WILLIAMSR (Williams %R)

Williams %R is a fast momentum oscillator that shows the current closing price relative to the high-low range over a period. It ranges from -100 (oversold) to 0 (overbought).

Declaration

function init(ctx) {
  ctx.indicator('willr', 'WILLIAMSR', { period: 14 });
}

Options

Option	Type	Default	Description
`period`	`number`	14	Lookback period

Output

Returns a single number[] series with values between -100 and 0.

Accessing Values

function onBar(ctx, i) {
  const willr = ctx.ind.willr[i];
}

Use Cases

Reversal Trading

function onBar(ctx, i) {
  const willr = ctx.ind.willr[i];
  
  if (willr < -80) {
    ctx.order.market('ASSET', 1, { signal: 'buy', reason: 'willr_oversold' });
  }
  if (willr > -20) {
    ctx.order.close('ASSET', { signal: 'sell', reason: 'willr_overbought' });
  }
}

Value Ranges

Range	Interpretation
-100 to -80	Oversold
-80 to -20	Neutral
-20 to 0	Overbought

Calculation

$$%R = \frac{Highest High - Close}{Highest High - Lowest Low} \times -100$$

STOCH - Similar concept with %K/%D lines
RSI - Momentum using gains/losses
CCI - Mean deviation oscillator