Williams % Range

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This indicator was created by Larry Williams in order to indicate the oversold and overbought levels. The indicator is very similar to stochastic %K – except that Williams %R is plotted using negative values ranging from 0 to -100. Overbought and Oversold levels are normally set at -20 and -80. The basic signal of buy or sell stop is when Williams % Range falls below the oversold line (buy stop) or overbought (sell stop).