Larry Williams "Pro-Go" Indicator for ThinkorSwim

BenTen

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This script is based on the Pro-Go indicator that Larry Williams came up with.

The formula is fairly simple.

Close - Open = Professionals
Previous' Close - Open = Novices

He then averages out with a simple moving average (length of 14).

T2yhp2o.png


Code:
# Larry Williams Pro-Go
# Assembled by BenTen at UseThinkScript.com
# Converted from https://www.tradingview.com/script/R9iKLUAp-Public-Pro-Action/

declare lower;

input averageLength = 14;
input paintbar = no;

def public = close[1] - open;
def pro =  close - open;

def avg_public = simpleMovingAvg(public, averageLength);
def avg_pro = simpleMovingAvg(pro, averageLength);
def res = avg_pro - avg_public;
def priceSMA = simpleMovingAvg(close, averageLength);

plot pu = avg_public;
plot pr = avg_pro;

pu.AssignValueColor(color.red);
pr.AssignValueColor(color.green);

def condition1 = pu > pr;

assignPriceColor(if paintbar and condition1 then color.red else if paintbar and !condition1 then color.green else color.current);

Credit: bharatTrader
 
@barbaros Good point. I'm not sure either. I just converted it from the original code on TradingView.
 
@barbaros Good point. I'm not sure either. I just converted it from the original code on TradingView.
Here is my attempt...

Python:
# Larry Williams Pro-Go
# Assembled by BenTen at UseThinkScript.com
# Updated by Barbaros 20201105
# Converted from https://www.tradingview.com/script/R9iKLUAp-Public-Pro-Action/

declare lower;

input averageLength = 14;
input advancedMode = yes;
input paintBars = yes;

def public = close[1] - open;
def pro =  close - open;

def avg_public = SimpleMovingAvg(public, averageLength);
def avg_pro = SimpleMovingAvg(pro, averageLength);
def res = avg_pro - avg_public;
def priceSMA = SimpleMovingAvg(close, averageLength);

plot public_val = if advancedMode then avg_public else Double.NaN;
public_val.setDefaultColor(color.red);

plot pro_val = if advancedMode then avg_pro else Double.NaN;
pro_val.setDefaultColor(color.green);

plot advanced_val = if !advancedMode then res else Double.NaN;
advanced_val.setPaintingStrategy(PaintingStrategy.HISTOGRAM);
advanced_val.assignValueColor(
    if close > priceSMA and res > 0 then color.green
    else if close < priceSMA and res < 0 then color.red
    else color.gray
);

AssignPriceColor(
    if paintBars and close > priceSMA and res > 0 then color.green
    else if paintBars and close < priceSMA and res < 0 then color.red
    else if paintBars then color.gray
    else color.CURRENT
);

Advanced:

9WZRxjQ.png


Not so advanced:
HAogcyS.png


WEgtId8.png
 
Last edited by a moderator:
I love L Williams stuff. I have on my to do list to recreate the COT report for TOS since he constantly references it in his books
 
Larry Williams has a professional vs public buying called ProGo. Would anyone be able to convert the TradeStation code below:
 
Last edited by a moderator:
@anty Here you go.

Code:
#Larry Williams Pro Go
#coded by DVRL, Optntdr13, daryanlenzatgmaildotcom from tradestation code
#Copyright Optntdr13, all rights reserved.
#V1:  02/19/2011
#
#
#


declare lower;
#hint Length: Number of periods to average the data.
Input Length = 14;
input movingAverageType = {default "Simple MA", "Exponential MA", "Wilders Smoothing", "Weighted MA", "Hull MA", "Adaptive MA", "Triangular MA", "Variable MA", "Dema MA", "Tema MA"};
input displace = 0;



def Pros = Close - Open;
def Public = Close[1] - Open;



plot X;                 
plot Y;
switch (movingAverageType)  {
case "Simple MA":
 X = Average(Pros[-displace],Length);
 Y = Average(Public[-displace],Length);
case "Exponential MA":
  X = ExpAverage(Pros[-displace], Length);
  Y = ExpAverage(Public[-displace],Length);
case "Wilders Smoothing":
  X = wildersSmoothing(Pros[-displace], Length);
  Y = WildersAverage(Public[-displace],Length);
case "Weighted MA":
 X = wma(Pros[-displace], Length);
 Y = wma(Public[-displace],Length);
case "Hull MA":
 X = hullMovingAvg(Pros[-displace], Length);
 Y = hullMovingAvg(Public[-displace],Length);
case "Adaptive MA":
 X = MovAvgAdaptive(Pros[-displace], Length);
 Y = MovAvgAdaptive(Public[-displace],Length);
case "Triangular MA":
 X = MovAvgTriangular(Pros[-displace], Length);
 Y = MovAvgTriangular(Public[-displace],Length);
case "Variable MA":
 X = VariableMA(Pros[-displace], Length);
 Y = VariableMA(Public[-displace],Length);
case "Dema MA":
 X = DEMA(Pros[-displace], Length);
 Y = DEMA(Public[-displace],Length);
case "Tema MA":
 X = Tema(Pros[-displace], Length);
 Y = Tema(Public[-displace],Length);
}

x.SetDefaultColor(CreateColor(188, 0, 240));
y.SetDefaultColor(CreateColor(29,239,255));
def ProsBuying = if x > y then x else y;
def ProsSelling = x < y;

addcloud(x, y, (color.GREEN), (color.RED));

plot zerobase = 0;
 
So I have a quick question the Pro Go indicator is set to (14) but at times it would give an early signal then cross back down or above. I wanted to know is there a good parameter o can set it to. Like (30), (50) (100) etc that would be good for time frames of 5day 1-4 hours, 20Day 1-4 hour, 30day 1-4 hours or 3months 1Day or 1month 1day?
 
Last edited by a moderator:
I use it with STD (Stabdard deviation channel) because I noticed that too but do you have something that’s a good trigger for 1M 1D chart. I use STD for support and resistance and now I just need a trigger to let me know when I should enter per timing. But it’s like nothing works can someone help me with a good oscillator or w.e because pro go alone is not working. I can use what yours but will it work with STD?
Use an RSI with the Pro-Go.
 
🤔 how didn’t I think of that the whole time. Also for the daily chart keep the standard parameters for the RSI (14)?
Or use MACD---Stochastics......something you can look at and instantly understand what's taking place, an instant confirmation. look at a bigger picture first, weekly......
 
So I have a quick question the Pro Go indicator is set to (14) but at times it would give an early signal then cross back down or above. I wanted to know is there a good parameter o can set it to. Like (30), (50) (100) etc that would be good for time frames of 5day 1-4 hours, 20Day 1-4 hour, 30day 1-4 hours or 3months 1Day or 1month 1day?
I have watched Jake Bernstein use 57 on the Daily

I'm sorry. I still hang with the ol geezers like myself. He has done stocks and futures for decades.

He is one of the first to use Seasonals to identify trends.

Chris Moody did many of his indicators at one time (i dont think they work together any more) but I cannot complain about his analysis.

He is old, but he is the last of men with integrity-imho.

I have not heard much criticism about him, but I am always open. He has not compromised like the others trying to get rich before they die off. i.e. men like Pesavento moving from harmonics to Jean Dixon style analysis.


He is going to be doing another Wealth Charts 365 coming up. I most definitely dont promote Wealth Charts having tried the Hoffman platform, but Jake shows trades he is going to take in the future. So you can look for that.

He also wrote a book called Cycles of profit that you can look for. Interesting book that covers the repeat of cycles.

If you use TradingView, he has an indicator you can use for free . Type in Jake Bernstein.

His seasonal website is https://seasonaltrader.com/contact.aspx

He has a free one month trial. I am not affiliated with him in any way, shape or form. I have always benefited from his research.
 
Last edited by a moderator:
One thing for sure is this...When I used the 57 on the 6-month daily, it clearly provided when dips should get bought and when rips should get sold, as when an appropriate oscillator is used in conjunction.
 
One thing for sure is this...When I used the 57 on the 6-month daily, it clearly provided when dips should get bought and when rips should get sold, as when an appropriate oscillator is used in conjunction.
Okay but what would the parameters be if I use a 1month 1 day chart and which oscillator should be used?
 

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