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.

WilliamsADLine1

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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Calculation

//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;