This indicator comes with adjustable ( ma-ema and ) moving averages, applied on signal. So whenever crossover or it's an indication of stock/coin price is moving upwards while it crossunder or values, it's an indication of price will go downwards. Convincigly though each crosspoints have their own custom colors, so you can identify if it's going up or down.
Oversold and Overbought Visuals:
Whenever crossover overbought area, it will draw an orange circle, which indicates the direction of the trend is about to end and price of that stock/coin may fall. Anything over -20 is considered as Overbought.
Convincigly when crossunder oversold area, it will drawn lime color circle, which indicates that the stock/coin may have reached at it's bottom and trend change is expected. Anything below -80 is considered as Oversold and could be used as buying zone.
Trend following with WMA:
As mentioned earlier, while Willams %R gives you reliatively good buy and sell points, it does not show you the whole picture, thanks to it's jagged nature. If the certain stock/coin in a falling trend, may give you numerous buy and sell signals; but won't show you if it's going to get lower or higher. Thanks to , it filters most of the jagged signals and gives you an idea of where the trend is heading, also offers key turning points (trend overbought and oversold areas)
Whenever draws a red cross on top, it indicates the following trend is about the change and if you have not sold the stocks/coins you are holding, you may only have small amount of time left to do so. And when draws a green cross at the bottom, it's an indication of strong buy signal and the downtrend is about to end. Although for both of these keypoints, you should always confirm it via signals and as well.
There is also something called midpoint. Whenever draws purple circle at specific levels(which is also adjustable) it will give you an idea of trend may change it's direction if it's going upwards or downwards. These circles do not offer you a buy or sell signal and only informs you about where trend is heading or where it might make a reversal. You can also adjust overbought-oversold and midpoint levels for your own liking.
New sorts of MAs will be added after being tested.