Use of classical Indicator
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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 bNicolas thanked this postThe same Indicator can be used in Forex as well in indices and shares
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Topic Details
| Forum: | ProBuilder: Indicators & Custom Tools |
| Language: | English |
| Started: | 01/21/2020 |
| Status: | Active |
| Attachments: | 2 files |
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