AllAbsoluteDifference

Hi all,

Please check out one more tool from the AbsoluteStrength Family - AllAbsoluteDifference_v2. This indicator represents the difference between Bullish and Bearish strengths and looks like an alternative to MACD. But unlike MACD it have overbought/oversold levels as in RSI or Stochastic.

Code:

extern int     TimeFrame         =     0;    // TimeFrame in min
extern int     MathMode          =     0;    // Math method: 0-RSI;1-Stoch;2-DMI;3-MACD 
extern int     Price             =     0;    // Price = 0...10 (see List of Prices)
extern int     Length            =    10;    // Period of evaluation
extern int     PreSmooth         =     1;    // Period of PreSmoothing
extern int     Smooth            =    10;    // Period of smoothing
extern int     Signal            =     3;    // Period of Signal Line
extern int     MA_Method         =     3;    // See list above
extern int     LevelsMode        =     0;    // Levels Mode: 0-Standard OverBought/OverSold 
                                             //              1-StdDev Bands
                                             //              2-High/Low Channel
extern double  OverboughtLevel   =    90;    // Overbougt Level (ex.70)
extern double  OversoldLevel     =    10;    // Oversold Level (ex.30)
extern int     LookBackPeriod    =    30;    // LookBack Period for LevelsMode=1,2 
extern double  UpperMultiplier   =     1;    // Upper Band Multiplier for LevelsMode=1 
extern double  LowerMultiplier   =     1;    // Lower Band Multiplier for LevelsMode=1

Regards,
Igor


UPDATES:

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

I think - it may be good indicator for exit - it is example with Tenkan Kijun Senkou Span B Trading system here:

Important: Please download fixed version v2.1.

Hi igorad.

Could you please add alarms when the "Difference" line cross the zero line (similar to the alarms of "AllAveragesCrossover_v1.1")?

Thanks in advance.

Hi Gus4x,

Please check out the updated AllAbsoluteDifference_v2.2 with advanced sound alerts.

Regards,
Igor

Many thanks.

Hi, ever when I want to set MathMode to 3-MACD, the AllAbsoluteDifference_v2.1 indicator is disappearing, just a empty window (all other is set to default). Any idea?
In the code I see nothing related to MACD.

switch(MathMode)
{
case 0 : math_name = "RSI"; break;
case 1 : math_name = "Stoch"; break;
case 2 : math_name = "DMI"; break;
}

Originally Posted by Gods_Clown

Hi, ever when I want to set MathMode to 3-MACD, the AllAbsoluteDifference_v2.1 indicator is disappearing, just a empty window (all other is set to default). Any idea?
In the code I see nothing related to MACD.

switch(MathMode)
{
case 0 : math_name = "RSI"; break;
case 1 : math_name = "Stoch"; break;
case 2 : math_name = "DMI"; break;
}

Sorry but the MACD mode is absent in this version.

Regards,
Igor

Hi Gods_Clown
Just try this one, perhaps helpful.
Not like the igorad coding style but another interpretation and results are ok.

!000-MACDDIFF.ex4

@Igor: I understand. I was just a little confused, because in the settings it looks like MACD would be possible.

MathMode = 0; // Math method: 0-RSI;1-Stoch;2-DMI;3-MACD

Will You add it to next version?

@levonisyas: thx I will try it.