Theory:
If you're looking to enhance your trading strategy, the Smoothed Williams Percentage Range (WPR) indicator is a great tool. You can find a detailed explanation of how this WPR is smoothed here.
This version takes it a step further by incorporating floating levels, making it even easier to use. Based on these floating levels, you can take advantage of three modes for color changes:
- Color change when crossing outer levels
- Color change on middle (zero line) cross
- Color change when there’s a slope change
Usage:
The color changes can serve as effective signals for your trading decisions.
PS:
Here's a
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