by eddiebelaval· code credited to @thebitcoinfrontier
The Average Sentiment Oscillator (ASO) measures bullish and bearish market sentiment by evaluating intrabar and group price ranges over a specified period.
Average Sentiment Oscillator plots bull and bear sentiment lines in a separate pane along with optional shifted lead or lag lines and a delta oscillator. The indicator features modular settings for cycle projections (sine, cosine, and Fibonacci sine), phase rotation, multi-timeframe cycle analysis, and extreme level filtering.
Dual bull and bear sentiment calculation over custom period lengths
Optional lead or lag line shifting and sentiment delta plotting
Integrated cyclic wave projections including sine, cosine, and Fibonacci levels
Multi-timeframe cycle evaluation and phase rotation settings
Extreme sentiment filtering based on customizable upper and lower thresholds
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
Period?
int
10
length
Calculation Method:
int
0
mode
Show ASO Lead / Lag
bool
false
showASOLead
ASO Lead Bars (+Lead / -Lag)
int
0
asoLeadBars
Show ASO Delta (Lead - Normal)
bool
false
showASODelta
Show Sinus
bool
true
showSin
Show Cosinus
bool
false
showCos
Show Fib Sinus
bool
false
showFib
Cycle Length (Bars)
int
120
cycleLen
Fib Level
float
1.618
fibLevel
Phase Shift (Bars)
int
0
phaseShift
Use ASO Extrem Filter
bool
false
useASOFilter
Show all 19 settings
Setting
Type
Default
Variable
ASO Upper Level
int
70
upperLevel
ASO Lower Level
int
30
lowerLevel
Use Higher Timeframe Cycle
bool
false
useMTF
MTF Timeframe
timeframe
M
mtfTF
Use Phase Rotation
bool
false
useRotation
Rotation Angle
string
0°
rotationOpt
Show Cycle Circle Projection
bool
false
showCircle
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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