WPR_Histogram_Vol - MetaTrader 5 Script | Trading Script Download - MT4/MT5 Resources

Williams' Percent Range uses volume to display the oscillator as a color histogram.

Calculation formula:

 WPR histogram volume = (WPR + 50) * volume

For perfectly understandable reasons, the same formula should be used to recalculate overbought and oversold levels in such modified oscillators. In the final version, these levels are no longer permanent. Two levels with appropriate breakout indications are used.

 Enter an integer High level 2 = + 20 ; // Overbought level 2
Enter an integer High level 1 = + 15 ; // Overbought level 1
Enter an integer low level 1 = - 15 ; // oversold level 1
Enter an integer low level 2 = - 20 ; // Oversold level 2

In the indicator input parameters, these levels are shifted by the 50 level of the source WPR, which is then multiplied by the volume of each indicator tick.

Figure 1. WPR_Histogram_Vol

Attachment download

📎 wpr_histogram_vol.mq5 (24.05 KB)

Source: MQL5 #22393