September 4, 2018 at 12:56 am #48055
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:123456//Get the 22 day highHiClose = HIGHESTHIGH(CLOSE(), BARS=22, INCBAR=True);//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.September 4, 2018 at 1:02 am #48059
The Williams Accumulation / Distribution formula is:
As a script, we can do this in a Show View:123456bp1 = HIGH() - OPEN();sp1 = CLOSE() - LOW();hl1 = HIGH() - LOW();(bp1 + sp1) / (2 * hl1)
August 13, 2019 at 1:53 am #54267Michael
- This reply was modified 3 years ago by Darren.
- Topics: 3
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A paper at http://docs.mta.org/dow-award/2015-amber-hestla-barnhart.pdf 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.August 13, 2019 at 1:55 am #54269
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:12345678//Get the 22 day highHiClose = HIGHESTHIGH(CLOSE(), BARS=22, INCBAR=True);//Calculate the VIXFixVF1=((HiClose-LOW()) / HiClose)*100;//Get Pivot highsPIVOT(VF1, TYPE=High, MIN=20)
Workbook attached for both US and ASX sector data:
August 19, 2019 at 12:20 pm #54345
- This reply was modified 7 months ago by Darren.
Maybe I’ve done this wrong…
But applying the VIXFix (Show Bar) to the VixFix goes about highlighting market peaks.
Is this just me being biased to this tool… or is there something here…
Is it just randomly highlighting highs…
I can’t seem to understand the correlation in the calculation.
In theory, for the lagging indicator…. Buy = buy… red = sell
August 19, 2019 at 12:24 pm #54349
- This reply was modified 2 years ago by Jonathan.
You’ve done 22 days, whereas others quote just 20 days,August 20, 2019 at 1:22 am #54359
The tool is highlighting the 20 day pivot highs and lows on the VIXFix tool – if you want to make the signals less sensitive increase the pivot MIN=20 values in line 7 of the formula above to make them more significant.
In Larry’s original article he uses 22 days but if you want to use 20 just change the lookback value from 22 in the HighestHigh function in line 3.
1 user thanked author for this post.August 20, 2019 at 3:11 pm #54363
Ahh, Yes makes sense!
Has anyone had any luck using this as a script to pull up potential buys?August 20, 2019 at 8:49 pm #54365
I misunderstood what this indicator did. After testing more… Didn’t realise it was a fully lagging indicator.
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