Williams %R Indicator consists of one line with a period of 14. This line moves in the limits of 0 and 100 and periodically crosses the -20 and -80 levels. -20 is the overbought level and -80 is the oversold level.
The Williams %R line period can be changed. If you reduce it, signals will be more, but many of them will be false. If the period value is increased, the number of signals will decrease, but they will be more accurate.
It is recommended to use the standard period settings, especially for novice traders. This value is considered optimal in terms of the number and quality of signals.