Igor



UPDATES:

2013.04.22 - version v2.1: 1 minor bug fixed.

Important: Please download fixed version v2.1.

sir newdigital
what is this indicator below?

This is Trend indicator (almost same with iTrend but with different visualization). Indicator is attached to this post.

thank you sir

Thanks Igorad for advanced version of AbsoluteStrength
Would it be possible for you to mod. this indicator so it draws(dot or arrow) on chart according to their strength ?

Originally Posted by secretcode

Thanks Igorad for advanced version of AbsoluteStrength
Would it be possible for you to mod. this indicator so it draws(dot or arrow) on chart according to their strength ?

Hi secretcode,

Please explain more concretely what you want to see on the chart because there could be a lot of combinations to draw arrows.

Regards,
Igor

Originally Posted by igorad

Hi secretcode,

Please explain more concretely what you want to see on the chart because there could be a lot of combinations to draw arrows.

Regards,
Igor

Thanks Igor for consideration
Please see the picture what i have in my mind for signals (Arrows) !
Vertical lines in sub window are just for consideration (not part of indicator) when to draws signals on chart window but please improve it as per your experience if possible

Best Regards,
secretcode

Originally Posted by igorad

Hi All,

Please take a look at the advanced AllAbsoluteStrength_v2 indicator which uses AllAverage_v3.1.
This indicator can be considered as an alternative to the well known RSI, Stochastic and DMI, as far as their methods of calculation based on Buyers and Sellers strengths. Despite of the enumerated indicators, the calculation is performed in points, not in a percentage. It gives a possibility to appreciate finer-grained market strengths and avoid such sufficient disadvantages as "stuck" in the strong trend for Stochastic.

In the given version of the indicator there is a possibility to build levels of Strength (Strength Level) and Weakness (Weakness Level) using three ways:

• OverBought/OverSold levels (OverBought/OverSold),as in the RSI and Stochastic, regulated by StrengthLevel and WeaknessLevel parameters (for example, 80 and 20).
• The channel of the standard deviations regulated by LookBackPeriod parameters and coefficients for the upper (UpperMultiplier) and lower (LowerMultiplier) bound of the channel.
• High/Low Channel drawn on the principle of the price channel is regulated by the LookBackPeriod, StrengthLevel and WeaknessLevel parameters.

Regards,
Igor



UPDATES:

2013.04.22 - version v2.1: 1 minor bug fixed.

thanks fore share it but i don't know about this indicator pls tell me is it repainted????

Originally Posted by lion of gail

thanks fore share it but i don't know about this indicator pls tell me is it repainted????

No, it does not repaint. AllAbsoluteStrength is famous indicator and I am using it to estimate the market condition in the morning for example.