Sri-Williams R % with CTF

📊 Sri – Williams %R with Custom Timeframe (CTF)

Developed by Venkat Raman (Sri)

📘 Overview

The Sri – Williams %R with Custom Timeframe (CTF) is a refined version of the classic Williams %R oscillator, enhanced with multi-timeframe capability and adaptive signal smoothing.

This indicator measures overbought and oversold conditions while also incorporating trend alignment across different timeframes — making it a valuable tool for both momentum analysis and trend confirmation.

By applying custom timeframe (CTF) inputs, traders can observe higher or lower timeframe Williams %R values within their current chart, helping align trade entries with broader market direction.

⚙️ Key Features

✅ Custom Timeframe (CTF) Input:
View Williams %R from any timeframe (e.g., 5m, 15m, 1H, 1D) directly on your current chart for multi-timeframe confirmation.

✅ Dynamic Color Coding:

Green Line: Bullish bias (above -50)

Red Line: Bearish bias (below -50)

✅ Smoothed EMA Overlay:
An optional EMA line smooths out the %R curve, making it easier to identify sustained momentum shifts and filter out noise.

✅ Overbought / Oversold Zones:
Classic reference zones help identify exhaustion or continuation signals:

Overbought: -20

Oversold: -80

Neutral midpoint: -50

✅ Background Fill:
Gray shading between -20 and -80 levels for quick visual interpretation of trading zones.

🧩 Inputs Explained
Input Description
Williams %R Length Period used for %R calculation (default: 100)
EMA Length Smoothing period for the signal line (default: 50)
Custom Timeframe (CTF) Allows you to select the timeframe on which Williams %R is calculated
🟩 Interpretation

%R > -50 (Green): Indicates bullish momentum or uptrend strength.

%R < -50 (Red): Indicates bearish momentum or downtrend strength.

Crossing -50: Often signals a shift in directional bias.

Approaching -20: Potential overbought zone.

Approaching -80: Potential oversold zone.

Combine this signal with price action, volume, or volatility-based tools for stronger confirmation.

🔍 How It Works

Calculates highest and lowest price values over the selected length.

Determines the current price’s position within that range (from 0 to -100).

Applies custom timeframe aggregation to fetch %R data from higher or lower intervals.

Optionally smooths %R with an EMA filter for clarity and reduced whipsaw signals.

🎨 Color Scheme
Element Color Meaning
%R Line 🟢 Green / 🔴 Red Above or below -50 baseline
EMA Line 🩵 Aqua Smoothed signal reference
Background Fill ⚪ Light Gray Oscillator zone between -20 and -80
🧠 Usage Tips

Use a higher timeframe CTF (e.g., 1H or 1D) while trading shorter intervals to align with dominant market trends.

Combine with volume surge or trend-based indicators (e.g., ADX, RTI, or Supertrend) for momentum confirmation.

Crossovers between %R and EMA can highlight early reversals or trend continuations.

⚡ Advantages

Multi-timeframe adaptable

Noise-filtered momentum view

Visual trend alignment tool

Straightforward and clean presentation

📜 Formula
\text{Williams %R} = 100 \times \frac{(Close - Highest(High, n))}{(Highest(High, n) - Lowest(Low, n))}

Values range between 0 and -100, with overbought levels near -20 and oversold near -80.

🏁 Summary

The Sri–WR (Williams %R with CTF) is a multi-timeframe momentum indicator built for clarity, flexibility, and trend precision. It retains the core logic of Williams %R but enhances its utility for professional analysis and adaptive trend alignment.