Williams %R Indicator for MT5 Download - Free - [TradingFinder]

The Williams %R Oscillator, available on MetaTrader 5, was developed by Larry Williams to measure Overbought and Oversold conditions in the market. This indicator uses two dashed lines and operates on a scale from 0 to -100, identifying the price's position relative to these zones.

Indicator Specifications

Performance in a Bullish Trend

Analyzing the AUD/NZD currency pair's 1-hour price chart demonstrates the indicator's performance in a bullish trend.

The -80 to -100 range highlights Oversold zones. During such conditions, a trend reversal in the opposite direction is expected.

Performance in a Bearish Trend

The 4-hour Bitcoin price chart (BTC) demonstrates the indicator's performance in bearish trend conditions.

The 0 to -20 range highlights Overbought zones. In these conditions, a trend reversal in the opposite direction is expected.

Indicator Settings

• Chart Theme: Indicator theme;
• Period: The number of periods used to calculate the oscillator line is set to 14.

Conclusion

The Williams %R Indicator is a practical tool for identifying Overbought and Oversold zones on MetaTrader 5.

The regions drawn by this indicator represent potential trend reversal areas. Traders can use the oscillations of the main oscillator line within the dashed lines as signals for entering trades.