Williams %R Indicator for MetaTrader 4 - Free - [TradingFinder]

The Williams %R Indicator is a powerful oscillatory tool developed by Larry Williams to measure overbought and oversold conditions in the market. This oscillator operates from 0 to -100, utilizing two dashed lines to assess the price relative to these conditions.

Indicator Specifications

Indicators in Bullish Trend

Based on the 1-hour price chart of Polkadot (DOT), the oscillator line fluctuates within the -80 to -100 range, marking oversold zones.

In such scenarios, a trend reversal can be anticipated. Once the oscillator exits the specified zone, it can be considered a signal to enter Buy trades.

Indicator in Bearish Trend

According to the 4-hour price chart of the EUR/USD currency pair, the oscillator line fluctuates within the 0 to -20 range, marking overbought zones.

In such scenarios, a trend reversal can be anticipated. Once the oscillator exits the specified zone, it can be considered a signal to enter Sell trades.

Indicator Settings

• Chart Theme: Indicator theme;
• Period: The number of periods for calculating the oscillator line is 14.

Conclusion

The Williams %R Indicator is specifically designed to identify overbought (Overbought) and oversold (Oversold) zones. This oscillator not only highlights trend reversal areas but also provides potential signals for entering trades based on the Williams %R line fluctuations within the specified zones.