Author:

Vinin

Smoothed Larry Williams' Percent Range using Inverse Fisher Transform.

This indicator generates definite buy and sell signals, as its value is close to +1 or -1 most of the time. We should buy when the indicator is crossing -0.5 upwards or 0.5 upwards, in case it has crossed -0.5 upwards some time before. We should sell when the indicator is crossing 0.5 downwards or -0.5 downwards, in case it has not crossed 0.5 downwards some time before.

The indicator uses SmoothAlgorithms.mqh library classes (must be placed to the terminal_data_folder\MQL5\Include). The use of the classes was thoroughly described in the article "Averaging Price Series for Intermediate Calculations Without Using Additional Buffers".

This indicator was first executed in MQL4 and published in Code Base11.05.2009.