Delta WPR: Combining Fast and Slow Williams %R Signals

Summary

Delta WPR compares fast and slow Williams %R (WPR) oscillators to classify market conditions. Its histogram uses the slow oscillator’s position relative to a configurable level and the fast oscillator’s position relative to the slow one. When the slow reading is above the level and the fast reading is higher, the histogram marks an overbought condition; when both relationships are reversed, it marks an oversold condition. The description gives example periods of 14 and 30 and a signal level of -50, all of which can be changed along with colors and display style.

The indicator exposes buffers for its displayed value, color state, each WPR reading, and their difference. These make the underlying components available for further analysis or custom use. The document explains the indicator’s construction but provides no performance tests, entry or exit rules, or evidence that its overbought and oversold states predict reversals. Its signals should therefore be treated as descriptive oscillator conditions, not as a validated standalone strategy.

Key ideas

• Delta WPR compares a faster Williams %R reading with a slower one.
• The histogram classifies conditions using both the oscillators’ relative positions and the slow reading’s position against a configurable level.
• Example settings use fast and slow periods of 14 and 30, with a signal level of -50.
• Separate buffers expose the histogram state, both oscillator values, and their difference.
• The description supplies no backtest or evidence that the classifications predict profitable trades.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.