#TITLE
#Absolute Strength Histogram for TOS
#PRC_Absolute Strength | indicator
#DESCRIPTION
#The Absolute Strength indicator indicates the current market “strength”
#in two different ways possible RSI Method and Stochastic Method
#and by separating the bulls and bears into 2 curves.
#
#The results are then averaged with the same “length” as the one used for
#these 2 above methods and smoothed a second time using the “Smooth” variable.
#The moving average mode used is by default the Weighted one.
#CREDITS
#https://www.prorealcode.com/prorealtime-indicators/absolute-strength/
#https://www.prorealcode.com/user/nicolas/
#CHANGELOG
#2019.11.01 @diazlaz Initial Port
declare lower;
#INPUT INDICATOR
input mode = {default RSI, Stoch}; #0-RSI method 1-Stoch method
input length = 9; #length
input smooth = 1; #period of smoothing factor
input modema = {default wma, exp, sma};
input price = close; # price data
#LOGIC
def price1 = price;
def price2 = price[1];
def Bulls;
def Bears;
switch (mode) {
case RSI:
Bulls = 0.5*(AbsValue(Price1-Price2)+(Price1-Price2));
Bears = 0.5*(AbsValue(Price1-Price2)-(Price1-Price2));
case Stoch:
Bulls = price1 - Lowest(low, length);
Bears = Highest(high, length) - price1;
}
def AvgBulls;
def AvgBears;
def SmthBulls;
def SmthBears;
switch (modema) {
case wma:
AvgBulls = WMA(Bulls, length);
AvgBears = WMA(Bears, length);
SmthBulls = WMA(AvgBulls, smooth);
SmthBears = WMA(AvgBears, smooth);
case exp:
AvgBulls = ExpAverage(Bulls, length);
AvgBears = ExpAverage(Bears, length);;
SmthBulls = ExpAverage(AvgBulls, smooth);
SmthBears = ExpAverage(AvgBears, smooth);
case sma:
AvgBulls = Average(Bulls, length);
AvgBears = Average(Bears, length);;
SmthBulls = Average(AvgBulls, smooth);
SmthBears = Average(AvgBears, smooth);
}
#PLOTS
plot pSmthBulls = SmthBulls;
pSmthBulls.AssignValueColor(COLOR.UPTICK);
pSmthBulls.SetPaintingStrategy(PaintingStrategy.HISTOGRAM);
plot pSmthBears = SmthBears;
pSmthBears.AssignValueColor(COLOR.DOWNTICK);
pSmthBears.SetPaintingStrategy(PaintingStrategy.HISTOGRAM);
plot pSmthBullsL = SmthBulls;
pSmthBullsL.AssignValueColor(COLOR.GREEN);
pSmthBullsL.SetLineWeight(2);
plot pSmthBearsL = SmthBears;
pSmthBearsL.AssignValueColor(COLOR.RED);
pSmthBearsL.SetLineWeight(2);
#COLORCANDLES
input showColorBars = yes;
AssignPriceColor(
if !showColorBars then
Color.CURRENT
else
if SmthBulls > SmthBears then COLOR.GREEN
else
COLOR.RED
);