Williams Conditional Range

Williams Conditional Range

The Williams Conditional Range (WCR) is a technical analysis indicator used to determine the oversold / overbought condition of the market by examining the position of the closing price in a given range formed by the extremes in the past and looking for divergences that indicate the likelihood of a reversal. It allows you to assess whether buyers or sellers have had a stronger influence on the price over a certain period of time, and to suggest further developments. The indicator is easy to interpret.
      Setting:
W-line Period = 9, default.
     Signals:
• overbought - above "100" / oversold - below "-100"
• position relative to the zero level line;
• divergence / convergence.

     https://www.mql5.com/en/users/meijin/seller