Indicators: WPR with Bollinger bands

 

WPR with Bollinger bands:

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.

Author: Mladen Rakic

 
Make Zero level corrrect - your indicator all time in Munus
 
Hi Mladen, I wonder if there was indicator of Momentum with Bollinger Bands.
 
Alex Renko #:
Make Zero level corrrect - your indicator all time in Munus
Check how WPR is calculated and what range of values it produces : Williams %R: Definition, Formula, Uses, and Limitations.

All the best