Accumulation Swing Index (ASI)

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AccumSwingIndex.efs  EFSLibrary - Discussion Board
  

File Name: AccumSwingIndex.efs


Description:
Accumulation Swing Index (ASI)


Formula Parameters:
Daily Limit : 10000

Notes:
The Accumulation Swing Index is a cumulative total of the Swing Index.
The Accumulation Swing Index was developed by Welles Wilder.
The SwingIndex function was developed to help cut through the maze of
Open, High, Low and Close prices to indicate the real strength and direction
of the market. The Swing Index function looks at the Open, High, Low and
Close values for a two-bar period. The theory is that there are four cross-bar
and one intra-bar comparisons that are strong indicators of an up or down day.
The Swing Index returns a number between -100 and 100. If the factors point toward
an up day, then the function value will be positive and vice versa. In this way,
the Swing Index gives us definite short-term swing points, and it can be used to
supplement other methods as a breakout indicator. A breakout is indicated when the
value of the Accumulation Swing Index (ASI) exceeds the ASI value on the day when a
previous significant High Swing Point was made. A downside breakout is indicated when
the value of the ASI drops below the ASI value on a day when a previous significant
low swing point was made.
Since only futures have a relative daily limit value, this function only makes sense
when applied to a futures contract. If you use this function and it only plots a zero
flat line, check the Daily Limit value.

Download File:
AccumSwingIndex.efs




EFS Code:






/*********************************Provided By:      eSignal (Copyright c eSignal), a division of Interactive Data     Corporation. 2009. All rights reserved. This sample eSignal     Formula Script (EFS) is for educational purposes only and may be     modified and saved under a new file name.  eSignal is not responsible    for the functionality once modified.  eSignal reserves the right     to modify and overwrite this EFS file with each new release.Description:            Accumulation Swing Index (ASI)    Version:            1.0  05/13/2009    Formula Parameters:                     Default:    Daily Limit                         10000    Notes:    The Accumulation Swing Index is a cumulative total of the Swing Index.     The Accumulation Swing Index was developed by Welles Wilder.    The SwingIndex function was developed to help cut through the maze of     Open, High, Low and Close prices to indicate the real strength and direction     of the market. The Swing Index function looks at the Open, High, Low and     Close values for a two-bar period. The theory is that there are four cross-bar     and one intra-bar comparisons that are strong indicators of an up or down day.    The Swing Index returns a number between -100 and 100. If the factors point toward     an up day, then the function value will be positive and vice versa. In this way,     the Swing Index gives us definite short-term swing points, and it can be used to     supplement other methods as a breakout indicator. A breakout is indicated when the     value of the Accumulation Swing Index (ASI) exceeds the ASI value on the day when a     previous significant High Swing Point was made. A downside breakout is indicated when     the value of the ASI drops below the ASI value on a day when a previous significant     low swing point was made.    Since only futures have a relative daily limit value, this function only makes sense     when applied to a futures contract. If you use this function and it only plots a zero     flat line, check the Daily Limit value. **********************************/var fpArray = new Array();var bInit = false;function preMain() {    setPriceStudy(false);    setShowCursorLabel(true);    setShowTitleParameters( false );    setStudyTitle("Accum Index");     setCursorLabelName("Accum Index");    var x = 0;    fpArray[x] = new FunctionParameter("DailyLimit", FunctionParameter.NUMBER);    with(fpArray[x++]) {        setName("Daily Limit");        setLowerLimit(1);        setDefault(10000);    }    }var xAccumIndex = null;function main(DailyLimit) {var nAccumIndex = 0;        if (bInit == false) {        xAccumIndex = efsInternal("Calc_ASI", DailyLimit);        bInit = false;    }    nAccumIndex = xAccumIndex.getValue(0);    if (nAccumIndex == null) return;    return nAccumIndex;}var xOpen = null;var xClose = null;function Calc_ASI(nDailyLimit) {var K = 0;var R = 0;var AbsHighClose = 0;var AbsLowClose = 0;var AbsCloseOpen = 0;var SwingIndex = 0;var ASI = ref(-1);    if (xOpen == null) xOpen = open();    if (xClose == null) xClose = close();    var h0 = high(0);    var l0 = low(0);    var o0 = xOpen.getValue(0);    var o1 = xOpen.getValue(-1);    var c0 = xClose.getValue(0);    var c1 = xClose.getValue(-1);    if (c1 == null) return;    AbsHighClose = Math.abs(h0 - c1);	AbsLowClose = Math.abs(l0 - c1);	AbsCloseOpen = Math.abs(c1 - o1);	if (AbsHighClose >= AbsLowClose){		K = AbsHighClose;		if (AbsHighClose >= (h0 - l0)) R = AbsHighClose - 0.5 * AbsLowClose + 0.25 * AbsCloseOpen;		else R = (h0 - l0) + 0.25 * AbsCloseOpen;	} else {		K = AbsLowClose;		if (AbsLowClose >= (h0 - l0)) R = AbsLowClose - 0.5 * AbsHighClose + 0.25 * AbsCloseOpen;		else R = (h0 - l0) + 0.25 * AbsCloseOpen;	}	if (R != 0)	        SwingIndex = 50 * (((c0 - c1) + 0.50 * (c0 - o0) + 0.25 * (c1 - o1)) / R ) * K / nDailyLimit;	else		SwingIndex = 0;	ASI += SwingIndex;    return ASI;}