ASCTrend Signals from Williams Percent Range Threshold Crossings

Summary

ASCTrend is a chart indicator that uses Williams Percent Range to generate buy and sell arrows. Its RISK setting controls the indicator period and shifts the thresholds used to identify signals. A signal is produced when the indicator moves from an intermediate zone into an extreme zone; the source describes sell signals after a move below the lower threshold and buy signals after a move above the upper threshold. The CountBars setting controls how much historical chart data is processed.

The implementation also estimates recent bar ranges and checks for large gaps or price moves, adjusting the lookback used for the Williams calculation. These filters aim to reduce repeated signals and signals around peaks or gaps. The document provides indicator logic and platform-specific code, but no backtest, performance statistics, markets, or timeframe evidence. The stated thresholds and filtering rules therefore define a technical signal recipe, not evidence of profitability or robustness.

Key ideas

• ASCTrend derives chart signals from Williams Percent Range values and threshold crossings.
• The RISK parameter changes both the Williams calculation period and the signal thresholds.
• The indicator checks recent price ranges and large moves when filtering signals.
• CountBars controls how many historical bars are processed for plotted signals.
• The document gives implementation details but no evidence about trading performance or suitable markets.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.