Williams %R

[TraderJen]

Hello,

My esignal "library" lists a Williams indicator efs, but when I try to select it, nothing happens.
Is there a Williams indicator here, that I can download?

TIA, did a search and haven't found one yet.

Jen

[ACM]

TraderJen
You should already have two versions of Williams' PercentR in your computer in the EFS2 Basic and EFS2 Custom folders which you can modify to your requirements
Also you can easily write the same indicator using the Formula Wizard.
Alex

[TraderJen]

Hello Alexis,
I don't have a Williams %R in either of the folders you mention; I have many other efs's there, but no Williams.

Is there somewhere here I can retrieve and download those two efs's you mention into those folders?

Thank you,
Jen

[ACM]

Jen
The files are called customPercentR.efs and basicPercentR.efs.
FWIW the Williams PercentR study is essentially the same as the Stochastic %K but with a reversed scale of 0 to -100 instead of 0 to 100.
In the following image you can see a direct comparison of a 10 period Williams PercentR [ie percentR(10)] and a Stochastic %K of the same length with no smoothing [ie stochK(10,1,1)]



Unless you have a specific reason for wanting the scale inverted you may find it easier to use the Stochastic %K as you can easily smooth it by simply changing the second parameter [eg stochhK(10,3,1)] and you also have readily available its moving average by plotting the Stochastic %D [ie stochD(10,3,3)]
Alex