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On Chart Williams Percent Range

This is a variation of Williams' Percent Range indicator which draws high/low/mid range and overbought/oversold levels directly on the chart, where the last candle Close price corresponds to the %R value.

Advantage of this representation is that it is possible to see exact extremum reaches by price (0 and -100 levels) and current price value in regards to overbought/oversold conditions.

In addition, this indicator allows tracking price action on a different timeframe (for example, see the price levels of %R calculation for a D1 data while on H1 or M15 timeframe) and/or for a specific time interval (for example, from 2013.10.15 to 2015.05.11). This can be achieved by specifying calculation timeframe, start date and end date explicitly. Other customizations include calculation period and overbought/oversold levels.


Indicator parameters:

  • PeriodCandles - The number of candles to use in calculation. The minimum allowed value is 2. The default value is 10.
  • OverboughLevel - The value of overbought level used to draw the overbought line. Allowed values are in range from -100 to 0. The default value is -20.
  • OversoldLevel - The value of oversold level used to draw the oversold line. Allowed values are in range from -100 to 0. The default value is -80.
  • CalculationTimeFrame - The timeframe to use in calculation. Allowed values range from M1 to MN1 and Undefined. Undefined will use the currently selected timeframe. The default value is Undefined.
  • StartDateSpecified - Defines if StartDate parameter is to be used in calculation. The default value is false.
  • StartDate - The start date of a specific time interval to use in calculation. Allowed values are in range from 1970.01.01 00:00 to current time. The default value is 1970.01.01 00:00.
  • EndDateSpecified - Defines if EndDate parameter is to be used in calculation. The default value is false.
  • EndDate - The end date of a specific time interval to use in calculation. Allowed values are in range from 1970.01.01 00:00 to current time. The default value is 1970.01.01 00:00.
  • MaxCandlesInHistory - The maximum number of candles to draw the indicator levels. The default value is 10000.
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