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Quantizing Williams Percent Range as a Histogram

Article MQL5 code base
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Summary

This indicator description explains a histogram version of the Williams Percent Range (WPR) oscillator. It rounds oscillator values within the standard range from minus 100 to zero into discrete levels, with the selected input controlling the rounding interval. The listed settings produce progressively coarser buckets, including a mode that reduces the output to a few broad levels. The result is a stepped histogram intended to make WPR zones easier to distinguish visually.

The description states that values below minus 50 are rounded downward and mentions a greater-side rounding rule for RSI values above 50, although that RSI reference is not otherwise explained in the WPR indicator description. No trading rules, market tests, or evidence of predictive performance are provided. The indicator is a display transformation of an existing oscillator, so it changes how values are grouped rather than establishing a new signal by itself; users would need to test any strategy built around its levels.

Key ideas

  • The indicator converts Williams Percent Range readings into discrete histogram levels.
  • A user-selected setting controls how coarse the rounding intervals are.
  • The described WPR range runs from minus 100 to zero.
  • The text gives a rounding direction for values below minus 50 and also references RSI behavior.
  • No trading rules or performance evidence are included.

Tags

Technical indicatorsVolatility

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