Williams AD – price based

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  • #63299
    Mark
    • Topics: 5
    • Replies: 7
    • Posts: 12

    I am trying to get a working script for Williams AD (based on price rather than the typical “volume based”)

    I thought this would work (found on a post a couple years back by Darren) but the script below does not seem to create a Williams AD based on price that looks anything like priced based Williams AD that I get on my other trading platforms.

    Maybe this is only part of what’s necessary or maybe the formula’s wrong. Can anyone shed some light?

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

    #63345
    Mathew
    • Topics: 40
    • Replies: 2,021
    • Posts: 2,061

    Hi Mark,

    That is the formula for the DRF (Daily Raw Figure) which matches what I have in Perry Kaufman’s Trading Systems book.

    Remember the distinction between the Breadth Advance Decline line and this AD Oscillator. It may be that the other trading apps are showing a breadth measure rather than this TA Indicator.

    Bottom line. Your script is right and it matches what we have for the Williams Advance Decline indicator.

    All the best

    Mathew

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