Larry Williams Variable Cumulative Distribution (WVAD) Indicator - MetaTrader 5 Script - MT4/MT5 Resources

Although there is no volume information for Forex on major currency pairs, one of the most common indicators that provides this information is the Williams Variable Accumulation Distribution, or WVAD for short.

Its basic mathematical definition is:

While the (Close-Open) signal represents direction (positive for an uptrend, negative for a downtrend), it quantifies the volume required to actually move the price, moving it.

The program was abandoned in the late 1970s due to implementation difficulties.

If volume information is not available, the indicator reverts to the ratio of open-close to high-low. "Ask" > "Bid" is also included in the ticker because it becomes more reliable for other instruments where limit orders can be placed before the market opens, sometimes resulting in the ask being greater than the bid (for example, WDO/DOL futures at BMF Bovespa in Brazil).

In this version it calculates the current bar in the current time frame.

The basic code formula is:

 ((Closing Price[i] - Opening Price[i])/(Highest Price[i] - Lowest Price[i]))*(Trading Volume[i])

Attachment download

📎 iwvad.mq5 (2.32 KB)

Source: MQL5 #23467