WPR and Bollinger Bands - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
Williams %R , WPR , or just %R , is a technical analysis oscillator that shows the current closing price relative to the high and low of the past N days (for a given N). It was developed by trade materials publisher and promoter Larry Williams. The purpose is to determine whether a stock or commodity market is trading near the high or low of its recent trading range, or somewhere in between.
The oscillator uses a negative scale, from −100 (lowest) to 0 (highest), as opposed to the 0 to 100 scale more common in many technical analysis oscillators. A value of -100 means that today's closing price is the lowest price in the past N days, and 0 means that today's closing price is the highest price in the past N days. (Although %R is sometimes adjusted by adding 100.)
This version of the Williams Percent Range adds Bollinger Bands to help identify possible breakouts of overbought and oversold levels.
Attachment download
📎 wpr_with_bollinger_bands.mq5 (8.42 KB)
Source: MQL5 #20599
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