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Momentum
Williams %R
%RMeasures where the close falls relative to the highest high over N periods on a –100 to 0 scale. Above –20 signals overbought; below –80 signals oversold. It is the inverse of the Stochastic %K.
Tips
Williams %R pinned at 0 or -100 for several bars often indicates strong momentum rather than an imminent reversal
Pair %R with a trend indicator; only take oversold buy signals when the trend is up and overbought sell signals when the trend is down
Parameters
Period
2 - 100