Greeting Colleagues Today I share The Wlliams %R Extras= - 5 diferent length - 1 extra signal with the technique used in the ultimate oscillator - Fibo Leves based on ob os leves "width it's automatic" - Colored bars bassed en average strength - The indicator that is modified now has the same range as the ultimate oscillator.
Enjoy [;-)
//The Williams %R (%R) indicator was created by famed commodities trader and author Larry Williams. // //Calculation //%R = (CurrentClose - Highest High) / (Highest High - Lowest Low) x -100 // //Highest High = Highest High for the user defined look-back period. //Lowest Low = Lowest Low for the user defined look-back period. // //The basics //As previously mentioned, the %R is used to measure momentum. %R oscillates //within a fixed range between the values of 0 and -100. Williams himself set the //parameters of overbought as any reading between 0 and -20. His oversold //parameters were readings between -80 and -100. It is important to note that these //values are traditional examples. It may be beneficial for the technical analyst //to set different parameters based on the specific instrument being analyzed. Wider //or narrower overbought and oversold levels may be appropriate based on historical analysis. // //What to look for //There are two major conditions identified by using the %R indicator. //The first is standard overbought and oversold conditions. The second is momentum //changes characterized by momentum failures. // //Overbought/Oversold //Overbought and Oversold conditions are a very common signal generated by momentum oscillators. //The %R indicator is no different.
版本注释
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Minor changes
版本注释
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Added butterfly color rules to plots Added switch to hide parcels
版本注释
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Minor changes
版本注释
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Added black background for use in the white charts