cI8DH

Stoch Money Flow (ADMF) & Absolute Strength Index (ASI) [cI8DH]

This indicator can apply my previous indicator, Historical and Standard Stochastic , to Money Flow ( ADMF ) or Absolute Strength Index (ASI) or both at the same time. It can also display those two indicators in regular mode as well as showing visual cues when the indicators make new ATH or ATL .

ASI is basically a new name I am giving to my Gain/Loss Moving Average indicator. If you normalize ASI with the moving average of all the changes in price, it becomes identical to RSI . So ASI is basically non-normalized RSI , that is why it should be a more accurate representation of price momentum.

ADMF is an accumulation/distribution and money flow momentum indicator . Both ASI and ADMF are not range-bound so it is not easy to compare them against each other. When stochastic equation is applied to them, they both become range-bound and comparable. The gaps between the two indicator can reveal valuable information about market dynamics. The chart below shows some examples (note the settings).


For conventional usages of stochastic , please read https://www.tradingview.com/wiki/Stochas...(STOCH) and https://www.tradingview.com/wiki/Stochas...(STOCH_RSI). I recommend you to find the optimal length by playing with the stoch length in the indicator settings. If this parameter is calibrated properly, this indicator can be a powerful tool for identifying market cycle.

You can get these features (ATH, ATL detection and historical stochastic ) for any other indicator using the script below:

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Komen

can u explain about in detail?
it seems contradictory with the logic about the right part of right picture.
Balas
I came for the absolute strength. And for a first glance, this gives nice signals,
Lucky for me, as I wouldn't have given the rest of this a second look. (stochastics are either noisy or slow. and MoneyFlow seem to get it wrong a few time to many, might be my understanding :) )

Thank you for putting up a lot of good examples and explanations, with those this becomes a thing of beauty. Never seen anything quite like it.

. I set it up without the signal lines. and use the combination AS / MF, and increased the smoothing slightly.
. It surpasses the ADL I've been using with earlier and cleaner signals.

I'm just looking at some recent trades where I've felt at a loss to explain the priceaction. The moneyflow seems to give a clear picture.
And I think this might even keep me out of the long sideways choppyness.

Thanks again, If after some testing it works realiably; I might modify this to color fill the lines to give a clear reading at a glance.
Balas
Hi I am new and I would like to know how to convert this code into a mql4 file so I can added to my mt4 indicator list! Can you help please ! Thanks
Balas
Thank you for sharing.
+1 Balas
praeclarus
Balas
cI8DH lignin
@lignin, Thanks, I learned a latin word :D
+1 Balas
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