Telemet Orion users may easily add a Williams %R oscillator to Charts through the Lower Indicators menu within Options. Simply select Williams %R from the drop down menu.
This price velocity oscillator developed by Larry Williams depicts the exact negative inverse of the stochastic oscillator. The current period closing price is compared to the recent trading range to indicate overbought and oversold conditions. Large (small) negative values indicate oversold (overbought) conditions.
Interpretation: Buy (sell) when indicator curve extends below (above) a threshold level (usually -80 for buys and -20 for sells). Look for divergence between price and %R to signal trend reversals.
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