Manual for the indicator "Bill Williams Advanced"

Signal types

The "Bill Williams Advanced" indicator duplicates the classic signals of the "Profitunity" system. All signals on the indicator panel are determined by closed bars. There are four types of such signals: Zone signals, AO signals, AC signals, Reversal 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 hourly chart of the GBP/USD currency pair, where the "Crossing the zero line" signal was formed on the AO indicator.

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.

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"

4. Reversal signals

Reversal signals originate from two different systems:

• Price Action system patterns. These include "Pin Bar," "Outside Bar," and "PPR." They are displayed on the panel as "Pin," "OB," and "PPR."
• "Bill Williams' Divergence Bar." Displayed as "DB" on the indicator panel.

In the example below, a buy signal has formed using the AO and AC indicators. The signal bar's high has not yet been broken, meaning the signals remain valid and are colored 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, a "Buying in accordance with the driving force" signal was generated on the ascending signal candle using the AC oscillator. The "Profitunity" system involves using a pending "Buy Stop" order beyond the signal candle's high. As can be seen in the example above, the candle following the signal candle failed to break the signal candle's high and closed below it, while maintaining the buy direction on the AC oscillator.

The signal on the indicator panel is highlighted in blue, indicating that the upward signal remains, but the pending order can be moved beyond the high of the next candle. This gives us a more favorable entry price.

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

Signals:

• AC - display AC signals
• AO - display AO signals

Zones:

• Always - display zone numbers on the last five closed bars
• With Signal - display zone numbers only on bars with AO and AC signals
• Never - never display zone numbers

Reversal signals (Signals PA DB)

• Pin - display Pin bar
• PPR - display PPR
• OB - display Outside bar
• DB - display Divergent bar
• Long - display only buy patterns
• Short - display only sell patterns

1. Zone signals

2. AO signals

3. AC Signals

4. Reversal signals

Timer

The Profitunity system's signals are tied to the candle's closing time. This means that a new system signal may appear at the close of, for example, an hourly or four-hour candle.

Alert system

The indicator features a highly flexible alert configuration system. You can configure only the system alerts you need. The images below describe the notification configuration logic.

Settings tab

Trending filters

Timeframe filters

Filters by signal type

Fractal alerts

• Fractal signal on 1 bar. The system will alert you about a fractal signal if, after a fractal high or low, there is one closed bar and one current (unclosed) bar on the chart.
• Fractal signal on 2 bars. The system will alert you about a fractal signal if, after a fractal high or low, there are two closed bars and one current (unclosed) bar on the chart.

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:

Setting up higher timeframes

By default, the indicator displays timeframes in ascending order on the panel. For example, when on H4, we'll see the following:

The problem is that signals from, for example, monthly and weekly charts are rarely relevant. And when trading on H4 or D1, it would be much more logical to see signals from the working timeframes on the indicator panel. For example, m30, H1, H4, and D1. Therefore, we added the ability to limit the upper timeframe. In the program's external settings, there is a parameter called HideMonthWeek. When enabled, you can hide either the monthly timeframe or the monthly and weekly timeframes. And regardless of the timeframe you're on, signals on the panel will not be displayed above the daily chart. See the example below:

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.

Screen resolution:

By default, the indicator is adapted to a screen resolution of 1920 x 1080. With the "Scale and Layout" display setting set to 100%, all indicator elements will be displayed correctly.

If you have a wide monitor or a monitor with a very high screen resolution, the indicator may not display correctly on the chart.

In the example below, the indicator is loaded on a monitor with a display resolution of 3440 x 1440 and a "Scale and Layout" setting of 150%. As you can see, the indicator is displayed incorrectly and requires additional adjustments.

To ensure the indicator displays correctly, go to the program's external settings and find the "Zoom" parameter. By default, it's set to 1. As noted above, the "Scale and Layout" parameter in the example above is 150%. This is one and a half times higher than the default 100%.

This means we also need to multiply the "Zoom" parameter by 1.5. We enter 1.5 next to the "Zoom" parameter and get the following image: