| Characteristic: | Momentum Indicator | ||
| Parameter Defaults: | William %R Period | 14 | controls the measurement period for the %R line |
| Plots: | WLR | ||
Williams PercentR was developed by Larry Williams. It produces a plot that is the replica of George Lane’s Fast%K but is plotted as values below zero rather than above. Just as Fast%K is a measurement of the position of the current price in relation to the recent range and expressed as a percentage, Williams Percent R reflects the same concept. Note the main difference between the two formulae is that Fast%K has a numerator as: Close - Lowest Low of "x" periods, Williams Percent R has: Close - Highest High for "x’ Periods which produces a negative result.
Formulae:
| %K = 100 - | (100 * ( Close - Highest High for "x’ Periods) | (Position of close in range) | |
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| (Highest High for "x’ Periods – Lowest Low of "x" periods ) (Range) | (Range) |
The indicator may be used in the same manner as Fast Stochastics.
The chart above displays both George Lane’s Fast%K and Williams Percent R and can be seen as being essentially the same.
