Real author:

FX5

The WPR oscillator with the boundaries of the overbought/oversold areas in the form of Bollinger Bands.

Indicator input parameters:

input uint Length=12; // WPR period
input double BandsDeviation=2.0; // Deviation
input bool MA_Method=true; // Use smoothing for Bollinger Bands
input int Shift=0; // Horizontal indicator shift in bars

Fig.1. The FX5_SelfAdjustingWPR indicator