Registered User Joined: 12/30/2004 Posts: 84
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I have TC2000 v7 and do not see the williams %R (14) as an option to display as an indicator. Am I missing it? Can it be displayed on a chart?
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Worden Trainer
Joined: 10/7/2004 Posts: 65,138
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Williams %R is not one of the indicators built into TC2000 version 7, but it is also just a stochastic minus 100. So you could plot stochastics and mentally subtract 100 or you could re-create it using a Custom Indicator. For example, the formula for a 10-period William's %R would be as follows.
STOC10 - 100
Understanding Stochastics
-Bruce Personal Criteria Formulas TC2000 Support Articles
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Registered User Joined: 12/30/2004 Posts: 84
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Thanks Bruce. Two follow up questions since Williams %R is can not be displayed into v7....
1. PCF to show when Williams %R crosses up past -50 TODAY (anywhere between -50 up to 0)
2. PCF to show all stocks with Williams %R between -50 to 0
I think that the answer to question 2 is: (((MAXH10 - C) / ( MAXH10 - MINL10)) * ( - 100)) >= ( - 50)
Is the second answer correct?
Thank you
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Worden Trainer
Joined: 10/7/2004 Posts: 65,138
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Your second answer is correct, but it can be shortened to the following.
STOC10 >= 50
The first formula can be written as follows.
STOC10 > 50 AND STOC10.1.1 <= 50
Note that you can plot Williams %R in TC2000 version 7, you just need to do it as a Custom Indicator.
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
How to create a Personal Criteria Forumula (PCF)
PCF Formula Descriptions
-Bruce Personal Criteria Formulas TC2000 Support Articles
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