Skip to content
All library documents

Williams Percent Range Candles from OHLC Values

Article MQL5 code base
Read the original

Summary

This indicator adapts Williams Percent Range by calculating separate values for the open, close, high, and low, then combining them into a candle-style display. Its calculation differs from the standard WPR formula so that each of the four price inputs can be represented in the same framework.

The adapted scale makes zero and minus one hundred crossable levels. The document presents those crossings as visual cues for assessing possible overbought or oversold conditions. It gives no parameter settings, entry or exit rules, market examples, or test results, so it describes an indicator concept rather than a complete trading method. The levels should be treated as potential context, not as evidence of reliable reversal signals.

Key ideas

  • The indicator computes WPR-like values separately for open, close, high, and low.
  • It combines those values into a candle-style visualization.
  • Its modified calculation allows the zero and minus one hundred levels to be crossed.
  • Those levels can help assess possible overbought or oversold states, but no validation is provided.

Tags

Technical indicatorsMean reversion

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