Larry Williams%R indicator marries SMA indicator. Honeymoon photo included.

The Williams%R indicator is famous for the -20 and -80 % levels to indicate overbought and oversold conditions. Watch for the 2 lines to cross on the -20 and -80 centerlines for your potential signals.

Enjoy the Free code.

declare lower;

input Length = 14;
input OverBought = -20;
input OverSold = -80;
input MovAvgLength = 9;

def highest = Highest(high, Length);
def lowest = Lowest(low, Length);
def data = if highest == lowest then -100 else (highest - close) / (highest - lowest) * (-100);

plot PercentR_SMA = if( data > 0, 0, data);
PercentR_SMA.SetDefaultColor(Color.BLUE);
plot Over_Sold = overSold;
Over_Sold.SetDefaultColor(GetColor(8));
plot Over_Bought = overBought;
Over_Bought.SetDefaultColor(GetColor(8));
plot SMA = Average(data =PercentR_SMA, length = MovAvgLength);
SMA.SetDefaultColor(GetColor(5));