Volatility Adjusted WPR Indicator

Volatility Adjusted WPR Indicator

Volatility Adjusted WPR Indicator for MT5 provides Forex Buy and Sell trading signals based on the Williams Percentage Range and market volatility.

The Volatility Adjusted WPR Indicator for MT5 is a smoothed version of the classic William’s Percentage Range indicator. As a result, the oversold and overbought conditions of William’s percentage range are transformed into a simple and powerful indicator.

This way, forex traders can identify the best entry points and buy and sell accordingly. The indicator provides two lines and their intersection indicates bullish and bearish forex trading signals.

The indicator works well on all intraday price charts as well as daily, weekly and monthly charts. Thus, forex traders can apply the indicator for scalping, intraday and short-term trading strategies. The trading signals of the indicator are easy to interpret.

Thus, the indicator works well for both beginners and advanced forex traders. Novice traders can trade crossover signals, while experienced forex traders can use the signals in complex trading strategies. In addition, the indicator is free to download and easy to install.

Volatility Adjusted WPR Indicator For MT5 Trade Setup

The above GBPUSD H1 candlestick chart shows the WPR volatility adjusted indicator for MT5 in action. The indicator draws signal lines in orange or blue depending on its slope in a separate indicator window.

For easier understanding, the indicator also draws thick and thin blue and orange bars depending on the current position and direction of the indicator’s main line.

If the orange line is below the zero level, this indicates a bearish market condition. Thus, forex traders should enter the market with a sell position and place a stop loss above the previous swing high. The indicator does not give a target for profit taking. Thus, forex technical traders should exit the market with a good risk/reward ratio or the opposite trading signal.

Similarly, during a bull market, the indicator line turns blue and should be as high as possible above zero. Thus, traders should anticipate an upward price movement and place buy trades. A stop loss below the previous swing low is enough to protect the position. On the other hand, traders should take profits with a good risk-reward ratio or the opposite trading signal.

Traders should not lose sight of the simplicity of the indicator. However, for best results, traders can confirm crossover trading signals with price action.

Since the indicator works well on all timeframes, forex traders can use it for top-down technical analysis. The price trend identified on the higher time frame usually shows the main direction of the market, while on the lower time frame the exact entry points are indicated.

Conclusion
The WPR Volatility Adjusted Indicator for MT5 gets its values ​​from the William indicator. Although the indicator is easy to interpret, it gives a different perspective on the forex market. However, traders should keep in mind that William’s percentage range indicator is an oscillator that primarily identifies overbought and oversold conditions. As a result, forex traders should trade volatility adjusted WPR indicator signals in conjunction with price action and other technical indicators.