Larry Williams indicators

Whilst we have the Williams %R and Ultimate Oscillator built in to Optuma it’s possible to add others using the scripting language. For example, the VIXFix indicator.

The indicator takes the highest closing price of the previous 22 trading days and subtracts the current low. This is then divided by the highest 22 day close, and then multiplied by 100. In Optuma, we can use the HIGHESTHIGH() function to recreate the indicator in our scripting language:

//Get the 22 day high
//Calculate the VIXFix
((HiClose-LOW()) / HiClose)*100

This can then be added to your toolbox (New > Script Tool), making sure that it is applied to a New Tool View - meaning it will be added in a window below the price chart with it’s own scale, much like an RSI or MACD. Once saved, this can then be applied from the right-click menu or custom toolbar button just like any other tool.


The Williams Accumulation / Distribution formula is:


As a script, we can do this in a Show View:

bp1 = HIGH() - OPEN();
sp1 = CLOSE() - LOW();
hl1 = HIGH() - LOW();
(bp1 + sp1) / (2 * hl1)

A paper at shows that adding a moving average to the VIXFix can be useful as a timing tool. Of course, adding an MA to an indicator in Optuma is simple to do.

Thanks Mike. The VIXFix formula above can also be combined with the Pivot() function to highlight significant peaks, which tend to correspond to price lows:

//Get the 22 day high
//Calculate the VIXFix
VF1=((HiClose-LOW()) / HiClose)*100;
//Get Pivot highs

Workbook attached for both US and ASX sector data:

VIXFix.owb (62.6 KB)

The VIXFix tool is now available by default in the software, without the need to add it using a formula: