Williams Percent Range (WILLR) Indicator

Developed by Larry Williams, the Williams Percent Range is a momentum oscillator designed to determine overbought and oversold market conditions.

This indicator is the inverse version of the Stochastic Fast indicator in that it compares the level of the close to the highest high during the lookback period, while the Stochastic Fast does the exact opposite, reflecting the level of the close to the lowest low. The Williams Percent Range then corrects the inversion by multiplying the result by -100. Consequently, the two oscillators readings are identical but their scaling is different.