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Using Smoothed Williams %R with Floating Levels and Signal-Based Price Zones

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Summary

The document describes an enhanced smoothed Williams %R indicator that adds floating reference levels and displays price-chart support or resistance zones when the indicator’s signal changes. It offers three possible ways to interpret color changes: a cross of the outer levels, a cross of the middle level, or a change in slope. Traders may use these color changes as signals.

The description explains the indicator’s intended features, but does not define its smoothing formula, level calculations, signal timing, or rules for turning signals into entries and exits. It provides no chart examples, backtest evidence, or guidance on risk controls. The indicator is therefore presented as a visual signal aid rather than a fully specified trading system, and its performance cannot be assessed from the information provided.

Key ideas

  • Floating levels extend a smoothed Williams %R indicator.
  • Color changes can be triggered by outer-level crosses, middle-level crosses, or slope changes.
  • Signal changes are also used to draw support or resistance areas on the price chart.
  • The description does not specify formulas or provide evidence of trading performance.

Tags

Technical indicatorsMomentum

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