How Do You Use Williams Percent R MT5 Indicator?
Williams Percent R Technical Indicator Analysis Buy & Sell Signals
MT5 Williams Percent R Technical Indicator Developed by Larry Williams
MT5 Williams Percent R Indicator is pronounced as Williams percent R indicator. Williams %R Indicator is a momentum indicator that used to analyze overbought and oversold levels in the price.
The Williams % Range oscillator technical indicator is similar to the Stochastic Oscillator technical indicator, apart from that fact that the MT5 Williams Percent R Indicator is drawn upside down on a negative scale that is from 0 to -100 and the Williams Percent R Indicator does not apply a smoothing factor.
How Do I Add MT5 Williams Percent R Indicator in Meta Trader 5 Charts
The Williams Percent R Forex indicator analyzes the association of the closing prices relative in relation to the High and Low range over a selected number of n price periods.
- The closer the closing price of a candlestick is to the highest high of the price range selected the closer to zero value the MT5 Williams Percent R Indicator reading will be.
- The closer the closing price of a candlestick is to the lowest low of the price range selected the closer to -100 values the MT5 Williams Percent R Indicator reading will be.
When analyzing technical analysis of Williams Percent R technical indicator a trader should ignore the minus sign placed before the Williams Percent R technical indicator value, for example -40, the - sign should be ignored, just remember the Williams Percent R technical indicator values are placed in an upside down manner.
- At zero: If the closing price of the candlestick is equivalent to the highest high of the price range the Williams Percent R technical indicator reading will be 0.
- At -100: if the closing price of the candlestick is equal to the lowest low of the price range the Williams Percent R technical indicator reading will be -100.
Analysis of MT5 Indicator Williams Percent R Technical Indicator
Overbought and Oversold Levels on Indicator
- Overbought Levels - MT5 Williams Percent R Indicator values from 0 to -20 are considered as overbought levels.
- Oversold Levels - MT5 Williams Percent R Indicator values from -80 to -100 are considered as oversold levels.
When overbought and oversold levels it is best to wait for a the price direction to change before trading a signal that is in the opposite trend direction. For Example if the price is oversold it is best to wait for the trend to reverse and start heading in an upwards direction before opening a buy trade.
FX Trend Reversal Signals
The Williams Percent R technical indicator is used to predict a trend reversal signals. The MT5 Williams Percent R Indicator always predict a trend reversal using the following technical analysis method
Bearish Reversal Signal - Williams Percent Range technical indicator forms a peak and turns downwards a few days before the price trend peaks and turns down. The example below shows the Williams Percent R technical indicator giving a trend reversal signal before the price starts to head downwards and change to a downwards trend direction.
Bearish Reversal Signal
Bullish Reversal Signal - Williams Percent Range technical indicator forms a trough and turns upwards a few days before the price trend bottoms out and start to turn upwards.
Bullish Reversal Signal
How to Add MT5 Williams Percent R Indicator in Meta Trader 5 Charts
Step 1: Open MT5 Navigator Panel
Open MT5 Navigator panel as illustrated below: Go to 'View' menu (click), then select 'Navigator' panel (click), or From Standard Tool Bar click 'Navigator' button or press keyboard MetaTrader 5 short-cut keys 'Ctrl+N'
On MetaTrader 5 Navigator window, choose "Indicators", by DoubleClick
How Do I Use MetaTrader 5 William's Percentage R Indicator?
How to Add Williams Percent R MT5 Indicator
Expand the menu by clicking the expand button (+) or double click the 'indicators' menu, after this the button will appear as (-) & will now show a list of MT5 technical indicators as shown below - choose the Williams Percent R indicator from this list of MT5 technical indicators so that you can add the Williams Percent R MT5 indicator in the MT5 chart.
How Do You Use MetaTrader 5 William's Percentage R Indicator?
How Install and Add Custom Williams Percent R Indicator on MetaTrader 5?
If the MT5 indicator that you want to add on the MT5 charts is a custom MT5 indicator - for example if the Williams Percent R indicator that you want to add is a custom MT5 indicator you will need to first add this custom Williams Percent R MT5 indicator in the MT5 platform and then compile this custom Williams Percent R indicator so that this newly added Williams Percent R MT5 custom indicator appears on the custom indicators list on the MT5 trading platform.
To learn how to add Williams Percent R indicators in MetaTrader 5 - how do you add Williams Percent R indicator window to MT5 platform? - how do you add Williams Percent R custom indicator on MT5? - How to add a custom Williams Percent R custom indicator on MetaTrader 5.
How Do You Use MetaTrader 5 Williams Percent R Indicator?
