A colored cloud formed by two WPR (Williams' Percent Range) oscillators with different timeframes.
Author: Nikolay Kositsin
Forum on trading, automated trading systems and testing trading strategies
newdigital, 2014.03.31 12:17
Williams %R Technical Indicator Developed by Larry Williams
Williams %R indicator is pronounced
as Williams percent R indicator. Williams %R Technical Indicator is a
momentum oscillator used to analyze overbought and oversold levels in
the Forex markets.
The Williams % Range oscillator is similar to the
Stochastic Oscillator indicator, apart from that fact that the %R is
plotted upside down on a negative scale that is from 0 to -100 and the
indicator does not apply a smoothing factor.
The Williams %R indicator analyses the association
of the closing prices relative to the High and Low range over a selected
number of n candlesticks.
When doing technical analysis a trader should
ignore the minus sign placed before the value, for example -40, the -
sign should be ignored, just remember the indictor values are placed in
an upside down manner.
Technical Analysis of Williams Percent R Technical Indicator
As for trading overbought/oversold levels it is
best to wait for a currency pair to change direction before taking a
signal in the opposite direction. For Example if a currency pair is
oversold it is best to wait for the trend to reverse and start to head
in an upward direction before buying the currency pair.
Asctrend indicator in depth
newdigital, 2013.04.01 12:53
Stochastic indicator (Sto.chas.tic - sto kas'tik) was invented by C. Ralph Dystant (1902-1978) and George C. Lane (1921-2004). WPR was invented by Larry Williams but he uses Stochastic in some cases as an example of WPR :)
But Stochastic is more developed by many versions and more used than WPR for example.
newdigital, 2013.03.29 19:22
You can see - this is classical asctrend (very very first one) - MT4:
newdigital, 2013.03.29 19:29
And this is Asctrend indicator and template for MT4 - attached.