How to Add Williams Percent R Indicator on MetaTrader 4 Charts

Step 1: Open Navigator Window on FX Trading Platform

Open Navigator window as shown & illustrated below: Go to 'View' menu (click on it), then select 'Navigator' window (click), or From Standard Tool Bar click the 'Navigator' button or press keyboard short cut keys 'Ctrl+N'

On Navigator window, choose 'Indicators', (Double-Click)

How Do I Add Williams Percent R Indicator on MT4? - Williams Percent R Indicator Setting on MT4

How to Add Williams Percent R Indicator on MetaTrader 4 - MT4 Williams Percent R Indicator

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

Expand the menu by clicking the expand button marker (+) or double click the 'indicators' menu, after this the button will appear as (-) and will now display a list as shown below - select the Williams Percent R forex chart indicator from this list of forex indicators so as to add the Williams Percent R forex indicator on the forex chart.

How to Add Williams Percent R Indicator on the Forex Chart - How Do I Add Williams Percent R Indicator on MT4 Charts?

How to Add Williams Percent R Indicator - From the Above window you can then place Williams Percent R indicator that you want on the Forex chart

How to Add Custom Williams Percent R Indicator to MT4

If the technical indicator you want to add is a custom 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 MT4 platform & then compile custom Williams Percent R indicator so that the newly added Williams Percent R custom indicator pops up on the list of custom indicators in MetaTrader 4 software.

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

About Williams Percent R Technical Indicator Explained

Williams Percent R Technical Analysis and Williams Percent R Signals

Williams %R Technical Indicator Developed by Larry Williams

Williams %R indicator is pronounced as Williams percent R indicator. Williams %R Technical Indicator is a momentum oscillator used to analyze overbought and oversold levels in the forex markets.

The Williams % Range oscillator is similar to the Stochastic Oscillator indicator, apart from that fact that the %R is plotted upside down on a negative scale that is from 0 to -100 and the indicator does not apply a smoothing factor.

Williams Percent R Technical Indicator Settings on MT4 - Williams R MT4 Indicator

Williams %R, Percent R Trading Indicator - Forex Indicators

The Williams %R indicator analyzes the association of the closing prices relative to the High and Low range over a 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 reading will be.
The closer the closing price of a candlestick is to the lowest low of the range selected the closer to -100 the %R reading will be.

When doing technical analysis a trader should ignore the minus sign placed before the value, for example -40, the - sign should be ignored, just remember the indictor values are placed in an upside down manner.

At zero: If the closing price of the candlestick is equal to the highest high of the range the William %R reading will be 0.
At -100: if the closing price of the candlestick is equal to the lowest low of the range the William %R reading will be -100.

Technical Analysis of Williams Percent R Technical Indicator

Overbought/Oversold Levels on Technical Indicator

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

As for trading overbought/oversold 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 currency pair is oversold it is best to wait for the trend to reverse and start to head in an upward direction before buying the currency pair.

FX Trend Reversal Signals

The William %R indicator used to predict a trend reversal signal when trading a currency pair. William % R indicator always predict a reversal using the following technique

Bearish Reversal Signal- Williams Percent Range indicator forms a peak and turns down a few days before the price trend peaks and turns down. The example below shows %R giving a reversal signal before price starts to head down and change to a down trend.

Bearish Reversal Signal - Williams Percent R Indicator Setting in MT4