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If you compare the William's %R formula with that of stochastics, you will find
they are exactly the same. William's just reads inversely. Ira
"Rajat K. Bose" wrote:
> 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)))))
>
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