Manual for the indicator "Bill Williams Advanced"

Signal types

The "Bill Williams Advanced" indicator duplicates the classic signals of the "Profitunity" system based on the AO and AC indicators. All signals on the indicator panel are determined by closed bars. There are three types of such signals: Zone signals, AO signals, AC signals.

1. Zone Signals

• The red zone is a situation where the AO and AC indicators simultaneously move in a downward direction and form red bars at the moment the bars close.
• The green zone is a situation where the AO and AC indicators simultaneously move in an upward direction and form green bars at the moment the bars close.
• The gray zone is a situation where the AO and AC indicators move in different directions. For example, AC might be green and AO might be red.

1.1 Zone duration

The duration of the formation of the zone is marked with numbers: 1 - the first bar of the zone, 2 - the second bar of the zone, etc. Only red and green zones are marked with numbers; the gray zone (absence of a trend) is not marked in any way. In the example below, the indicator indicated a strong uptrend (the green zone lasted 4 bars in a row).

2. AO signals

Within the "Profitunity" system there are three types of signals that the AO indicator gives:

• "Saucer" - marked on the indicator panel as "Sau"
• "Crossing the zero line" - marked on the indicator panel as "Cross"
• "Two peaks" - marked on the indicator panel as "2peak"

Below you can see the daily Bitcoin chart, where the “Two Peaks” signal was formed on the AO indicator. As can be seen on the panel, the signal was formed on the second closed bar. In addition, we see that on the next bar we received the second bar of the Red Zone.

To trade AO signals, the Profitunity system recommends using pending orders. For example, in the picture above, it would be necessary to place a Sell Stop below the low of the signal bar.

The "2 peaks" signal in the picture above is a reversal signal and can be traded both with the trend and against the trend.

Exceptions to the rules (when you can trade a countertrend):

• “5 bullets that kill a trend” is a setup that appears at the moment of reversal of major movements.

3. AC signals

The AC indicator also gives three types of signals:

• "Crossing the zero line" - marked on the indicator panel as "Cross"
• "Buying or selling in accordance with the driving force" - marked on the indicator panel as "Agr"
• "Buying or selling in disagreement with the driving force" - marked on the indicator panel as "Disagr"

In the example below, a buy signal “Crossing the zero line” was generated by AO. The maximum of the signal bar has not yet been broken, which means the signal remains valid and is repainted yellow.

Purple outline - The signal has been generated and has already been triggered (the maximum or minimum of the signal bar has already been broken). Sometimes you can still have time to enter the market if the price has not gone too far.

In the example below, a “Buy in disagreement with the driving force” signal was generated on AC. The maximum of the signal candle was broken, indicating activation of the signal. After breaking through the maximum, the signal turned purple on the indicator panel.

Blue outline - The signal was generated, but during the next bar it did not work, moving 1 bar to the left in the indicator panel. It is important that the next bar after the signal one on the AO or AC indicator closes in the same direction (i.e., turns the same color) as the signal one. This way the "Special Blue Light" is lit - i.e. the opportunity to open a trade at a better price.

In the example above, on a downward signal candle, we generated two signals at once: “Two peaks” by AO and “Crossing the zero line” by AC. The "Profitunity" system involves the use of a pending order "Sell Stop" at the low of the signal candle. As can be seen in the example above, the next candle after the signal one did not break through the low of the signal candle, but closed higher, while maintaining the sales direction on the AO and AC oscillators.

The signal on the indicator panel is outlined in blue, which means that the downward signal remains, but the pending order for it can be moved beyond the low of the next (white) candle. This way we got a better entry price.

Without outline - The conditions for generating the signal are no longer relevant, or it has already served its purpose.

In the fifth version of Metatrader, in addition to standard timeframes, exotic ones were added, which significantly increased the list of timeframes. To switch to using all existing time frames, change the "classicTF" parameter to "False". In this case, the indicator will display data on the following timeframes: m1, m2, m3, m4, m5, m6, m10, m12, m15, m20, m30, H1, H2, H3, H4, H6, H8, H12, D1, W1 , Mn. See example below:

As in the situation with classic timeframes, the indicator also takes information on all possible timeframes from its own list, and does not adapt to the user’s configured terminal. Therefore, you have two possible options for displaying indicator signals:

For the multi-timeframe version of the indicator to work correctly, it needs instrument quotes. If you have been analyzing and trading on any instrument for a long time, then there will be no problems. The indicator will immediately install and display all signals.

But if you drag an instrument whose quotes are not available in the trading terminal onto a chart with an indicator, then during the loading process the indicator may display incorrect information. When they are fully loaded, the indicator’s operation returns to normal.

Minimum trading instruments requirements

In order for the indicator to work properly, it needs to have at least 37 bars on the chart of each analyzed time frame. These are the minimum requirements for the AO and AC indicators to operate. If on one of the timeframes there are less than 37 bars, the indicator will not work normally, since it will have nowhere to take data for analysis.

The multi-timeframe version will not work normally on such instruments. You can select only 1 working timeframe (current) in the settings, but again make sure that there are more than 37 bars on the chart where the indicator is located. There is no way to correct this, since Bill Williams Advanced in its analysis relies entirely on the readings of the AO and AC indicators, which we cannot influence in any way.