Williams % R (WillR)
The %R indicator was developed by Larry Williams and introduced in his 1979 book How I Made $1,000,000 Trading Commodities Last Year.Williams %R is similar to a stochastic oscillator, as it normalizes price as a percentage between 0 and 100. It is basically an inverted version of the ‘Raw %K’ value of a Fast Stochastic.
%R = -100 * ( ( Highest High - Close) / ( Highest High - Lowest Low ) )
- Close = the current closing price
- Highest High = the highest high in the past n periods
- Lowest Low = the lowest low in the past n periods