WilliamR

Creator: Larry Williams

William % R is a momentum indicator.

1 – William % R indicator

2 – Average line of the William % R

The indicator has an inverse and negative scale. The William %R indicator moves between 0 and -100.

William % R above -20 indicates that the market is overbought. An oversold reading below -80 indicates that the market is oversold.

When the indicator is between -20 and zero, the price is considered overbought, or near its recent highs. The price is oversold when the indicator is between -80 and -100, or when it is far from its recent high.

The indicator table value in TradePoint & RZone also provides you with a list of all values of this indicator for any group of stocks. This will allow you to compare the readings of this indicator across different stocks.

This indicator is also available in the System Builder of RZone & TradePoint for all charting methods. Using the system builder, you can develop various strategies based on the different conditions already present in this indicator. Additionally, it can be used with other indicators or price patterns to develop effective trading strategies. For any group of stocks and market segments, you can scan and backtest stocks based on those strategies.

The indicator is applicable to all types of charting. Calculated based on the number of columns on P&F charts, bricks on Renko charts, lines on Line-break charts, candles on Heikin ashi charts, and lines on Kagi charts. While the formula and reading of the indicators remain the same, they become more dynamic on these charts.