| Williams PRO-GO Indicator
This indicator has two lines. The Public Buying (green line) at the
beginning of the day and the Professional Buying (red line) at the
end of the day.
This technique is to create two Advance/Decline lines.
- The Public Advance/Decline line is constructed by using the change
from yesterday's closes to today's open.
- The professional Advance/decline line is constructed by using the change
from today's open to today's close.
The lines are calculated by taking a moving average, normally 14-days, of the results.
This study is only for daily charts and can be used to highlight divergences between the
Professional Advance/Decline (red line) and the price.
The common interpretation of this study is if the
Professional line (red) goes below the Public line (green) it is a sell signal
and if the Professional line (red) goes above the Public line (green) it is a buy signal.
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