Forex Williams Percent Range Candles Indicator

Our custom developed Forex Williams Percent Range Candles Indicator. Williams %R, also known as the Williams Percent Range, is a type of momentum indicator that moves between 0 and -100 and measures overbought and oversold levels. The Williams %R may be used to find entry and exit points in the market. The indicator is very similar to the Stochastic oscillator and is used in the same way. It was developed by Larry Williams and it compares a stock’s closing price to the high-low range over a specific period, typically 14 days or periods.

KEY TAKEAWAYS

  • Williams %R moves between zero and -100.
  • A reading above -20 is overbought.
  • A reading below -80 is oversold.
  • An overbought or oversold reading doesn’t mean the price will reverse. Overbought simply means the price is near the highs of its recent range, and oversold means the price is in the lower end of its recent range.
  • Can be used to generate trade signals when the price and the indicator move out of overbought or oversold territory.

Feel free to use this indicator together with our other technical indicators (oscillators, momentum) or price action methods to maximize your trading accuracy.

Free Download

Forex Williams Percent Range Candles Indicator

The EUR/GBP 15 minute chart below displays the Forex Williams Percent Range Candles Indicator in action.

Forex Williams Percent Range Candles Indicator

Installation

Copy and paste the Forex Williams Percent Range Candles Indicator into the MQL4 indicators folder of the Metatrader 4 trading platform.

You can access this folder from the top menu as follows:

File > Open Data Folder > MQL4 > Indicators (paste here)

How to remove Indicator from your Metatrader Chart?

  • Select the Chart where is the Indicator running in your Metatrader 4 Client
  • Right click into the Chart
  • “Indicators list”
  • Select the Indicator and delete

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Author: Dominic Walsh

I am a highly regarded trader, author & coach with over 16 years of experience trading financial markets. Today I am recognized by many as a forex strategy developer. After starting blogging in 2014, I became one of the world's most widely followed forex trading coaches, with a monthly readership of more than 40,000 traders! Make sure to follow me on social media: Instagram | Facebook | Linkedin | Youtube| Twitter | Pinterest | Medium | Quora | Reddit

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