HPotter

Bill Williams Averages

This indicator calculates 3 Moving Averages for default values of
13, 8 and 5 days, with displacement 8, 5 and 3 days: Median Price (High+Low/2).

The most popular method of interpreting a moving average is to compare
the relationship between a moving average of the security's price with
the security's price itself (or between several moving averages ).
Remove from Favorite Scripts Add to Favorite Scripts
////////////////////////////////////////////////////////////
//  Copyright by HPotter v1.0 14/08/2014
// This indicator calculates 3 Moving Averages for default values of
// 13, 8 and 5 days, with displacement 8, 5 and 3 days: Median Price (High+Low/2).
// The most popular method of interpreting a moving average is to compare 
// the relationship between a moving average of the security's price with 
// the security's price itself (or between several moving averages).
////////////////////////////////////////////////////////////
study(title="Bill Williams Averages. 3Lines", shorttitle="3 Lines", overlay = true)
LLength = input(13, minval=1)
MLength = input(8,minval=1)
SLength = input(5,minval=1)
LOffset = input(8,minval=1)
MOffset = input(5,minval=1)
SOffset = input(3,minval=1)
xLSma = sma(hl2, LLength)[LOffset]
xMSma = sma(hl2, MLength)[MOffset]
xSSma = sma(hl2, SLength)[SOffset]
plot(xLSma, color=blue, title="MA")
plot(xMSma, color=red, title="EMA")
plot(xSSma, color=green, title="EMA")
This is incorrect: the indicator uses Smoothed Moving Average (SMMA), not simple MA.

This indicator is primarily used to determine whether the current wave is impulse or corrective. It was created by a supercomputer (model parameters generated from data). Thus SMMA is needed or the model won't work right.
Reply
HPotter PRO the_batman
2 years ago
I can make changes if you to write formula how it should be.
Reply
the_batman PRO HPotter
2 years ago
That'd be greatly appreciated. TV's version of the alligator is also wrong. I don't think TV has the SMMA moving average function, so you'd have to code it yourself. The formula is here: http://www2.wealth-lab.com/WL5Wiki/SMMA.ashx
Reply
HPotter PRO the_batman
2 years ago
How we can check it?
Bill Williams Averages SMMA
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out