The modified Williams' Percent Range indicator. The indicator calculation equation (%R = (MAX (HIGH (i — n)) — CLOSE (i)) / (MAX (HIGH (i — n)) — MIN (LOW (i — n))) * 100) is left intact. Smoothing is added and the range of fluctuations of the indicator is changed. Now the indicator fluctuates in the range from -50 to 50. Overbough/oversold levels are set to 40 and -40, as well as one more significant level 0 is added.
Unlike the free VAWpr indicator, this one also provides the alarm line.
Parameters:
- WPR Period - the indicator period;
- Averaging period - the smoothing period;
- Alert when exiting extreme zones (oversold / overbought) - Enables / disables the issuance of warnings about the exit of the indicator values from the overbought/oversold zone;
- Alert level - Overbought/oversold zone boundary;
