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Williams %R

What is Williams %R?​

Williams %R (Williams Percent Range), created by Larry Williams, is a momentum oscillator that measures how close the current price is to the highest high over a chosen lookback period.

It moves between 0 and -100, helping traders identify:

  • Overbought zones (0 to -20)
  • Oversold zones (-80 to -100)
  • Momentum shifts and potential trend reversals

Unlike RSI, which moves upward when price increases, Williams %R is inverted—higher momentum moves the value closer to 0.

How to Add Williams %R?​

  1. Click on the "+" button in the Indicators section.
  2. Select Williams %R.
  3. Choose the data source containing OHLC values.
  4. Configure the Length, Time Frame, and Offset.
  5. Click "Add" to save the indicator.

Configurable Parameters in Williams %R​

1. On Data (Source Selection)​

  • Williams %R uses High, Low, and Close values.
  • Select the appropriate OHLC source if multiple datasets exist.
  • If none is selected, the system uses the default Candle Data.

2. Time Frame​

  • Defines the timeframe used for Williams %R calculation.
  • Example: Setting 15 calculates %R using 15-minute candles.

3. Length​

  • Determines how many candles are used to measure the highest high and lowest low.
  • The common default is 14 periods.

When Length is Set Very Low (e.g., 2)​

In universal, simple language:

  • A very small length makes Williams %R extremely reactive.
  • With a length of 2, the indicator asks: “Where is the current close compared to the last two candles’ high and low?”
  • This creates very fast oscillations, jumping between overbought and oversold zones.

In short: short length = hypersensitive, rapid swings, more noise.

4. Offset​

  • Shifts the Williams %R line forward or backward for visual alignment.

Offset Guide:

  • Positive Offset → shifts %R forward
  • Negative Offset → shifts %R backward

Applying Williams %R on Other Candle Types​

Williams %R works with any OHLC dataset.

Example

Apply Williams %R to Heikin-Ashi, Renko, or Range Bar candles for momentum analysis in alternative chart formats.

Element Name​

Each Williams %R indicator receives a unique Element Name, making it easy to reference in strategy conditions and actions.

Use Cases for Williams %R​

  • Overbought/Oversold Detection
    → 0 to -20 = overbought, -80 to -100 = oversold.

  • Momentum Shifts
    → Moves toward 0 indicate strengthening momentum; moves toward -100 indicate weakening.

  • Early Reversal Signals
    → Sharp reversals from extremes may signal turning points.

  • Trend Confirmation
    → Staying in the same zone (overbought/oversold) during strong trends.

Next Steps​

✅ Add Williams %R to your strategy
✅ Use it for momentum reversal or overbought/oversold setups
✅ Combine %R with RSI, CCI, or MACD for confirmation
✅ Use %R levels in Conditions & Actions