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Tagged: williams advance decline
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)
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
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