Volume-Weighted Williams Percent Range Histogram and Dynamic Thresholds

Summary

This indicator modifies Williams’ Percent Range (WPR) by shifting it upward by 50 and multiplying the result by volume at each tick. The output is displayed as a color histogram, combining an oscillator reading with trading activity. Its thresholds are adjusted using the same transformation, so they vary with volume instead of remaining fixed at the original oscillator’s overbought and oversold levels.

The document gives example upper and lower threshold inputs and says the shifted levels are multiplied by volume. It also mentions breakout indications around the thresholds. It provides no chart interpretation, trading rules, performance evidence, or guidance on instrument, timeframe, or volume source. Because the transformed values depend on volume, users would need to interpret the histogram and thresholds in that context rather than assume conventional WPR levels still apply.

Key ideas

• The indicator multiplies shifted Williams Percent Range values by volume to create a histogram.
• It shifts WPR by 50 before applying the volume multiplier.
• Overbought and oversold thresholds are transformed using the same calculation and therefore vary with volume.
• The document supplies example threshold inputs but no tested strategy or performance results.

Tags

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