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The following indicator is my first attempt at using the AFL language
and a contribution to an excellent piece of software.
I hope you find it useful, and assume you haven't already created one.
Please do check it's accuracy - I didn't have access to a formula,
merely words in the books. Positive suggestions/criticism welcome.
Peter
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/* Williams %R
AFL Implementation by P P Carr 27 Dec 2000
Based on comments from John J Murphy's Book
Technical Analysis of the Financial Markets (USA)
and Technical Analysis by Elli Gifford (UK).
The formula has been modified to invert the display
to show overbought and oversold areas in similar
format to those of RSI and Stochastics.
Days can be modified easily. A smoother EMA curve has
been included, though not referred to in the above books.
*/
days = 20;
num = hhv( close, days ) - close;
den = hhv( close, days ) - llv( close, days );
rate = 100 - (num/den * 100);
graph0 = rate;
graph1 = ema( rate, 10 );
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--
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Peter Carr
Email: pcarr@xxxx ICQ: 22586379
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