High accuracy “Forex TrigerLines Trading System with Williams’ Percent Range Filter“. TriggerLine MT4 indicator determines the entry and exit from the market. Williams’ Percent Range Technical Indicator (%R) is a dynamic technical indicator, which determines whether the market is overbought/oversold.
An interesting phenomenon of the Williams’ Percent Range indicator is its uncanny ability to anticipate a reversal in the underlying security’s price.
- Time Frame: M30 or higher
- Currency Pairs: any
- Williams’ Percent Range
- Download “TraderVersity.Com-TriggerLinesWPR” (Zip/RAR File).
- Copy mq4 and ex4 files to your Metatrader Directory …/experts/indicators/
- Copy the “TraderVersity.Com-TriggerLinesWPR.tpl” file (template) to your Metatrader Directory …/templates /
- Start or restart your Meta Trader Client.
- Select Chart and Time frame where you want to test your Forex system.
- Right-click on your trading chart and hover on “Template”.
- Move right to select “TraderVersity.Com-TriggerLinesWPR trading system and strategy
- You will see “Forex TriggerLines Trading System ” is available on your Chart
- TriggerLines: blue
- Williams’ Percent Range: upward above the -50 level from oversold area
- TriggerLines: red
- Williams’ Percent Range: downward below the -50 level from overbought area
As with any technical indicator, a Williams Percent Range chart will never be 100% correct.
False signals can occur, but the positive signals are consistent enough to give a forex trader an “edge”.
Skill in interpreting and understanding Williams Percent Range signals must be developed over time, and complementing the %R tool with another indicator is always recommended for further confirmation of potential trend changes.