Use of classical Indicator

• 01/21/2020 at 10:47 PM #117460
  Zigo

  Use of a classical Indicator.
  The Indicator can be set under (above)the graphic and in the graphic.

  //Compute %R Williams Indicator twice, once with the High and second with the low instead of the close c1=Williams[11](high) c2=Williams[11](low) //Compare with the Overbought conditions if c1 >-20 and c1 > c1[1] then b = close+(0.1*close)-close //Compare with the Oversold conditions elsif c2 < -80 and c2 < c2[1] then b=close -(0.1*close)-close endif //Backgroundcolors and arrow's up and down if b >= 0 then BACKGROUNDCOLOR(0,0,0,25) if b crosses over 0 then DRAWARROWUP(barindex, low-1.5*AverageTrueRange[14](close))coloured(0,0,0,255) endif elsif b < 0 then BACKGROUNDCOLOR(0,0,0,45) if b crosses under 0 then DRAWARROWDOWN(barindex, high +1.5*AverageTrueRange[14](close))coloured (255,255,255,255) endif endif return b

  1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25

  //Compute %R Williams Indicator twice, once with the High and second with the low instead of the close c1=Williams[11](high) c2=Williams[11](low) //Compare with the Overbought conditions if c1 >-20 and c1 > c1[1] then b = close+(0.1*close)-close //Compare with the Oversold conditions elsif c2 < -80 and c2 < c2[1] then b=close -(0.1*close)-close endif   //Backgroundcolors and arrow's up and down   if b >= 0 then BACKGROUNDCOLOR(0,0,0,25) if b crosses over 0 then DRAWARROWUP(barindex, low-1.5*AverageTrueRange[14](close))coloured(0,0,0,255) endif elsif b < 0 then BACKGROUNDCOLOR(0,0,0,45) if b crosses under 0 then DRAWARROWDOWN(barindex, high +1.5*AverageTrueRange[14](close))coloured (255,255,255,255) endif endif return b

   

  1 user thanked author for this post.

  Nicolas

  

  Zigo

  Participant

  Topics: 24

  Replies: 346

  Been thanked: 63 times
  01/21/2020 at 10:53 PM #117465
  Zigo

  The same Indicator can be used in Forex as well in indices and shares

  

  Zigo

  Participant

  Topics: 24

  Replies: 346

  Been thanked: 63 times
  01/21/2020 at 11:17 PM #117469
  Vonasi

  Zigo – Thank you for your post but the ‘New Members’ forum is not the place for topics relating to indicators so I have moved your post to the ProBuilder forum which is. Please try to post in the correct forum with future topics.

  Also when posting try not to include your comments within the inserted code. I have tidied up your post and moved it to the correct forum. 🙂

  

  Vonasi

  Moderator

  Topics: 192

  Replies: 5088

  Been thanked: 1811 times
  01/22/2020 at 7:40 AM #117483
  Nicolas

  Thanks for sharing this new indicator with the community, I appreciate a lot! The “ZigoMathematics” indicator 😆

  

  Nicolas

  Keymaster

  Topics: 81

  Replies: 20863

  Been thanked: 4775 times
• Author
  Posts