Larry Williams is an author and veteran stock and commodity trader, who created numerous rangebound momentum-based oscillators that are cornerstones in how he finds potential trade setups. They indicate overbought and oversold conditions, signal divergences and gauge buying and selling pressure. Some of them use multiple timeframes in their calculation. Among the oscillators are Williams % and the Ultimate Oscillator as well as popular alternative versions developed by the community. As is the case with most indicators, these oscillators should not be used as a stand-alone signal generating system.