MetaTrader 5 ‣ MT5 Indicators ‣ WILL_VAL – indicator MetaTrader 5
WILL_VAL - indicator for MetaTrader 5

WILL_VAL – indicator MetaTrader 5

by

Larry Williams’ WILL VAL oscillator.

It has six input parameters:

  • Instrument – instrument name, relative to which the calculation is made
  • First EMA period – first exponential smoothing period
  • Second EMA period – second exponential smoothing period
  • Period – indicator calculation period
  • Overbought – overbought level
  • Oversold – oversold level

Calculation:

WV = 100.0 * (Value - Min) / (Max-Min)

where:

Value = MA1-MA2
MA1 - EMA(Price, First EMA period)
MA2 - EMA(Price, Second EMA period)
Max, Min - maximum and minimum 'Value' values in the Period range
Price = Close(Current Instrument) / Close(Instrument)

Keep in mind that the indicator needs to upload history data of a selected instrument during the first launch or when changing ‘Instrument’. If the re-drawing does not occur quickly or the indicator is displayed incorrectly, simply switch the chart timeframe to accelerate the process and obtain a correct display.

Alternative:   MurreyMathFixPeriod - indicator MetaTrader 5

Fig. 1. Calculation relative to EURJPY



Fig. 2. Calculation relative to XAUDUSD


Fig. 3. Calculation relative to USDRUB


WILL_VAL – indicator MetaTrader 5
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