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Williams %R

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Spreader

Posted : Friday, November 30, 2007 10:09:31 PM

Registered User
Joined: 10/7/2004
Posts: 6

Good evening. Could you assit me in writing a custom indicator to calculate Williams %R for my TeleChart template? Thank you.

Spreader
267855

Bruce_L

Posted : Monday, December 3, 2007 10:05:30 AM

Worden Trainer

Joined: 10/7/2004
Posts: 65,138

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:

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

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). You may wish to review the following:

Understanding Stochastics
Plotting Custom Indicators with Examples
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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