Variable List Abbreviation: %R
Variable Mode(s): Standard, Stock, Futures1 and Futures2
Parameter(s): %R time periods
Relates current price to the price range over the last n (time periods) time periods. Useful for detecting overbought and oversold market conditions, which in turn indicate the possibility of a reactionary trend reversal. The values of %R range from 0 to 100. Values near 100 indicate a high closing price relative to the prices for the last n time periods (upward trend / possibly overbought conditions). Conversely, values near 0 indicate a low closing price relative to the prices for the last n time periods (downward trend / possibly oversold conditions).
%R = 100 * (current price - lowest price over n time periods)
(highest price - lowest price over n time periods)
Note:- If (highest price = lowest price) then %R = 50