Hey there, fellow traders! Today, we’re diving into the world of the Volatility Adjusted Williams Percent Range (WPR) indicator for MetaTrader 5. This handy tool helps you navigate market volatility without getting lost in the noise.
So, what’s the deal with this volatility adjustment? Well, the adjustment is based on a concept called 'simple volatility,' which is already baked into the code of this indicator, so you don’t have to worry about it!
There are two key differences in this version compared to the original WPR:
- To keep things neat and tidy, the histogram is displayed without using two extra buffers; this means the value of WPR is shifted up by +50.
- It includes a smoothing feature, as the original WPR can be a bit 'jittery.' This new version allows for low lag smoothing to give you cleaner results. If you're not a fan of smoothing, simply set the smoothing period to 1 or less to turn it off.
Just to illustrate why this smoothing feature is a game changer, let’s take a look at three instances of WPR:
- The top line shows the smoothed volatility adjusted WPR.
- The middle line displays the volatility adjusted WPR without smoothing.
- The bottom line represents the 'regular' WPR.
Now, which one would you trust for your trading decisions based on that chart?
Happy trading, and may your charts be ever in your favor!
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