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WPR Indicators for MT4

Banzai, Fri Jul 01, 2022 4:26 pm

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.
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