The Enhanced Williams %R
Indicator was created by Robert J Kinder Jr (Stocks & Commodities
V5:5 (180-182)) and is based on the Williams %R
Indicator. It takes volume
into account and the buy and sell signals are pretty much the same. I would recommend to buy when the indicator is over the signal and if you want a confirmation then also make sure the signal is above 0. Sell if it falls below the signal or if the signal goes below 0 or of course buy or sell when the indicator goes into overbought or oversold territory.
I'm still tinkering with this indicator and it is the first time I have seen this indicator script published so let me know if you have any suggestions for me.
And of course let me know if you would like me to write indicators for you or anything else you would like to see!