DSL - WPR - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
The Williams Percent Range Technical Indicator (%R) is a dynamic technical indicator that determines whether the market is overbought/oversold. Williams' %R and the stochastic oscillator . The only difference is that %R has an upside-down scale, while the stochastic oscillator has internal smoothing.
To display the indicator in this upside-down way, you can place a minus sign (e.g. -30%) before the Williams Percent Range value. The minus sign should be ignored when doing analysis.
The DSL version of the Williams Percent Range does not use fixed levels to indicate oversold and overbought levels, but rather identifies these levels by calculating some kind of dynamic (interrupted signal line). This makes it more responsive to market changes and volatile markets.
Attachment download
📎 dsl_-_wpr.mq5 (6.04 KB)
Source: MQL5 #20034
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