perc_r

Function Name: perc_r

Tags: None

Category: Momentum

The Williams Percent R indicator shows the relationship between the current Close and the trading range over the look back period. The values are then treated as an overbought/oversold indicator.

It can be used to indicate when to buy on troughs in bull markets and sell on rallies in bear markets. In general, this indicator can help you take advantage of shorter-term counter trend moves occurring within longer-term trends as well as indicate the best time to exit or enter a market.

An oversold market is believed to occur when the William's Percent R line is less than the BuyZone line. Conversely, an overbought market is believed to occur when the Percent R line is greater than the SellZone line.

 

Link: http://www.onlinetradingconcepts.com/TechnicalAnalysis/WilliamsR.html

 

period
	Default Value: 14  |  Minimum: 1  |  Maximum: 9999
	Type: Numeric
upperLevel
	Default Value: -20  |  Minimum: -100  |  Maximum: 0
	Type: Numeric
lowerLevel
	Default Value: -80  |  Minimum: -100  |  Maximum: 0
	Type: Numeric