William's %R Formula (Chart Controls)

  • Article

The William's %R formula is a momentum indicator, and is used to measure over-bought or oversold levels. This indicator is very similar to the stochastic %K indicator, except that the Williams %R formula calculates a negative value between 0 and -100 and does not smooth the data.

Sample plot of the William's %R indicator

Formula Details

Syntax

Chart.DataManipulator.FinancialFormula(
    FinancialFormula.WilliamsR,
    "Period",
    "High,Low,Close",
    "WilliamsR")

Parameters

This formula takes one optional parameter.

  • Period
    Period for calculating the Williams %R indicator. The default value is 14.

Input Values

This formula takes three input Y values.

  • High
    The high price.
  • Low
    The low price.
  • Close
    The closing price.

Output Value

This formula outputs one Y value.

  • WilliamsR
    Williams %R indicator.

Remarks

The Line chart type is a convenient chart type to display the formula output.

Example

The following example takes input from Series1's respective high, low, and closing price values (Series1:Y, Series1:Y2, and Series1:Y4) and outputs the Williams %R indicator on Series2's first Y value (Series2:Y). It uses a period of 15 days to calculate the Williams %R indicator.

Chart1.DataManipulator.FinancialFormula (FinancialFormula.WilliamsR, "15", " Series1:Y,Series1:Y2,Series1:Y4", "Series2:Y")

Chart1.DataManipulator.FinancialFormula (FinancialFormula.WilliamsR, "15", " Series1:Y,Series1:Y2,Series1:Y4", "Series2:Y");

See Also

Reference

Stochastic Indicator Formula
System.Windows.Forms.DataVisualization.Charting
System.Web.UI.DataVisualization.Charting

Concepts

Financial Formulas
Applying Formulas