Color-Coded Smoothed Williams %R Histogram for Level Breakouts

Summary

This document describes a smoothed Larry Williams %R oscillator displayed as a histogram in a symmetric range from -50 to +50. It presents two coloring modes: one highlights breaks beyond overbought or oversold levels, while the other marks changes in the histogram’s direction.

The display is intended to make oscillator movement and threshold breaks easier to read. The document gives no trading rules, parameter values, test results, or evidence that either coloring mode improves decisions. It also notes that the indicator depends on an external smoothing library, so the description alone is not a complete implementation guide.

Key ideas

• The indicator applies smoothing to Larry Williams %R and presents it as a histogram.
• Its zero-centered scale runs from -50 to +50.
• Histogram colors can mark overbought or oversold breaks, or changes in direction.
• The indicator requires a separate smoothing library.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.