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Registered User
Joined: 5/28/2009
Posts: 39
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Hi..could I request the code needed to create the following condition:
Yesterday - Williams %R >-25
Today - Williams %R <-25
What I want to see is an alert for when Williams %R crosses into overbought territory.
Also...is it possible to adjust the overbought/oversold lines on the indicator so that overbought is -25 and oversold is -75?
Many thanks!
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Administration
Joined: 9/30/2004
Posts: 9,187
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What period are you using for Williams %R? Assuming you're using a period of 14...
STOC14.1.1 - 100 > -25 AND STOC14.1 - 100 < -25
If you're using a different period just change 14 to the period you're using.
To change the horizontal lines on the plot, click on Williams %R, then click Horizontal Lines and adjust the values to your liking.
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Registered User
Joined: 5/28/2009
Posts: 39
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Many thanks!
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Registered User
Joined: 5/28/2009
Posts: 39
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Can I ask for the PCF for Williams %R as I would like to substitute the Close for the High of the day (when looking for shorts) and the Close with the Low of the day (when looking for buys). Also...is it possible to display the two variats along with the genuine William's %R in the same Indicator Window? Many thanks!
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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Another way to write a formula for a 14-Period Williams %R would be:
100 * (C - MAXH14) / (MAXH14 - MINL14)
Substituting the Close of each day for High of each day would result in:
100 * (C - MAXC14) / (MAXC14 - MINL14)
While substituting the Close of each day for the Low of each day would result in:
100 * (C - MAXH14) / (MAXH14 - MINC14)
You can get the Custom Indicators to Plot in the same Pane as Williams %R in TC2000 version 12 by clicking on the Williams %R indicator and selecting Add Indicator instead of using the Add Indicator icon at the top of the chart.
You will probably want to also click on each of your Custom PCF Indicators and select Scaling to change the Scale method to -100 to 0 to get them into the same scale as Williams %R.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 9/28/2010
Posts: 7
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How can one display the same williams %R as you have described above in TC2000 version 7?
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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 14-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: STOC14 - 100
If you mean the versions given in my Thursday, December 22, 2011 9:03:14 AM ET post, you would just substitute one of those formulas for the Indicator Formula.
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 or to force multiple AutoScaled indicators to use the same scale.
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
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 5/4/2007
Posts: 17
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QUOTE (PiersP) Hi..could I request the code needed to create the following condition:
Yesterday - Williams %R >-25
Today - Williams %R <-25
What I want to see is an alert for when Williams %R crosses into overbought territory.
Also...is it possible to adjust the overbought/oversold lines on the indicator so that overbought is -25 and oversold is -75?
Many thanks!
HOw do you the same exact thing for oversold positions. This formula seem to work very well for over bought. I'd like to do the same thing for oversold.
Thanks,
Abraham
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Registered User
Joined: 5/4/2007
Posts: 17
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QUOTE (StockGuy) What period are you using for Williams %R? Assuming you're using a period of 14...
STOC14.1.1 - 100 > -25 AND STOC14.1 - 100 < -25
If you're using a different period just change 14 to the period you're using.
To change the horizontal lines on the plot, click on Williams %R, then click Horizontal Lines and adjust the values to your liking.
I was referring to the formula above. HOw do I make this formula return the oversold stocks instead of overbought?
I'm looking for a transition to show stocks that are/will be going higher in price.
Thanks,
Abraham
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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My best guess at what you want would be:
STOC14 < 25 AND STOC14.1.1 >= 25
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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