Screener for Williams’s highs and lows

Screener for Williams’s highs and lows

This screener complete the code I wrote at this link and helps to find the highs and lows as described by Williams.

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No information on this site is investment advice or a solicitation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.

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  1. eisi • 140 days ago #

    Ciao gabri! First of all thank u for publishing ur Screener. U wrote c1 is the long and c2 the short condition. So why is the Screener condition [c1 and not c2]? And if i would like to see if the Signal is long or short, like Go=1 for long and Go=-1 for short, how can i write that? Thank u in advance!

  2. gabri • 140 days ago #

    Eisi, I left both option open in case someone wants to screen for long and short. I could have slashed out the line with the C2 condition and screened only for C1, it would give the same results.

  3. Bard • 60 days ago #

    Hi Gabri, Thanks very much for your Williams’ coding indicators and screeners.

    With this screener I’m not sure how you know when/where it’s showing you the highs or lows, (I added screener [c1 AND c2] instead of long only), as there’s no drawings of flashing lines like other screeners?

    Your Williams’ High and Low indicator is pretty amazing! I was wondering though how you would code a system so that it took: long trades at the intermediate low swing ellipse points and
    intermediate high swing ellipse points? I have added the indicator code into the system but am unsure how to set the conditionality to buy and sell?
    Cheers

  4. gabri • 60 days ago #

    Bard, thanks for the comment. I don’t do automatic trading and I am not sure this indicator was created with the purpose of automatic trading. I believe this indicator is a good tool to assess swing points (Williams is a swing trader). I can work on your request and I will let you know.

  5. Bard • 59 days ago #

    Thank you so much @gabri.
    Are you using the indicator for live trading, I’m wondering how reliable it has been?

    I was interested to see how the “high and lows” indicator performed in a backtest because it just looks incredible on every chart I pull up from the £/$ to the Wall Street Dow.

    Screenshots of Wall St when it’s rising and since the Jan/Feb volatility shock:
    https://www.dropbox.com/s/98gik75u3x169j2/dow1.png?dl=0
    https://www.dropbox.com/s/fp3bo8ow9f0bq0w/dow2.png?dl=0

    The last time I go this excited by an indicator was when I read the research on this statistically sound and thoroughly backtested Cynthia Kase ATR/Standard Deviation Stop that Nicolas kindly coded at my request along with the Kase Peak Oscillator:
    https://www.prorealcode.com/prorealtime-indicators/kase-dev-stop-v3/
    https://www.prorealcode.com/prorealtime-indicators/kase-peak-oscillator-v2/
    Discussion: https://www.prorealcode.com/topic/kase-peak-oscillator-kase-cd-and-kase-permission/
    Kase Convergence / Divergence is meant to be used with the Peak Oscillator. It’s uncoded currently.

    Funny, I’ve had a copy of Williams’ book you mentioned on my Mac for ages. I’m reading it now!

  6. gabri • 58 days ago #

    Bard, I coded this indicators after reading the book written by Wiliams. I personally use the Wyckoff techniques. Williams (Larry first and then Michelle, his daughter) apparently won the trading world championship using also this technique. From what I saw it’s a strong indicator but I have no data associated with it and no backtesting done…sorry 🙁

  7. Bard • 58 days ago #

    Thanks for the tip Gabri, it looks like Wyckoff is mainly for stocks (which I don’t trade) but has some useful and interesting techniques that can be applied to currencies an other asset.

    I’m looking at when the Williams High Low Indicator will paint a new ellipse up (or down arrow), in terms of time elapsed before an intermediate ellipse/arrow is painted. If you’re looking at “intermediate lows” for example, (1 hour chart), it paints the ellipse up arrow after a candle is surrounded by higher short term lows either side of it.

    So am I right in saying that the very last green ellipse/intermediate low in this image:
    https://www.dropbox.com/s/i5a0xjqc0p7jv4b/IntermediateLow.png?dl=0
    won’t be painted until there are two green short term arrows either side of that candle and it will become a painted candle with an ellipse, (an intermediate low), only when that far right/last short term low green arrow, is drawn (i.e. where my crosshair is located), right?

    Also, I was wondering if could you please explain the meaning of this line:
    “if alto<alto[1] and trend=1 then trend=0" ?

    It'll be interesting to see how an automated strategy will cope with different timeframes so that it doesn’t take too long for the intermediate lows (highs) too form and when they do form, that the new bar you enter on hasn’t move so far from the ellipsed candle as to be not very profitable, (profit versus drawdown).

    Cheers,
    Bard

  8. gabri • 57 days ago #

    Bard,
    you are right on the way ellipsis and arrows are drawn. The line you mentioned is just to define the short term trend. It’s the quickest (and I am sure not the most elegant) way to do it. I am sure that someone smarter than me will be able to backtest this system like you suggest. I thought about applying this system on smaller timeframes as well but the waves are still entered with some delay and I believe that only the big ones might be really profitable.

  9. Bard • 57 days ago #

    Thanks that makes sense about the short trades.
    Yes it just occurred to me about how late the paint comes on these intermediate ellipses as I manually traded the £/$ daily from 1976 to 1980 and 2014 to present using these ellipses yesterday. Once a naming convention for the “ellipse event” has been figured out it should be possible to automate it I hope, (not trying to rush you!)

  10. Bard • 25 days ago #

    Hi @Gabri, I hope your trading’s going well. I wondered if you had found any time to write a line of code so that a system can take:
    long trades at the intermediate low swing ellipse point and short trades at the intermediate high swing ellipse points? I couldn’t figure a way of writing that ellipse event? Cheers.

  11. gabri • 24 days ago #

    Hi Bard, all is fine…just super busy. Unfortunately I haven’t had time to do that, it’s still in my pipeline though 🙂

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