Just like stochastic oscillator indicator, Williams %R is a momentum indicator. It is develop by Larry Williams. Just like RSI indicator. You can use Williams %R momentum indicator to detect oversold or overbought. It is range from 0 to -100.
It is useful to scale oversold (-100) and Overbought (0). When the oscillator reach -100 or zero it is time to watch the price action.
Its can generate false signal and should be use with other indicator such as RSI.
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