Definition
Momentum oscillator placing the close within the high-low range over N bars, on a −100 to 0 scale. Above −20 is overbought, below −80 oversold.
Parameters
Asset, Lookback period (14)
Output range: −100 to 0
Example condition
`WilliamsR(AAPL, 14) < -80` (Oversold)Usage notes
Faster and choppier than Stochastic — confirm with a second signal before trading %R extremes.
Use in a strategy
Add this indicator to a strategy condition, choose its supported parameters and compare the output with the threshold required by your rule. Preserve the same interval and lookback when comparing backtests.
After saving the condition, inspect its asset, interval, lookback and comparison operator against the parameters above. If no trades occur, check whether the condition ever became true and whether the requested input data exists for that period. A missing input is not a zero-valued signal. An indicator produces an input to a rule. It does not establish future returns, and data availability can differ across assets and periods.