Williams Trend EA

Williams Trend EA is an automated Expert Advisor uses a combo indicator: Awesome Oscillator & Williams Percent Range

1. Awesome Oscillator Indicator

If you have a basic understanding of math, you can sort out the awesome oscillator equation. The formula compares two moving averages, one short-term and one long-term. Comparing two different time periods is pretty common for a number of technical indicators.

The one twist the awesome oscillator adds to the mix, is that the moving averages are calculated using the mid-point of the candlestick instead of the close.

The fact Bill saw the need to go with the mid-point, well is a bit awesome.

Fast Period = (Simple Moving Average (Highest Price + Lowest Price)/2, x periods)

Slow Period = (Simple Moving Average (Highest Price + Lowest Price)/2, x periods)

Awesome Oscillator = Fast Period – Slow Period

2. Williams Percent Range indicator

This is the second article in our Williams Percent Range series. If you haven’t already we suggest that you check out the first article about the Williams Percent Range Indicator. In that article, we covered the background of the Williams Percent Range indicator, how it is calculated, and how it looks on a chart. The Williams Percent Range indicator is uncanny in its ability to signal a reversal one to two periods ahead of reality. Traders use the indicator to determine overbought and oversold conditions and reversals in market trends.

The Williams Percent Range indicator is classified as an “oscillator” since the values fluctuate between zero and “-100”. The indicator chart typically has lines drawn at both the “-20” and “-80” values as warning signals. Values between “-80” and “-100” are interpreted as a strong oversold condition, or “selling” signal, and between “-20” and “0.0”, as a strong overbought condition, or “buying” signal.