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WILLR

Type: willr • Category: indicators

Description​

Williams %R

Parameters​

NameTypeDescriptionRequiredDefault
highstringList of highest pricesno
lowstringList of lowest pricesno
closestringList of closing pricesno
timeperiodnumberno14

Help​

WILLR

Williams %R Indicator for Financial Markets​

Description​

The Williams %R indicator is a momentum indicator that measures the level of the close relative to the high-low range over a given period of time. It is used to determine the market's sentiment and potential reversal points.

What does this worker do?​

This worker calculates the Williams %R indicator for a given set of high, low, and close prices over a specified time period. The indicator values range from 0 to -100, where 0 indicates that the close is equal to the highest high of the period, and -100 indicates that the close is equal to the lowest low of the period.

How to interpret the results​

The Williams %R indicator can be interpreted as follows:

  • A reading above -20 indicates that the market is in overbought territory, which may lead to a potential reversal downwards.
  • A reading below -80 indicates that the market is in oversold territory, which may lead to a potential reversal upwards.
  • A reading between -20 and -80 indicates that the market is in a neutral state.

Parameters​

The following parameters are required to calculate the Williams %R indicator:

Parameters Schema (JSON)​

{
  "high": {
    "type": "string",
    "description": "List of highest prices"
  },
  "low": {
    "type": "string",
    "description": "List of lowest prices"
  },
  "close": {
    "type": "string",
    "description": "List of closing prices"
  },
  "timeperiod": {
    "type": "number",
    "default": 14
  }
}

Parameters List​

  • high: string - List of highest prices. This should be a comma-separated string of values.
  • low: string - List of lowest prices. This should be a comma-separated string of values.
  • close: string - List of closing prices. This should be a comma-separated string of values.
  • timeperiod: number - The time period over which to calculate the indicator. Default value is 14.