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Is it possible to make this custom indicator?

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kcheeb
19
kcheeb  

I want to know if its possible to make this simple custom oscillator where


1. Add stochastic + williams %R for current time frame (-100 to +100 oscillator)

2. Add stochastic + williams %R for M1, M5, M15, M30, H1, H4, D1, W1 times frames, total divided by 8 (also results in -100 to +100 oscillator)

Marco vd Heijden
Moderator
5647
Marco vd Heijden  

Yes.

But it's not 'simple'

whroeder1
16058
whroeder1  

By not simple he means you must take care of:

  1. Unless the current chart is the specific pair/TF referenced, you must handle 4066/4073 errors.
  2. Don't mix apples and oranges.
  3. Make sure you have actually have history. Don't add what you don't have and don't count it for the divide.
  4. Assuming you are on the M15, which M1 value are you going to use? First, last, average?
Mladen Rakic
62820
Mladen Rakic  
kcheeb:

I want to know if its possible to make this simple custom oscillator where


1. Add stochastic + williams %R for current time frame (-100 to +100 oscillator)

2. Add stochastic + williams %R for M1, M5, M15, M30, H1, H4, D1, W1 times frames, total divided by 8 (also results in -100 to +100 oscillator)

Why do you want to use stochastic AND %R

Stochastic with slowing set to 1 using high/low for price minus 100 is exactly the same as %R. Thanks to Larry Williams that renamed "raw" stochastic to Williams % range (and that is not the only thing he stole) - but you are going to look at two times exactly the same thing

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