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How to access the studies in MotiveWave:

Go to the top menu, choose Study>Study Group>Study Name

or Go to the top menu, choose Study>All Studies> Start typing in the study name until you see it appear in the list> Click on the study name> Click OK.

Wallaby

The Wallaby was authored by Rob Booker. The Wallaby shows the Slow Stochastic oscillator for three different time frames, all in one area. The user may change the period lengths and time frames

See also Stochastic Oscillator

How To Trade Using Wallaby

No trading signals are calculated for this indicator.

Calculation

//kPeriod = user defined, default is 14 //dPeriod = user defined, default is 3 //timeFrame1 = user defined, default is 15 min. //timeFrame2 = user defined, default is 30 min. //timeFrame3 = user defined, default is 1 hour. //index = current bar number

Code may be available on request

WAMI

The WAMI was authored by Anthony W. Warren in the Stocks and Commodities Magazine,09/94. The WAMI uses the difference of the current price and the previous price and a couple of moving average methods to conclude its oscillator calculation. The user may change the input (close), methods (WMA,EMA) and period lengths. This indicator’s definition is further expressed in the condensed code given in the calculation below.

How To Trade Using WAMI

The WAMI may be used in conjunction with other studies. No trading signals are calculated for this indicator.

Calculation

//input = price, user defined, default is closing price //method1 = moving average (ma), user defined, default is WMA //method2 = moving average (ma), user defined, default is EMA //period1 = user defined, default is 4 //period2 = user defined, default is 13 //period3 = user defined, default is 13 //prev = previous, index = current bar number

prevP = price[index-1];
diff = price - prevP;
ma1 = ma(method1, index, period1, diff);
ma2 = ma(method2, index, period2, ma1);
Plot: wami = ma(method2, index, period3, ma2);

Weighted Moving Average (WMA)

The Weighted Moving Average (WMA) gives recent price bars a higher weighting over older price bars. The user may change the input (close), period length and shift number. This indicator’s definition is further expressed in the condensed code given in the calculation below.

Click here for more information.

How To Trade Using the Weighted Moving Average

The Weighted Moving Average is a lagging trend indicator and may be used in conjunction with other studies. No trading signals are calculated.

Calculation

//input = price, user defined, default is close //period = user defined, default is 20 //shift = user defined, default is 0 //wma = weighted moving average //index = current bar number

Plot: wma = wma(index+shift, input, period);

Wilders Moving Average (WILD)

Wilders Moving Average (WILD) was authored by Welles Wilder. The WILD factors the price, period and feedback from its former value, to fulfill its final calculation. The user may change the input (close) and period length. This indicator’s definition is further expressed in the condensed code given in the calculation below.

How To Trade Using Wilders Moving Average

The Wilders Moving Average is a trend indicator and may be used in conjunction with other studies. No trading signals are calculated.

Calculation

//input = price, user defined, default is close //period = user defined, default is 22 //prev = previous, def = default value //sma = simple moving average //index = current bar number, def = default value

k = 1 / period;
def = sma(index, period, input);
prevW = ifNull(def, wild[index-1]);  //feedback component
Plot: wild = price * k + prevW * (1 - k);

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.

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;

Williams %R

The Williams %R (WR) was developed by Larry Willams. WR is a momentum indicator that shows the current closing price in relation to the highest and lowest price of the past N days. The user may change the period length. This indicator’s definition is further expressed in the condensed code given in the calculation below. Click here for more information.

How To Trade Using Williams %R

The WR is a momentum indicator. Adjust the top and bottom guides to control the quantity and quality of the trading signals. If the WR crosses above the top guide, a sell signal will be generated. Conversely, a buy signal will be given if the WR crosses below the bottom guide.

Calculation

//period = user defined, default is 14 //index = current bar number

// Find the highest high and lowest low over the period
highest = highest(index, period, HIGH);
lowest = lowest(index, period, LOW);
WR = ((high - close) / (high - low)) * (-100);
// Signals
buy = crossedAbove(WR, topGuide);
sell = crossedBelow(WR, bottomGuide);