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>Could someone describe the Williams True Trend Indicator. >Even possibly supply it in Omega ELA format.
Chris, my source is a Telerate 1995 workshop, where Williams stated: "when a dollar is not (always) a dollar". Basically, a market which shows the following quotes: H=60, L=52, C=58, being 57 the previous close, is a different market than that following these stats: H=63 L=57, C=58, even if the close is the same. Shortly, Mr Williams divides the net change for the day (1$) by the true range, then adding the result to a cumulative sum. The True Trend Index is a kind of accumulation/distribution indicator, with all kind of classical interpretation (divergences, trendlines, etc.)
Sorry, don't know easy language...
ciao
%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%% Gaetano Arnaldo Evangelista - BARI (Italy) E-mail: ageitaly@xxxxxx URL: http://www.geocities.com/wallstreet/8492 %%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%
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