Williams %R

Williams %R is the stochastic location question with the sign flipped and the scale running from 0 down to -100. Near 0 the close is at the top of the range. Near -100 it is at the bottom. Larry Williams used -20 and -80 as the hot zones. It will tell the same story as a fast stochastic of the same length, mirrored.

Because it uses the raw high and low, one spike high pins the top of the scale until that spike ages out of the window. The reading can stay near 0 for the whole trend. That is strength. The turn away from the extreme, not the extreme itself, is the information.

A rise from below -80, with price holding a low, is the bullish cross in a range. In an uptrend, returns to -80 that turn up are pullbacks.

A fall from above -20, with price failing at a high, is the bearish version. Pinning near 0 is not a short by itself.

Forgetting the scale is negative and reading -10 as "worse than -90." -10 is near the highs. Also duplicating stochastic and %R and calling them independent.

Identical inputs to the stochastic denominator mean identical weaknesses. A one-bar range spike dominates the lookback. Check the high and low that created the number.