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Registered User
Joined: 10/7/2004
Posts: 3
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Dear Trainer,
I am interested in doing a couple of sorts to find the stocks with the greatest divergence between: (1) stock price and TSV(18)and; (2) stock price William's Accumulation/ Distribution indicator. Can these 2 scans be combined into one scan or must two separate scans be performed?
I don't know how to write PCF's, but I do have the formulae for the William's A/D indicator. Here is the formulae:
To calculate Williams' Accumulation/Distribution indicator, first
determine the True Range High(TRH) and True Range Low(TRL).
TRH = Yesterday's close or today's high, whichever is greater.
TRL = Yesterday's close or today's low, whichever is less.
Today's accumulation/distribution is then determined by comparing
today's closing price to yesterday's closing price.
If today's close is greater than yesterday's close:
Today's A/D = today's close - TRL
If today's close is less than yestersday's close:
Today's A/D = today's close - TRH
If today's close is equal to yesterday's close:
Today's A/D = 0
The Williams' Accumulation/Distribution indicator is a cumulative total of these daily values:
Williams' A/D = Today's A/D + Yesterday's Williams' A/D
Thanks for your assistance with these 2 formulas.
Bill Greene
(e-mail removed by moderator)
(Worden user name: 3 coffee)
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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You can create the described indicator using a Custom Cumulative Indicator:
Up Condition:
C>C-1
Down Condition:
C>C+1
Value To Add/Subtract:
(C<C1)*(H+C1-2*C+ABS(H-C1))/2+(C>C1)*(L+C1-2*C-ABS(L-C1))/2
The following videos demonstrate adding indicators to the chart and a method to help identify divergences:
Adding, removing and saving indicators to a chart template
Using Linear Regression Sorts to Help Spot Divergences
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 1/1/2005
Posts: 2,645
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Bill,
What you have described is sometimes called the Williams Accumulate Distribute Indicator. The original Williams Accumulation Distribution Indicator is obtained by multiplying your "Todays A/D" by Volume. The change, as I understand it, is due to a typographical error.
The original, if desired, is obtained by changing Bruce's Value To Add/Subtract to:
V*((C<C1)*(H+C1-2*C+ABS(H-C1))/2+(C>C1)*(L+C1-2*C-ABS(L-C1))/2)
Thanks,
Jim Murphy
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Registered User
Joined: 2/17/2007
Posts: 13
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would it be possible to create an easy scan of Williams %R over -80 and a seperate scan of under -20?
also is there a formula of Williams %R so I could add to my charts?
thanks for all your help
Jim
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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jimcronkhite,
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!
How to create a Personal Criteria Forumula (PCF)
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 1/28/2005
Posts: 6,049
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Bruce
Does the Williams AD thats in telechart now as a built in indicator just use price?
Thanks
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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Yes, it is the version based on just price without being multiplied by volume.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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