Use of classical Indicator

Zigo · 2020-01-21T21:47:02+00:00

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 = 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

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

Master
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
```
Nicolas thanked this post

EURUSD-15-minuten.png
01/21/2020 at 10:53 PM #117465 quote

Zigo
Participant

Master

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

DAX-3-minuten-1.png

01/21/2020 at 11:17 PM #117469 quote

Vonasi
Moderator

Master

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. 🙂

01/22/2020 at 7:40 AM #117483 quote

Nicolas
Keymaster

Legend

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