Accumulation Swing Index
Per Investopedia: The ASI is used to gage the long-term trend by comparing bars which contain its opening, closing, high and low prices throughout a period of time. It is a trend finding/confirming tool.
//Accumulative Swing Index
//By Rob Pecoraro
//Feel free to use it!
//If you change it, improve it or alter it, just give me props in a comment!
study("ASI", overlay=false)
a = high - close[1]
b = low - close[1]
c = high - low
L = input(30000, minval=1)
K = max((high[1]-close), (low[1]-close))
TR1 = max(a, b)
TR2 = c
TR = iff(TR1>TR2, TR1, TR2)
ER = iff(a > b, (high-close[1])-.5*(low-close[1])+.25*(close-open[1]), iff(b > c, (low-close[1])-.5*(high-close[1])+.25*(close[1]-open[1]),(high-low)+.25*(close[1]-open[1])))
SH = close[1]-open[1]
R = TR-.5*ER+.25*SH
si = 50*(((close-close[1])+.5*(close-open)+.25*(close[1]-open[1]))/R)*(K/L)
asi = si[1]+si
plot(asi, "Fast",black, 2)