Bill Williams Moving Average

Bill Williams Moving Average technical indicator shows the average price value of an instrument for a certain time period. In contrast to Simple Moving Average there is no mathematical averaging of the instrument price for a given period of time. Only the current price value and the previous indicator value are used in the calculation.

The indicator is calculated according to the formula:

BWMA(t) = (1-1/N)*BWMA(t-1)+CLOSE(t)/N

How the indicator looks like in the chart:

Image 26033

The indicator has the following parameters:

Image 26034


Period - sets the indicator period.


Source - setting of the indicator calculation parameters:

  • Open
  • High
  • Low
  • Close
  • Volume



Panel - selection of the indicator location in the chart:

  • New panel
  • Chart

Show value - shows the indicator value on the price scale.

Show zero values - shows zero values.

Scale - if this option is ON, the scale will be calculated automatically based on the minimum and maximum indicator values, so that the indicator would be accommodated in the chart.


Visual type - visual setting of the indicator display in the chart:

  • Line
  • Histogram
  • Hash
  • Block
  • Cross
  • Square
  • Dots
  • Up arrow
  • Down arrow
  • Axis label
  • Hide

Line style - setting of the line display style:

  • Dot
  • Solid
  • Dash
  • Dash - dot
  • Dash - dot - dot

Width - setting of the indicator line width.

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