What is Williams?
The element of Tradeasy Williams is based on the technical indicator Williams Percentage Rate (known as Williams %R or Williams)
The performance is quite simple, it consists of an oscillator between 0 (maximum point) and -100 (minimum point).
The set up of the parameters is also simple since it has only one parameter which is the number of periods (number of candles), the default value is 7.
We should read it by boxing the movements of the las n candles in a range between 0 and -100. The candle that has closed in the maximum within that range, will have a Williams value of 0, while the candle that has closed in the minimum within that range, will have a value of -100. The other values will be distributed proportionally within the range.
Knowing how it works, the operative tries to capture the moments of overbought/oversold.
By default, we will consider overbought above -20 and oversold below -80.
In the element Tradeasy of Williams, in addition of the number of candles and the levels, we can also set up if we want to operate at the moment when Williams enter the levels of overbought or oversold (when it goes up above -20 or goes down below -80), or when it exits those levels (when it goes down below -20 or when it goes up above -80).
The classical methods for using Williams are for strategies based on ranges, or for trending systems, like optimal entering points in the adjustments over a main trend.
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