Average Sentiment Oscillator

v10.3
Average Sentiment Oscillator

Description of this indicator from its author:
Average Sentiment Oscillator

Momentum oscillator of averaged bull/bear percentages.

We suggest using it as a relatively accurate way to gauge the sentiment of a given period of candles, as a trend filter or for entry/exit signals.

It’s a combination of two algorithms, both essentially the same but applied in a different way. The first one analyzes the bullish/bearishness of each bar using OHLC prices then averages all percentages in the period group of bars (eg. 10) to give the final % value. The second one treats the period group of bars as one bar and then determines the sentiment percentage with the OHLC points of the group. The first one is noisy but more accurate in respect to intra-bar sentiment, whereas the second gives a smoother result and adds more weight to the range of price movement. They can be used separately as Mode 1 and Mode 2 in the indicator settings, or combined as Mode 0.

Original indicator idea from Benjamin Joshua Nash, converted from MT4 version by a request in the english forum.

 

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Risk disclosure:

No information on this site is investment advice or a solicitation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.

ProRealTime ITF files and other attachments : How to import ITF files into ProRealTime platform?

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  1. albertocampagna • 04/18/2017 #

    Salve, bellissimo indicatore, ma purtroppo non riesco a farlo funzionare

    • tradingpro • 04/18/2017 #

      SALVE NICOLAS
      MI SAPRESTI INDICARE UN INDICATORE PER INSERIRLO NELLA PIATTAFORMA PER FARE TRADING IN AUTOMATICO
      GRAZIE

  2. simone • 04/18/2017 #

    a me sembra simile al vortex o sbaglio??

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