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Enhanced Williams %R

The Enhanced Williams %R Indicator was created by Robert J Kinder Jr (Stocks & Commodities V5:5 (180-182)) and is based on the Williams %R Indicator. It takes volume into account and the buy and sell signals are pretty much the same. I would recommend to buy when the indicator is over the signal and if you want a confirmation then also make sure the signal is above 0. Sell if it falls below the signal or if the signal goes below 0 or of course buy or sell when the indicator goes into overbought or oversold territory.

I'm still tinkering with this indicator and it is the first time I have seen this indicator script published so let me know if you have any suggestions for me.

And of course let me know if you would like me to write indicators for you or anything else you would like to see!
Release Notes: updated to match my other indicators
Release Notes: fixed issue with default resolution
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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Kommentarer

Dear Sir,

I would like to know how to add one more line to the %R with different day length. i.e. I need a %R chart with 2 lines on it, with different day length for their cross signal.
Can you help me?
I don't know much about Pine language.

Many Thanks

Eric
Svara
Great work !
Svara
cheatcountry kerpiciwuasile
@kerpiciwuasile, thank you!
Svara