Theory:
I came across a neat idea online that I think you’ll find useful. Originally created for a different trading platform by a user named "capissiomo", this indicator combines the Williams Percent Range (WPR) with a corresponding CCI (Commodity Channel Index) for confirmation. What’s cool is that it displays the CCI as a colored background, which indicates the trend—whether the CCI is above 80, below -80, or somewhere in between. This way, you can easily gauge the trend using both indicators in one glance.
Usage:
You can leverage this indicator to generate trading signals based on the values and the colors presented. It’s a straightforward way to enhance your analysis!
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