#Created 2/24
#Creates color codes for Wiliam %R
declare lower;
input length = 30;
input over_Bought = -20;
input over_Sold = -80;
input price = close;
input averageType = AverageType.WILDERS;
#William
def hh = Highest(high, length);
def ll = Lowest(low, length);
def result = if hh == ll then -100 else (hh - close) / (hh - ll) * (-100);
plot WR = if result > 0 then 0 else result;
WR.SetDefaultColor(GetColor(1));
#end william
#def NetChgAvg = MovingAverage(averageType, price - price[1], length);
#def TotChgAvg = MovingAverage(averageType, AbsValue(price - price[1]), length);
#def ChgRatio = if TotChgAvg != 0 then NetChgAvg / TotChgAvg else 0;
#plot RSI = 50 * (ChgRatio + 1);
plot OverSold = over_Sold;
plot OverBought = over_Bought;
WR.DefineColor("OverBought", GetColor(5));
WR.DefineColor("Normal", GetColor(7));
WR.DefineColor("OverSold", GetColor(1));
WR.AssignValueColor(if WR > over_Bought then WR.color("OverBought") else if WR < over_Sold
then WR.color("OverSold") else WR.color("Normal"));
OverSold.SetDefaultColor(GetColor(8));
OverBought.SetDefaultColor(GetColor(8));
William Percent R ThinkorSwim TOS Script
I created a TOS script to change the color of the William percent R if it is either above or below the oversold and overbought levels. Or if you want to import it directly here is the link http://tos.mx/4CH28K
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