Re: A variation of Williams' %R/ela request

[Proffittak@xxxxxxx]

In a message dated 4/30/99 9:04:11 AM Eastern Daylight Time, 
rajatkbose@xxxxxxxxxxx writes:

<< List members,
 
 Given below is an indicator, which is a variation of William's %R, used by 
 me in MetaStock 6.52. The structure of the indicator is similar to that of 
 Willams' %R.
 
 All I have done here is to substitute High and Low of any bar with that of 
 Bollinger Band Top and Bollinger Band Bottom.
 
 I have tested it on various time periods (for Bollinger Bands) using 2
 std.dev., it sometimes gives an early indication of reversals than the
 Williams' %R of the same period. Divergences have also been somewhat better.
 
 However, the structure shows that most of its properties are similar to that 
 of Williams' %R or for that matter any other overbought-oversoldindicator.
 
 Any comments, criticisms and/or suggestions in this regard would be
 highly appreciated.
 
 Thanks in advance.
 
 Rajat K Bose
 
 MetaStock formula:Periods := Input("Time Period", 3,50,5);
 NumDev := Input("No. of Standard Deviations", 1,5,2);
 (100*(C-BBandBot(C, Periods, S, NumDev))/((( BBandTop(C, Periods, S,
 NumDev))-(BBandBot(C, Periods, S, NumDev)))))
  >>
good morning
can someone  do an elafor this??
thanks in advance
Ben