WilliamsPercentR

Description

The Williams Percent R is a lower study. It is a momentum indicator that is designed to identify overbought and oversold areas in a non-trending market. The Williams Percent R can be interpreted similarly to the Stochastic oscillators but the Williams Percent R is simply plotted upside-down. Readings in the range of -80 to -100% may indicate that the security is oversold while readings in the 0 to -20% range suggest that it is overbought.

Input Parameters

Parameter Description
length The number of bars used to calculate the Williams Percent R.
over bought The level at which you wish to see the overbought line placed.
over sold The level at which you wish to see the oversold line placed.

Plots

Plot Description
WR Displays calculated Williams Percent R line.
Over_Sold Displays overSold input parameter.
Over_Bought Displays overBought input parameter.

Example*

*For illustrative purposes only. Not a recommendation of a specific security or investment strategy.

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