Williams %R
Larry Williams
What it measures
How far price has been pushed down from the high of the last 14 days. The closer to zero, the tighter it is holding to that high.
How TickTurn reads it
At −20 or higher (pressed against the high) it counts bearish as overheated; at −80 or lower it counts bullish as oversold. In between, above −45 is bullish, below −55 is bearish, and −45 to −55 is neutral.
That judgement is made on closed daily bars only; a bar still in progress is left out, because including it makes the same symbol change its answer within the day. On the result screen this indicator holds one vote out of 21.
It is not an answer on its own
If one indicator could call tomorrow, everyone would use only that one. TickTurn asks 21 of them together not because any single one is trusted, but to show plainly where they disagree. Even the combined score, measured against the right baseline, came out only a shade better than chance — the scoring is written up in how we tested.