This indicator is a variation of a well known WPR (Williams Percent Range) indicator.
It is calculating a sort of 4 WPR values:
WPR of Open.
WPR of Close.
WPR of High.
WPR of Low.
Those 4 values are then combined into “candles”. The calculation is not using the original WPR calculation. Instead it is adjusted to be able to calculate these 4 values. As a result 2 significant levels are now available.
Level 0 (which unlike the original WPR, can be crossed up in this version).
Level -100 (which unlike the original WPR, can be crossed down in this version).
That way, by observing the levels, possible overbought and oversold states can be assessed.
Filtered WPR - indicator MetaTrader 5 The indicator that is using the self adjusting deviation filter to filter out values of WPR. The parameters are only…
WPR with CCI - indicator MetaTrader 5 Theory : Found this idea on the net. It was originally made for other trading platform by "capissiomo". The indicator…
Smoothed WPR - indicator MetaTrader 5 Theory : Williams %R, or just %R, is a technical analysis oscillator showing the current closing price in relation to…
WPR Custom - indicator MetaTrader 5 The following characteristics were made input parameters: color of the indicator main line width of the indicator main line values…
