Williams %R

Williams %R, created by Larry Williams, is a momentum oscillator that measures where the close sits relative to the recent high-low range, scaled from 0 (at the highs) to −100 (at the lows). It is closely related to the stochastic oscillator.

Readings above −20 are considered overbought and below −80 oversold. Because it is fast and sensitive, %R is often used for timing within a trend rather than as a standalone reversal signal, and works best with a trend filter.

• ▸Overbought/oversold: time entries from the −20/−80 zones.
• ▸Trend timing: buy oversold readings in an uptrend.
• ▸Failure swings and divergence: early reversal hints.
• ▸Confirmation: pair with structure or a moving average.

Algovex provides Williams %R as a node, combine it with a trend filter, backtest the rules, and export. No code needed.