OPEN-SOURCE SCRIPT
Valuation Tool + Williams %R by QDEED
Valuation + Williams %R Indicator
This indicator combines relative valuation and momentum to help identify overvalued and undervalued conditions in key macro assets:
Inspired by Larry Williams' techniques, this tool uses a rescaled comparison of asset prices and overlays the Williams %R momentum oscillator.
What it shows:
This indicator combines relative valuation and momentum to help identify overvalued and undervalued conditions in key macro assets:
- DXY (US Dollar Index)
- GC1! (Gold Futures)
- ZB1! (30-Year US Treasury Bond Futures)
Inspired by Larry Williams' techniques, this tool uses a rescaled comparison of asset prices and overlays the Williams %R momentum oscillator.
What it shows:
- When the value line is above 0, the asset may be overvalued relative to the others.
- When it's below 0, the asset may be undervalued.
- The Williams %R adds a timing layer, indicating overbought/oversold momentum zones.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.