drawn at both the -20 and -80 values as warning signals. This is the Williams Percent Range Indicator, its based on the last 100 candles and whenever the blue line here crosses one of the dotted lines, that will produce a buy or a sell signal, when its below its a buy signal, and when its. The Williams Percent Range indicator is common on Metatrader4 trading software, and the calculation formula sequence involves these straightforward steps: Choose a period N for R (Standard is 14 R 100 * (HN CCP HN LN) where CCP Current Closing Price, LN lowest low. The Williams Percent Range indicator is uncanny in its ability to signal a reversal one or two periods ahead of reality. When the WPR value is below minus 80 that would be the case when the blue line is below the dotted line here, thats the minus 80 mark we want to create a buy signal, and here is how that is done with MQL4:. Trading Rules for WPR Overbought Oversold Trading System Trading System. So, if WPR value is bigger than minus 20 we create a sell signal by assigning the word: sell to our signal variable. Share your opinion, can help everyone to understand the forex strategy. Brought to you by: The Williams Percent Range, or R, indicator is a popular member of the Oscillator family of technical indicators. The Williams Percent Range indicator is classified as an oscillator since the values fluctuate between zero and -100.
Market: Forex Majors, Index and Commodities. Metatrader Indicarors: WPR Overbought Oversold Trading System with alerts (4 periods Trend Magic, Stochastic (2,3,3 Commodity Channel index (14) optional, ADR1. It needs the current symbol on your chart, the selected time frame like 1 minute or 60-minute charts, this is the period for the calculation, we will use 100 candles here because when you right-click on the indicator and select properties, you will see that. In this video we are going to create an Expert Advisor to output buy or sell signals on your chart based on the WPR Indicator. If you dont get any errors and no warnings here, you can click on a little button here or press F4 to go back to Metatrader. Now lets calculate the WPR value, we are doing it by using the iWPR function that comes with MQL4. Now you should see the Strategy Tester panel here and you want to select the file: SimpleWPR. We use _Symbol for the symbol on the chart, _Period for the selected period on the chart, this parameter is for our 100 candles and because we are not going to use any shift value the last parameter is zero. This system is for intraday trading. The weakness in the indicator is that timing is not necessarily a product of the R oscillator, the reason for attaching a lagging moving average to confirm the Williams Percent Range signal. Trade in the direction of the trend of the trend magic indicator. Sell, when the Trend Magic line is red color wait the sell arrow of the WPR Overbought Oversold.