Williams AD Line
The Williams AD Line (WADL) was authored by Larry Williams. The WADL is the sum, of the positive (accumulated) or the negative (distributed) price movements, multiplied by the current volume, plus some feedback. Some versions of this indicator do not use volume in the calculations. The user may change the use volume switch. This indicator’s definition is further expressed in the condensed code given in the calculation below.
How To Trade Using Williams AD Line
This study may be used in conjunction with other indicators. No signals are calculated.
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//useVol = default is true
//index = current bar number
prevClose = close[index-1]; trHigh = max(high, prevClose); trLow = min(low, prevClose); priceMove = 0.0; if (close moreThan prevClose) priceMove = close - trLow; endIf if (close lessThan prevClose) priceMove = close - trHigh; endIf if (close == prevClose) priceMove = 0.0; endIf prevWadl = WADL[index-1]; wadl = 0.0; wadl = priceMove + prevWadl; if (useVol) wadl = (priceMove * vol) + prevWadl; endIf Plot wadl;