TomPip

Williams %R III Pivots

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This script uses three lengths of Williams %R , calculates a bunch of averages and distances, highs and lows to determine pivots points. Lengths are currently optimised for 30m GER30 .
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study(title="Williams %R III Pivots", shorttitle="%RIIIP")
// Williams %R slow
length1 = input(48, minval=1)
upper1 = highest(length1)
lower1 = lowest(length1)
out1 = 100 * (close - upper1) / (upper1 - lower1) + 100
// Williams %R medium
length2 = input(240, minval=1)
upper2 = highest(length2)
lower2 = lowest(length2)
out2 = 100 * (close - upper2) / (upper2 - lower2) + 100
// Williams %R slow
length3 = input(960, minval=1)
upper3 = highest(length3)
lower3 = lowest(length3)
out3 = 100 * (close - upper3) / (upper3 - lower3) + 100

avg_out = (out1+out2+out3)/3
avg_dist=(abs(out1-out2)+abs(out1-out3)+abs(out2-out3))/3
sma_dist=sma(avg_dist,14)
sma_out=sma(avg_out,14)
act=abs(sma_out-sma_dist) 
pivot_length=30
upBound = highest(act, pivot_length)
downBound = lowest(act, pivot_length)


plot(sma_dist, color=#00FF00, linewidth=2)
plot(sma_out, color=#FF0000, linewidth=2)
plot(act, color=black, linewidth=2)
plot((upBound == act[1] and upBound != act and abs(act-sma_out)<20 and act > 60) ? act : na, style = cross, linewidth = 2, color=#FF0000)
plot((downBound == act[1] and downBound != act and act < sma_dist and act < 15) ? act : na, style = cross, linewidth = 2, color=#00FF00)
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