Wilder’s Accumulative Swing Index (ASI)
This index has been created by a genius of the trading world, Welles Wilder, the same that created ADX and RSI.
The index is quite straightforward but the application of it requires some knowledge of its principles. I suggest reading Wilder’s bestseller “New concepts in technical trading” (buying this book it’s an outstanding investment already but you can also find PDF’s of it on line).
dailylimit=1 //In case of commodities with a defined daily limit (maximum nove in one direction) add the real value. If trading stocks - where there is not a maximum daily limit - you can use any value you want.
if barindex>1 then
//definition SwingIdx parameters
AbsHighClose = abs(high - close)
AbsLowClose = abs(low - close)
AbsCloseOpen = abs(close - open)
CloseOpenToday=close - open
CloseOpenYesterday=close - open
if AbsHighClose=partialR then
r= AbsHighClose - 0.5 * AbsLowClose + 0.25 * AbsCloseOpen
r= AbsMaxMin + 0.25 * AbsCloseOpen
if AbsLowClose=partialR then
r= AbsLowClose-0.5*AbsHighClose+ 0.25 * AbsCloseOpen
if r<>0 then
SwingIdx = 50*(( CloseClose + 0.50 * CloseOpenToday + 0.25 * CloseOpenYesterday ) / R ) *( K / DailyLimit )
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