How to Set William % R Indicator on MetaTrader 4 Charts

Step 1: Open the Navigator Panel on Trading Software Platform

Open Navigator window just as shown & illustrated below: Go to 'View' menu (press on it), then select 'Navigator' window (press), or From Standard Toolbar click 'Navigator' button or press key board short-cut keys 'Ctrl+N'

On Navigator window, choose and select 'Indicators', (Double Press)

How Do I Add William % R Indicator on the MT4? - Williams % R Setting on MT4

How Do I Add William % R Indicator in MetaTrader 4 Platform - MT4 Williams % R Indicator

Step 2: Expand the Indicators Menu on the Navigator - Adding Williams Percent R MT4 Indicator

Expand this menu by pressing the open(+) tool label mark " + " or doubleclick the 'indicators' menu, after that this particular button will appear and be shown as (-) & will now display a list like as shown below - select the Williams Percent R chart indicator from this list of indicators so as to add the Williams Percent R indicator to the chart.

How to Set William % R Indicator on the Chart - How Do You Add William % R Indicator on MetaTrader 4 Charts?

How Do You Add William % R Indicator - From the Above window you as a trader can then place Williams Percent R indicator that you as a trader want on the chart

How to Set Custom Williams % R to MT4

If the indicator you want to add is a custom technical indicator - for example if the Williams Percent R technical indicator you want to add is a custom indicator you will need to first add this custom Williams Percent R indicator on the MetaTrader 4 software and then compile the custom Williams Percent R indicator so that as the newly added Williams Percent R custom indicator pops up on the list of custom technical indicators in MetaTrader 4 Platform Software.

To learn how to install Williams Percent R indicators on the MT4, how to add Williams Percent R indicator window to MT4 and how to add Williams Percent R custom indicator on MetaTrader 4 - How to add a custom Williams Percent R indicator in the MT4.

About Williams Percent R Technical Indicator Example Explained

William Percent R Analysis and William Percent R Signals

William % R Technical Indicator Developed by Larry William

Williams % R is pronounced as William's percent R trading indicator. William % R Technical Indicator is a momentum oscillator used to analyze and interpret over-bought and oversold levels in the markets.

The William's % Range oscillator is similar to the Stochastic indicator, apart from that fact that the % R is plotted upside down on a negative scale that's from 0 to -100 and the trading indicator doesn't apply a smoothing out factor.

William Percent R Technical Indicator Settings on MetaTrader 4 - Williams R MT4 Indicator

William % R, Percentage R Indicator - Indicators

The William's % R trading indicator analyzes the association of the closing prices in relation to the High and Low range over a chosen and selected number of n candles.

The closer the closing price of a candlestick is to the highest high of the range selected the closer to zero the % R value will be.
The closer the closing price of a candle is to the lowest low of the range chosen the closer to -100 the % R value will be.

When doing technical analysis a fx trader should ignore the minus(-) sign placed before the value, e.g. -40, the - sign should be ignored, just remember the 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 range the Williams Percent R value will be 0.
At -100: if the closing price of the candle is equivalent to the lowest low of the range the Williams Percent R value will be -100.

Analysis of William's Percent R Indicator

Overbought/Over-sold Levels in Indicator

Overbought- Williams % R values from 0 to -20 are regarded and considered overbought while
Oversold- William's % R values from -80 to -100 are regarded and considered oversold.

As for over-bought/over-sold levels it is best to wait for a currency pair to change direction before taking a signal in the opposite direction. For Example if a forex pair is over-sold it is best to wait for the trend to reverse & start to head in an upwards direction before buying the forex pair.

Trend Reversal Signals

The William's % R indicator used to predict a price trend reversal setup when trading a currency pair. William % R trading indicator always predict a reversal using the following method

Bearish Reversal Signal- Williams % Range indicator forms a peak & turns down a couple of days before the market trend peaks and turns down. The illustration put on display below shows % R giving a reversal setup before price starts and begins to head down & change to a downtrend.

Bearish Reversal Signal - Williams % R Setting in MT4