How to use Williams % R indicator on Olymp Trade with my easy golden rule

(Last Updated On: June 27, 2022)

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Williams % r Indicator | Strategy | Settings | Calculation | Formula | Uses | Definition & more: Hello…how are you?

Today in this article. I will discuss one of the most popular family members of trend indicators i.e William % r that you can easily use on the Olymp Trade trading platform.

What is Williams % r Indicator?

Williams % r also known as the William percentage range, is a type of momentum indicator that moves between 0 to 100 and measures the overbought level and oversold level.

The William % r is mainly used by traders to find the entry and exit points in the market.

The indicator is similar to stochastic and is can be used in the same way.

History:

This indicator was developed by Larry Williams in 1987.

This indicator is really powerful as via this indicator Larry Williams won  ($1,10,000) in 12 months in a trading championship tournament hosted by Robbin Trading company.

Later his daughter who is also an actress, Michelle Williams also won the same contest in 1997.

Calculation

According to the default settings, this indicator works in 14 periods.

•  14 period = highest high
• 14 period = lowest low
• 14 every period = closing price

Formula:

William %R indicator = (Highest high – Closing price) / Highest high – lowest low ) / * (-100)

How to set with William R % indicator on Olymp Trade?

First of all, log in to your Olymp Trade account.

If you don’t have an Olymp Trade account yet. click here.

You can sign up via the form given below.

 

Once you click the link above you will land on the Olymp Trade homepage.

Click on Register.

Now, enter your email, password & hit sign up.

Once you have signed you will land on the Olymp Trade dashboard.

If you have signed up via our link you will see double your deposit pop up. Click  the pop-up and you will get a 100% welcome bonus.

 

 

Next, click on the chart button.

Secondly, select a candlestick from the given menu.

Thirdly, click on the indicator button. and select Williams r% indicator from the menu.

That’s it!! the basic setup is over.

How does the Williams r% indicator works?

As said earlier, The William % r is mainly used by traders to find the entry and exit points in the market.

The golden rule of, William % r says:

If we see the big red bars below the line -50 then we take a sell trade.

Similarly, If we see the big green bars above the line -50 then we take a buy trade.

Let’s check some examples.

Given above is 1 hour chart, and we can clearly big red bars below the line -50.

So, here we can take a SELL trade.

How to use Williams r% indicator on the Olymp Trade trading platform?

Trading with Williams r% indicator is very easy.

However, if you want to reap the real results. you should combine Williams r% indicator with Support & Resistance.

The golden rule of Williams r% indicator & Support & Resistance says:

If we see the big red bars below the zone -50 in Williams r% indicator plus if the candle is near the resistance level then we take a sell trade.

If we see the big green bars above the zone -50 in Williams r% indicator plus if the candle is near the support level then we take a buy trade.

 

Given above is a 1-hour chart.

As we can see the candle is near the support level plus we see the big green bars above the zone -50.

So, here we can take a BUY Trade.

Given above is 1 hour chart, and we can see that the candle is near the resistance level plus we see big red bars below the -50 zone.

So, here we can take SELL trade.

Summary:

 

So, Trading with Williams r% indicator and Support & Resistance is so easy.

You just need to remember the golden rule of Williams r% indicator & Support & Resistance.

If we see the big red bars below the zone -50 in Williams r% indicator plus if the candle is near the resistance level then we take a sell trade.

If we see the big green bars above the zone -50 in Williams r% indicator plus if the candle is near the support level then we take a buy trade.

If you still have any doubt feel free to contact me at Honestdigitalreview@gmail.com

So, this is the end of this article I hope you found this article helpful.