PROTECTED SOURCE SCRIPT
Williams %R with Head & Shoulders Pattern Detection
What makes this indicator special?
This indicator merges two proven trading concepts into one powerful tool:
https://www.tradingview.com/x/vcnNeKTQ/
https://www.tradingview.com/x/TISr7Lo3/
1️⃣ Smoothed Williams %R
The classic Williams %R momentum oscillator is smoothed by an EMA to reduce market noise and deliver cleaner signals. The result: fewer false signals, better readability.
2️⃣ Automatic Pattern Recognition
The indicator continuously scans for the two most powerful reversal formations in technical analysis:
🔴 Head & Shoulders (Bearish) → Short signals
🟢 Inverse Head & Shoulders (Bullish) → Long signals
Why detect patterns in the oscillator instead of the chart?
Pattern formations in Williams %R often emerge earlier than in the price chart itself.
The momentum oscillator reveals weakness or strength before it manifests in price – a crucial timing advantage.
Features at a Glance
📊Dual Signal SystemCombines pattern-based entries with classic crossover signals
🎨 Full VisualizationShoulders, head, neckline, and entry levels are automatically drawn⚙️ Customizable ParametersSymmetry tolerance, pattern size, and visualization individually adjustable
🔔 Alert-ReadyPre-configured alerts for all signal types
📋 Live Status TableDisplays detected patterns and current %R value in real-time
Signal Logic
Pattern Entries:
SHORT: H&S detected + Williams %R crosses neckline downward
LONG: Inverse H&S detected + Williams %R crosses neckline upward
Simple Entries (additional):
Crossover at -80 (oversold → Long)
Crossunder at -23 (overbought → Short)
Recommended Settings
Default values are optimized for most timeframes. For higher timeframes (4H+), consider increasing shoulder tolerance to 20%.
⚠️ Disclaimer: This indicator is an analysis tool and not financial advice. Always combine signals with your own risk management and additional analysis.
This indicator merges two proven trading concepts into one powerful tool:
https://www.tradingview.com/x/vcnNeKTQ/
https://www.tradingview.com/x/TISr7Lo3/
1️⃣ Smoothed Williams %R
The classic Williams %R momentum oscillator is smoothed by an EMA to reduce market noise and deliver cleaner signals. The result: fewer false signals, better readability.
2️⃣ Automatic Pattern Recognition
The indicator continuously scans for the two most powerful reversal formations in technical analysis:
🔴 Head & Shoulders (Bearish) → Short signals
🟢 Inverse Head & Shoulders (Bullish) → Long signals
Why detect patterns in the oscillator instead of the chart?
Pattern formations in Williams %R often emerge earlier than in the price chart itself.
The momentum oscillator reveals weakness or strength before it manifests in price – a crucial timing advantage.
Features at a Glance
📊Dual Signal SystemCombines pattern-based entries with classic crossover signals
🎨 Full VisualizationShoulders, head, neckline, and entry levels are automatically drawn⚙️ Customizable ParametersSymmetry tolerance, pattern size, and visualization individually adjustable
🔔 Alert-ReadyPre-configured alerts for all signal types
📋 Live Status TableDisplays detected patterns and current %R value in real-time
Signal Logic
Pattern Entries:
SHORT: H&S detected + Williams %R crosses neckline downward
LONG: Inverse H&S detected + Williams %R crosses neckline upward
Simple Entries (additional):
Crossover at -80 (oversold → Long)
Crossunder at -23 (overbought → Short)
Recommended Settings
Default values are optimized for most timeframes. For higher timeframes (4H+), consider increasing shoulder tolerance to 20%.
⚠️ Disclaimer: This indicator is an analysis tool and not financial advice. Always combine signals with your own risk management and additional analysis.
Script protetto
Questo script è pubblicato come codice protetto. Tuttavia, è possibile utilizzarle liberamente e senza alcuna limitazione – ulteriori informazioni qui.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
Script protetto
Questo script è pubblicato come codice protetto. Tuttavia, è possibile utilizzarle liberamente e senza alcuna limitazione – ulteriori informazioni qui.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.