Forex Station | Advanced Technical Analysis Forum (2024)

WPR = Williams Percent Range; also known as Williams %R

It was developed by Larry Williams and the momentum indicator compares
the last closing price to the high-low range over a specific period. Most people use WPR (14).

The indicator is very similar to the Stochastic oscillator.
In fact, if you invert the %R line, it will have the EXACT SAME LINE as Stochastic’s %K line!
This is why Williams %R uses the 0 to -100 scale while Stochastic is scaled from 0 to 100.

A reading above -20 is OVERBOUGHT.
A reading below -80 is OVERSOLD.
An overbought or oversold signal does NOT guarantee that the price will reverse.

Please download this new version.
The mtf arrows were not in correct positions.
It was like that when I first found this indicator.
Thank you.

Also, I manage to make "WPR bars OnChart smooth arrows alerts 2.01.mq4"

Below is the formula of the %R indicator calculation, which is very similar to the Stochastic Oscillator formula:

%R = -(MAX (HIGH (i - n)) - CLOSE (i)) / (MAX (HIGH (i - n)) - MIN (LOW (i - n))) * 100

Where:

CLOSE (i) — today's closing price;
MAX (HIGH (i - n)) — the highest maximum over a number (n) of previous periods;
MIN (LOW (i - n)) — the lowest minimum over a number (n) of previous periods.

Banzai wrote: Sun Jan 26, 2020 3:17 amPlease download this new version.
The mtf arrows were not in correct positions.
It was like that when I first found this indicator.
Thank you.

Also, I manage to make "WPR bars OnChart smooth arrows alerts 2.01.mq4"

Thank you for the different variants of WPR.
It is one of my favorites on my chart.
Can you set the arrows on the indi 'WPR OnChart smooth arrows alerts 2.01.mq4' so that the size is adjustable.
thank you

Banzai wrote: Fri Jan 24, 2020 4:48 pmWPR + 3 Moving Averages in the same window.
From Russia with love.

i test it WPR +3 MA TT.mq4 in renko charts example in 40 pips block and it is working ..
i test it it seems working in 15 min and 30 min also

but at 1 h and above shows nothing with an error "out of range"
can you fix it please

Banzai wrote: Wed Feb 12, 2020 2:30 pmBelow is the formula of the %R indicator calculation, which is very similar to the Stochastic Oscillator formula:

%R = -(MAX (HIGH (i - n)) - CLOSE (i)) / (MAX (HIGH (i - n)) - MIN (LOW (i - n))) * 100

Where:

CLOSE (i) — today's closing price;
MAX (HIGH (i - n)) — the highest maximum over a number (n) of previous periods;
MIN (LOW (i - n)) — the lowest minimum over a number (n) of previous periods.

Haha, very neat bro. Zig Zag's are still very useful for trading and you've revived my interest in them again

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