I noticed that this indicator was not in the public library, so I decided to share it. This is Larry Williams take on stochastics, based on his idea of synthetic vix. Thanks to Active trader magazine, his article on the idea shows us how this tool can be used as a timing instrument for his sythetic vix. The idea he relates is that the market becomes oversold at the height of volatility and the stochastic can highlight the periods when the panic may be over. This is evidenced by readings above 80 and below 20. He states that his indicator is less reliable at market tops rather than bottoms, and evidence suggests just that. Stochastics readings in this indicator have been adjusted to look and 'feel' like traditional readings. His suggested settings are the default, but I have included a more traditional line in the code that reads the WVF high and low in the calculation instead of just the WVF, just uncomment the appropriate lines and see for yourself. This indicator works really well with the Williams Vix Fix, inverted of course, coded by ChrisMoody. Enjoy responsibly ShirokiHeishi see the notes on chart
Comments
TVTrader2019
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Hello. Quick question. I see that there are two lines on this indicator. How is each line used and are both needed? Thanks!
MONEYMENOW
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REAL GOOD JOB.. May b u could improve it by inverting the Vix bottom finder just to ease on the eye and add inverse bottoms or tops.. I do not know programming but surely can suggest..
Trading-Rog
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sudhir.mehta
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Thanks for sharing!!! Good indicator!!!!!!!!!!!!!!!!!!!!