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(REQ) Larry Williams' WVAD mt 4 indicator


Hi, interested in this indicator, but cannot find in the Net, any programmer can code a mt4 indicator according to the following information and formula of WVAD, (source from the book of "The Encyclopedia of Technical
Market Indicators
Robert W. Colby,) Many Many thanks. :)

information & formula:

Volume: Williams? Variable Accumulation Distribution (WVAD)
Williams? Variable Accumulation Distribution (WVAD) is a volume-weighted price
momentum indicator, developed by Larry Williams. WVAD is based on the idea that
the best measure of a day?s buying power and selling pressure is dependent on the relationship
between the number of points that the market has moved from its opening
price to its closing price for the day. Specifically, it is calculated and interpreted in six
1. Subtract the opening price from the closing price. Respect the sign, plus or
2. Divide that difference (from Step 1) by the difference of the high minus the
3. Multiply that ratio (from Step 2) by the volume.
4. Average that product (from Step 3) over a moving window of n-days of time.
5. If the moving average (from Step 4) is positive, net buying pressure is dominant
so a long position is initiated.
6. If the moving average (from Step 4) is negative, net selling pressure is dominant
so a short position is initiated.
Mathematically, Steps 1 through 3 of the WVAD formula can be expressed as:
WVAD ( ((C-O) / (H L)) * V )
C the current period?s closing price.
O the current period?s opening price.
H the current period?s high price.
L the current period?s low price.
V the current period?s volume.
For example, if the current day?s opening price was 175, the high was 180, the
low was 160, the close was 165, and the volume was 2000 shares, then:
WVAD( ((165-175)/(180-160)) * 2000) 1000
In Step 4, for a 4-period WVAD, for example, this 1000 would become an input
for a 4-day moving average.
In our independent Indicator Strategy testing, this indicator underperformed a
passive buy-and-hold strategy. As the chart of the S&P Depositary Receipts shows,
such a cumulative WVAD indicator peaked out on April 3, 1998, which was too early
for practical trading purposes. It appears that Williams? success depends on his good
judgement based on his long experience, rather than on any simple, mechanical interpretation
of this indicator.

The Equis International MetaStock? Indicator Builder Dialog for a cummulative
WVAD indicator may be written: Cum(((C-O)/(H-L))*V).
The Equis International MetaStock? System Testing rules may be written as
Enter long: Mov(((C-O)/(H-L))*V,opt1,E) > 0
Close long: Mov(((C-O)/(H-L))*V,opt1,E) < 0
Enter short: Mov(((C-O)/(H-L))*V,opt1,E) < 0
Close short: Mov(((C-O)/(H-L))*V,opt1,E) > 0
OPT1 Current value: 4

book code (page 782-783):


Here it is WVAD

Here it is WVAD

Hi annbeea,

I just saw your post (even though it's over a year ago) and if you still need the indicator I've written it for you and others who may be interested.
I hope I've done it right it looks O.K.



  • WVAD.mq4
    1.4 KB · Views: 13


Newer one with an option to show as a histogram

Newer one with an option to show as a histogram

Here I've added an optional setting to show as a color histogram.




  • WVAD.mq4
    1.9 KB · Views: 5

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