WPR - Williams Percent Range overbought oversold and timing (MT4)

WPR - Williams Percent Range is a fast momentum oscillator scaled from 0 to -100. Readings above -20 show overbought, below -80 show oversold. It is excellent for pullback timing, breakout validation and divergence on MetaTrader 4.

What it shows

• -20 zone: overbought pressure - look for rejection and crosses down.
• -80 zone: oversold pressure - look for rejection and crosses up.
• Divergence: price makes HH or LL while WPR fails to confirm.
• Optional alerts on band crosses, midline crosses and WPR slope flips.

Trade ideas

1. Trend pullback: in an uptrend, buy when WPR rejects -80 and crosses -50 upward. Mirror for downtrend.
2. Range fades: sell near -10 to -20, buy near -80 to -90 with clear range structure.
3. Breakout filter: trade breakouts only when WPR stays on the confirming side after the break.
4. Multi TF: bias from H1-H4, entries on M5-M15 when WPR flips with price.

Inputs that matter

• Period (classic 14).
• Levels: -20 and -80 or custom bands.
• Smoothing and applied price if available.
• Alerts for band and midline events.

Suggested usage

• M5-M15: pullbacks and exits.
• M30-H4: swing continuation and failed tests.
• Daily+: regime bias and risk trimming.

Installation (MT4)

1. Open MetaTrader 4 - File - Open Data Folder.
2. Copy WPR.ex4 to MQL4/Indicators.
3. Restart MT4 or refresh Navigator and attach WPR - Williams Percent Range.
4. Adjust inputs - OK.

FAQ

Does it repaint? No on closed bars.
Why negative scale? WPR is measured from 0 to -100 by design.
Use in EAs? Yes, via iCustom.

Disclaimer: Always test on a demo first - risk management matters.