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.