Get started
Straddle_Bender

Willams %R with 13 EMA and 13 SMA

Straddle_Bender  
Oscillators Trend Analysis Bill Williams Indicators percent
65
0
oscillator trendanalysis billwilliams percent
This is standard Williams %R originally written by another user that I modified. Credit to him whose name escapes me at the moment. The green line is 13EMA and red line is 13SMA (offset by 2 for timing trades). Great for very quick trades/day trades. Green over red = long. Red over Green = short.

Beware: this is still a choppy indicator. You'll need to use it with the Ichimoku lagging span, chop indiicator, adx, or some other method of avoiding getting chopped to death trying to take every signal.
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

Want to use this script on a chart?