Like the stochastic, on a scale from −100 to 0.
−20 to 0 means the close is near the top of the range, −100 to −80 near the bottom.
Worked out by the same code the builder uses, on stored daily candles. Move a setting and the line moves with it. This is what happened, not what will happen.
Entry: Williams %R(14) crosses above −80.
Mathematically the same information as stochastic %K, so do not use both.
No indicator predicts the market on its own. Build the rule, then test it on years of history with fees included. Try TradeXtool free for 14 days.