Williams' %R

Williams’ Percent Range, Williams’ %R is a technical indicator which helps identify overbought or oversold conditions in the market and give divergence signals indicating a market reversal.

The indicator calculation formula is similar to the one used in the Stochastic Oscillator. Mathematically, Williams' %R is the ratio between the difference between the high and the closing price, and the «high-low» range for a certain period, multiplied by -100. Period = 14 is considered optimal, but this parameter can be adjusted depending on the instrument.

%R = (max(High(n)) — Close(t)) / (max(High(n)) — min(Low(n)))

Thus, the indicator values are in the negative zone, in the range from 0 to 100. The overbought zone is the values from 20 to 0, and the oversold zone is the values from 100 to 80. For convenience and clarity, the indicator has a value reversal function.

The indicator view in the chart.

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The indicator has the following parameters:

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Period - setting of the indicator calculation period.

Invert Output - display inverse values in the chart.


Panel/Moving average period - selection of the indicator location in the chart:

  • New panel
  • Chart


Show value - display of the indicator value on the price scale on the left.

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

Color - color setting of the indicator.

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:

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

Width - setting of the indicator line width.

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