Williams %R, WPR, or just %R, is a technical analysis oscillator showing the current closing price in relation to the high and low of the past N days (for a given N). It was developed by a publisher and promoter of trading materials, Larry Williams. Its purpose is to tell whether a stock or commodity market is trading near the high or the low, or somewhere in between, of its recent trading range.
The oscillator is on a negative scale, from −100 (lowest) up to 0 (highest), obverse of the more common 0 to 100 scale found in many Technical Analysis oscillators. A value of −100 means the close today was the lowest low of the past N days, and 0 means today's close was the highest high of the past N days. (Although sometimes the %R is adjusted by adding 100.)
This version of Williams Percent Range has an addition of Bollinger bands to help identify possible overbought and oversold levels breaks.
Indicator based on the Daryl Guppy's original strategy.Volatility Bands Percent
This is the version that David Rooke proposes as a solution to Bollinger Bands issues in a percent representation.