Example of Basic Indicator, & How to Code Advanced Features!!!
Description of Williams Accumulation Distribution
Williams AD is a running sum of positive accumulation values (buying pressure)
and negative distribution values (selling pressure),
as determined by price's location within a given day's true range.
To calculate the Williams' Accumulation/Distribution indicator, determine:
True Range High (TRH) = Yesterday's close or today's high whichever is greater
True Range Low (TRL) = Yesterday's close or today's low whichever is less
The day's accumulation/distribution is then calculated
by comparing today's closing price to yesterday's closing price.
If today's close is greater than yesterday's close: Today's A/D = today's close - TRL
If today's close is less than yesterday's close: Today's A/D = today's close - TRH
If today's close is the same as yesterday's close then the A/D is zero.
The Williams' Accumulation/Distribution indicator is a cumulative total of the daily values:
Williams A/D = Today's A/D + Yesterday's Williams A/D
Williams states it's worth selling if the price makes a new high
and the indicator fails to follow suit. As well,
it's better to purchase if prices fall to a new bottom
yet the A/D indicator fails to reach a new low.
CODES BELOW
Williams AD is a running sum of positive accumulation values (buying pressure)
and negative distribution values (selling pressure),
as determined by price's location within a given day's true range.
To calculate the Williams' Accumulation/Distribution indicator, determine:
True Range High (TRH) = Yesterday's close or today's high whichever is greater
True Range Low (TRL) = Yesterday's close or today's low whichever is less
The day's accumulation/distribution is then calculated
by comparing today's closing price to yesterday's closing price.
If today's close is greater than yesterday's close: Today's A/D = today's close - TRL
If today's close is less than yesterday's close: Today's A/D = today's close - TRH
If today's close is the same as yesterday's close then the A/D is zero.
The Williams' Accumulation/Distribution indicator is a cumulative total of the daily values:
Williams A/D = Today's A/D + Yesterday's Williams A/D
Williams states it's worth selling if the price makes a new high
and the indicator fails to follow suit. As well,
it's better to purchase if prices fall to a new bottom
yet the A/D indicator fails to reach a new low.
CODES BELOW
Coming Soon: ChrisMoodyTrading.com
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Coming Soon: ChrisMoodyTrading.com
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.