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Williams Percent Range (WPR)
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Williams Percent Range (WPR) is a momentum indicator that can be used to identify where a security might be overbought or oversold. The indicator line oscillates on the scale from 0 to -100 with overbought and oversold levels at -20 and -80 respectively. WPR is calculated as a ratio between the closing price of a security and the high/low range over a specific period.
WPR = (Highest High - Close) / (Highest High - Lowest Low) * -100
INPUTS
Input | Description |
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Length | The number of bars used to calculate RSI |
Overbought | The price to fix the overbought level at |
Oversold | The price to fix the oversold level at |
PLOTS
The plot renders the data you are working with on the chart. You can show/hide a plot by clicking the corresponding item in the settings. Every plot has a set of basic settings that you can change: color, weight, and type.
Plot | Description |
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WPR | The Williams Percent Range plot |
OverSold | The oversold level |
OverBoughtSold | The overbought level |
Color |
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Click the color rectangle under the plot's name to open the palette. Use the slider at the bottom to set the opacity of the color. To create a custom color:
The custom-created colors are added to your palette. To remove a custom color, drag it out of the palette. |
Weight |
Change the value (in px) to adjust the thickness of the plot. |
Type |
The following plot types are available:
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OVERLAYING
Check Overlaying to display the indicator on the chart. Otherwise, the indicator is shown in a study pane down below.