Understanding the Williams %R Indicator 📊
The Williams %R, or Williams Percent Range, is a momentum indicator that oscillates between zero and -100 〽️
This indicator measures overbought and oversold levels by comparing the closing price to the high-low range over a specific period, typically 14 days.
👉 Williams %R can also help identify market reversals. When the indicator moves from overbought to oversold, it can signal a change in trend. Traders often use this to time their entries and exits more effectively.
📈 Overbought condition is met when Williams %R is above the -20 level, indicating a potential bearish reversal. This suggests the asset could experience a price decline soon.
📉 Oversold condition occurs when Williams %R is below -80, suggesting a potential bullish reversal.
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