Created by Larry Williams to identify overbought and oversold conditions based on today's price in relation to past prices. Williams %R has an excellent ability to anticipate price extremes and many times forms a top or bottom and reverses days before the securities does. The chart is read upside down with peaks designates as lows on the %R scale. Oversold readings occur in the 80-100 range and overbought readings in the 0-20 range.
