Theory :
The way how this WPR is smoothed is described here : Smoothed WPR
In order to enable simpler usage of that indicator, this version is adding floating levels. You can use, depending on those floating levels, 3 modes of color changes
- color change on outer levels cross
- color change on middle (sort of zero line) cross
- color change on slope change
Usage :
You can use color changes as signals
PS:
One "big picture" example. Some experimenting with the parameters is advised prior to using it in trading decisions
