Developed by Larry Williams, Williams %R is a momentum indicator that is the inverse of the Fast Stochastic Oscillator.
Also referred to as %R, Williams %R reflects the level of the close relative to the highest high for the look-back period.
In contrast, the Stochastic Oscillator reflects the level of the close relative to the lowest low.
%R corrects for the inversion by multiplying the raw value by -100. As a result,
the Fast Stochastic Oscillator and Williams %R produce the exact same lines,
but with different scaling. Williams %R oscillates from 0 to -100; readings from 0 to -20 are considered overbought,
while readings from -80 to -100 are considered oversold. Unsurprisingly,
signals derived from the Stochastic Oscillator are also applicable to Williams %R.
