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Registered User
Joined: 2/7/2005
Posts: 16
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Could you supply me with the formula and PCF's for Williams % R.
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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Williams %R is just the raw Stochastic minus one hundred (it runs from -100 to 0 instead of 0 to 100). So to create a Custom Indicator for a 10-Period Williams %R (the Personal Criteria Formula is the same as the Indicator Formula):
Select Chart Template | Add Indicator | Indicator.
- Visible: Checked
- Center Zero Line: Unchceked
- Plot using price scale: Unchecked
- Smoothing Average: 1
- Average Type: Doesn't matter (because the Smoothing Average is 1)
- Indicator Formula: STOC10 - 100
The result will be AutoScaled in that it will not necessarily run from -100 to 0. The highest value the Custom Indicator reaches in the visible portion of the Chart will be at the top of the Chart while the lowest value the Custom Indicator reaches will be at the bottom of the Chart. I do not know of a practical automated method to add lines at -20 and -80.
Another option might be to just add the built in Stochastic indicator and adjust it mentally. The Stochastic will run from 0 to 100 while the Williams %R will be autoscaled (although this may not matter with a short enough Period vs Zoom). It will have lines at 20 and 80 by default.
Plotting Custom Indicators with Examples
Understanding Stochastics
How to create a Personal Criteria Forumula (PCF)
PCF Formula Descriptions
Handy PCF example formulas to help you learn the syntax of PCFs!
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 2/7/2005
Posts: 16
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Thank you for the reply. However, what I am wanting is a formula specificly for Williams %R. Is that possible to obtain?
Emmette
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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Please accept my apologies for not being clear. STOC10 - 100 is the formula for a 10-Period Williams %R. Changing the period is simply a matter of changing the 10 in STOC10 to whatever Period you want for the Williams %R.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 2/7/2005
Posts: 16
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Thank you for the info.
Emmette
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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You're welcome.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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