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Smoothing a Williams Percent Range Histogram and Its Thresholds

Article MQL5 code base
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Summary

This indicator description presents a Williams Percent Range histogram with extra averaging applied to both the histogram and its dynamic overbought and oversold levels. The configurable inputs include the WPR period, volume type, upper and lower threshold levels, smoothing method and depth, smoothing parameters, and horizontal shift. The indicator is implemented for MetaTrader 5 and relies on a separate smoothing-algorithm library.

The material explains the indicator's construction and available settings, but it does not describe entry or exit rules, show performance tests, or establish how the smoothed readings should be interpreted in a trading strategy. Averaging can make signals less noisy while also changing their responsiveness; the document provides no comparison of smoothing methods or evidence about that tradeoff. It is therefore a technical indicator reference rather than a tested trading system.

Key ideas

  • The indicator applies additional averaging to a WPR histogram and its dynamic thresholds.
  • Users can configure the period, volume input, threshold levels, smoothing settings, and bar shift.
  • The implementation depends on a separate smoothing library for MetaTrader 5.
  • The description provides no trading rules or performance evidence.

Tags

Technical indicatorsVolatility

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