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Hi everyone,
i read kottgolf's thread "Trying to program WillTrend by Larry Williams".I'm trying to understand what kind indicator is this,plotted on the monthly chart of eurostoxx 50:
The author says that it is based on range,volatility and the position of the closes in the last n bars and that it works on any time frame without modifications(so i presume it's adaptive) .When High touches the upper band(blue line) a buy signal is given,when low touches the lower band(red) a sell signal is given.Furthermore,in the graph you can see two grey lines:If we are long and prices(low) touch the lower grey line,the market becomes neutral;if we are short and prices(high)touch the upper grey line,the market becomes neutral.
In other words,the indicator gives, at the end of every period, the levels of trend changes for the next period. It seems to me that it's a kind of willtrend indicator or adaptive atr bands.
I don't know other.
Thank you all and forgive my poor english
Can you help answer these questions from other members on NexusFi?
noumann - Could you state your objective more clearly? You have made two posts about this indicator which was developed by Francesco Caruso. He called it the Change of Trend Point system, but now it is called the Disciplined Investor or the Algorithm "ID". Mr Caruso says that this is an indicator that "no one else could imitate or copy" but apparently he will provide more information if you subscribe to his analysis service.
I know this is an old Post, but I have not been able to find an answer here or anywhere. And this post comes up first on my web search. I have the answer. Here it is:
upperBand = ((high-low)/2 + 2.236) * atr(66)
lowerBand = ((high-low)/2 - 2.236) * atr(66)
If your programming language does its math from left you right, you WON'T need the parenthesis.
That is what Larry Williams had in his presentation. He showed an image of a chart with the WillTrend indicator and the settings were there for everyone to see. Not sure how he came up with those values. I tried to add an image, but the posting here is archaic, cannot paste an image. I need to upload it somewhere and place the link here. Really? LOL not going to do all that. Sorry.
I used the Windows snipping tool to capture an image from a chart to the clipboard (I could have used any other image capture tool), and then did a copy-paste (ctl-v) into the editor window:
Not that archaic.
If something doesn't work the way you think it should, just ask. Maybe in fact there's a way.
Bob.
When one door closes, another opens.
-- Cervantes, Don Quixote
Larry Williams' WillTrend indicator, though, is not the one pointed out in the first post by: noumann, because this is the indicator (...it resembles a SuperTrend):
