Displaying Higher-Timeframe Williams %R Trend and Trade Signals

Summary

The iWPRSign_HTF_Signal indicator displays the trend direction or trade signal produced by iWPRSign for a selected bar using colored arrows. A right-pointing arrow marks continuation of the existing trend, while a diagonal arrow marks a change and indicates trade direction. It can also issue alerts and play sounds.

Its signal inputs include an asset, calculation timeframe, ATR period, Williams %R period, and upper and lower threshold levels. Other settings control the selected bar, arrow and label appearance, chart placement, and alert behavior. The description says that multiple copies on one chart need distinct label prefixes and that the companion iWPRSign indicator file must be installed. It provides usage and configuration details but no backtest, accuracy figures, or evidence that the signals are profitable; the arrows visualize the underlying indicator’s output rather than establish a standalone strategy.

Key ideas

• The indicator visualizes iWPRSign trend and trade signals on a selected bar from a chosen timeframe.
• A right arrow indicates trend continuation, while a diagonal arrow indicates a change and trade direction.
• Williams %R period and upper and lower levels are among the signal inputs.
• Display settings control arrow colors, labels, size, and chart placement.
• Alerts and sound notifications can be configured, and copies on one chart need distinct label names.
• The description gives no performance evidence or trading results.

Tags

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