Skip to content
All library documents

Representing Williams Percent Range as Candlesticks

Article MQL5 code base
Read the original

Summary

This short description introduces an indicator that transforms Williams Percent Range (WPR) values into a sequence of candlestick-style bars. The bars are generated by processing the relevant price time series through the WPR calculation, offering an alternative visual format for examining the indicator.

The source suggests that this representation may be more informative in some analysis contexts, but it provides no formula details, chart examples, trading rules, comparison with standard WPR displays, or performance evidence. It therefore explains a visualization concept rather than a complete strategy. Traders would need to determine how the transformed bars behave across instruments and settings and test any signals independently before relying on them.

Key ideas

  • The indicator displays Williams Percent Range output as a sequence of candlestick-style bars.
  • Its bars are derived by applying the WPR algorithm to price time series.
  • The source suggests the display may help analysis but supplies no validation or trading rules.
  • Any signals inferred from the visualization require independent testing.

Tags

Technical indicators

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