Williams %R Cycle Signals Using Midline and Extremes

Summary

The indicator uses a 40-period Williams %R oscillator with reference levels at -25, -50, and -75. It marks a bullish cycle when the oscillator crosses above the midpoint and a bearish cycle when it crosses below. Crossings through the outer levels generate additional labels intended to show exits from oversold or overbought territory, cycle status, and possible trade management points. The code draws these signals directly on price charts, with display offsets that vary by timeframe setting.

The author claims high historical success rates, especially for signals aligned with the prevailing trend, but supplies no test data, market sample, or methodology to substantiate those figures. The description itself notes failures can occur against strong trends and suggests checking signals with other systems. The material explains a rule set, but does not specify a stop, position sizing, or a reproducible validation process; its performance claims should therefore be treated cautiously.

Key ideas

• The system applies a 40-period Williams %R oscillator with -25, -50, and -75 reference levels.
• Crossing the -50 midpoint defines the start of bullish or bearish cycles.
• Crossings of the outer levels label potential cycle transitions and trade management points.
• The author reports strong historical accuracy but provides no supporting test details.
• The description warns that countertrend signals can fail and recommends confirmation from other methods.

Tags

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