Studies: William's %R Scale Inverted
Q: Regarding Williams Percent R, the zones plot inversely; in other words, the 75% plots below 50%, near bottom of sub window, and the 25% plots above 50%, near the top of the sub window.
A: You are correct in observing the 75% scale is below the 50% scale. This is correct. It is not a mistake and the plot is not inverted. The formula is the ratio of the 100*(High-Close)/(High-Low). So when Close is on the bottom of the bar the value is 100%. Everything is correctly implemented and the scale appears upside down is as it should be.
On the Grid object used with the Williams %R study, select % Williams instead of % Scale. This selection will invert the scale so that the 25% line is a quarter of the distance down from the top of the sub-window instead of a quarter of the distance up from the bottom.
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Last modified 1/15/09 10:16 AM