Combining Williams %R and RSI Thresholds for Chart Signals

Summary

This indicator description presents a simple rule that combines Williams %R and the Relative Strength Index to mark chart signals. It describes averaging a shifted Williams %R reading with a short-period RSI reading, then comparing the result with the midpoint threshold. The displayed arrows, trend-strength information, and peak labels are intended to help interpret the chart, while the signal is said to work across timeframes and symbols.

The post gives the core formula and names several other indicators shown on the chart, including Bollinger Bands and Fibonacci pivots. It does not provide backtests, trade rules for entries and exits, risk controls, or evidence that the signals predict profitable moves. The author cautions that this is a first indicator and advises care. Signals may also change on the latest bar, so users should establish how the indicator behaves with live data before relying on it. The description supports understanding the indicator’s construction, but not conclusions about its effectiveness.

Key ideas

• The indicator combines Williams %R and RSI readings into one threshold measure.
• It marks signals when the combined measure falls on either side of the midpoint.
• The author describes use across symbols and timeframes.
• The latest bar’s arrows can change, and no performance evidence is provided.
• Other chart studies are displayed alongside the indicator.

Tags

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