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Registered User
Joined: 10/13/2005
Posts: 13
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Is there a pfc for the Williams accumulation/distribution with horizontal lines at 95 and 5.
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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I'm really not sure if it is what you are looking for or not, but you may want to review the following topic:
To create a scan to find high TSV 18 and high William's A/D indicator
There really isn't a way to place lines at 5 and 95. The fact that you want these lines is also what makes me think the link might not be what you want since it is a Cumulative Indicator.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 10/13/2005
Posts: 13
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Bruce:
This formula is not working for me. I am looking for an Adv/Decline line with lines at 5% and 95%.
I think the TVS 18 may be throwing the scan off.
Is there such a scan or is there a library of scans I can search thru.
Thanks
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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There isn't currently a library of Custom Indicators that have already been written. Previously developed EasyScans, Personal Criteria Formulas and Custom Indicators can be located only by using the forum's Search.
The indicator in the referenced topic doesn't actually have TSV18 in it despite the topic's title. As I've already indicated, there really isn't a way to place lines at 5% and 95% (and such lines wouldn't make sense in a Cumulative Indicator). Do you have any idea how the indicator you are interested in is calculated?
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 10/13/2005
Posts: 13
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Thanks for your reply. I will do some research and get the information back to you.
LZ
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Registered User
Joined: 10/13/2005
Posts: 13
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Bruce:
Hope this helps
Williams Accumulation Distribution
Construction
To calculate Williams Accumulation Distribution:
1. Calculate the True Range High and True Range Low:
True Range High is the greater of:
High [today], and
Closing price [yesterday]
True Range Low is the lesser of:
Low [today]
Closing price [yesterday]
2. Compare Closing price to yesterday's Closing price:
If Close [today] is greater than Close [yesterday]
Price Move [today] = Close [today] - True Range Low
If Close [today] is less than Close [yesterday]
Price Move [today] = Close [today] - True Range High
If Close [today] equals Close [yesterday]
Price Move [today] = zero
3. Multiply the price move by volume:
AD [today] = Price Move [today] * Volume [today]
4. Calculate the cumulative total:
Williams AD = AD [today] + Williams AD [yesterday]
NOTE:
Steven Achelis omits step 3. above in his book Technical Analysis A-Z and several other websites/software programs appear to follow this approach. For the benefit of investors accustomed to Achelis' approach, we have provided both versions. Achelis' version is described as Williams Accumulate Distribute.
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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Where are you picking up the idea that 5 and 95 are significant levels for this culumative indicator?
- Craig
Here to Help!
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Registered User
Joined: 10/13/2005
Posts: 13
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I had an instructor a couple of years ago, who used this indicator, very successfully.
The other charting s/w I was using has this indicator built into its library.
I am trying tc2000 out. I am trying to setup this s/w like the other one that I was using
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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Something is missing then.
A culuamtive indicator (which is what you present above) has no limits and, as a result, values of 5 or 95 are meaningless.
Those type of values sound like the indicator should have a limited potential value range (maybe from 0 to 100) like Stochastics or RSI.
Is it possible you are mixing up the names and the 5/95 are values that are meaningful for another indicator?
- Craig
Here to Help!
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Registered User
Joined: 10/13/2005
Posts: 13
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I will have to do more research and get back to you.
thanks
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Registered User
Joined: 10/13/2005
Posts: 13
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This is the information I was looking for to explain what I am trying to do.
The "Scan" is just a pane on a Trade Navigator template containing:
1- Percent R-value 14(bars used in calculations)
2- Williams Accumulation/Distribution
3- horizontal (dotted) line-value 95
4- horizontal (dotted) line-value 5
When the lines - on a six month (daily) chart - cross above the 95% line, the stock(price) will head down, usually within just a few days. When they cross below the 5% line it will head up, again within a few days. Occasionally the stock will start to move, but hover around the horizontal line it just crossed for a while, before finally moving to the other opposite horizontal line. This scan seems to work about 80(+)% of the time.
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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I believe your 5 and 95 are for use with the Percent R, not the A/D
Check out the topic that Bruce linked at the very top of this thread. There you can plot the A/D. Here is a link on plotting the William's %R:
Williams % R
Getting the 5 and 95 to plot and show is still not possible.
- Craig
Here to Help!
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Registered User
Joined: 10/13/2005
Posts: 13
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Thanks:
I will checkit out tonight.
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