Absolute Strength Histogram trend-following indicator.

The indicator displays the difference between bulls and bear power of the Absolute Strength Oscillator (ASO) indicator as a histogram

There are five inputs:

  • Period - ASO calculation period

  • Smoothing - ASO smoothing period

  • Mode - ASO calculation mode

  • RSI

  • Stochastic

  • Method - ASO calculation method

  • Applied price - ASO calculation price

Calculation:

ASH = BullsStrength - BearsStrength

where:

BullsStrength = MA(AvgBulls, Smoothing, Method)
BearsStrength = MA(AvgBears, Smoothing, Method)

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. ASH mode of RSI

Fig. 2. ASH mode of Stochastic

Fig. 3. ASH + ASO