OPEN-SOURCE SCRIPT
Updated Ultimate Williams %R
Ultimate Williams %R
The most advanced Williams %R indicator available - featuring multi-timeframe analysis, zero-lag processing, volatility adaptivity, and intelligent extreme zone detection.
Key Improvements Over Standard Williams %R
Perfect For
Customizable Settings
The most advanced Williams %R indicator available - featuring multi-timeframe analysis, zero-lag processing, volatility adaptivity, and intelligent extreme zone detection.
Key Improvements Over Standard Williams %R
- Multi-Timeframe: Combines short, medium, and long-term Williams %R calculations with Ultimate Oscillator-style weighting for superior signal quality
- Zero-Lag Implementation: Utilizes Ehler's Zero-Lag EMA with error correction, eliminating traditional oscillator lag while maintaining smoothness
- Volatility Adaptive: Automatically adjusts periods based on ATR volatility analysis for optimal performance in all market conditions
- Z-Score Normalization: Provides consistent, statistically-based extreme level detection across different market environments
Perfect For
- Overbought/Oversold Identification: Instantly spot extreme market conditions with visual intensity that scales with signal strength
- Divergence Analysis: Enhanced responsiveness and smooth operation make divergence patterns clearer and more reliable
- Multi-Timeframe Confirmation: Built-in timeframe combination eliminates the need for multiple Williams %R indicators
- Entry/Exit Timing: Zero-lag processing provides earlier signals without sacrificing accuracy
Customizable Settings
- Timeframe Periods: Adjustable short (7), medium (14), and long (28) periods
- Volatility Adaptation: Configurable ATR-based period adjustment
- Zero-Lag Processing: Toggle and fine-tune the smoothing system
- Z-Score Normalization: Adjustable lookback period for statistical analysis
- Extreme Levels: Customizable threshold for extreme signal detection
Release Notes
Added signal lineAdded optional additional smoothing
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.