Williams%Range Moving Average alerts indicator for FOREX tradinAllTheUpsTheresAlwaysDowns" ☆ATUTAD☆
// Williams%Range Moving Average alerts indicator for FOREX trading.
This indicator is provided for you to use it as agreat plot next to the knowledge and strategy you may have already created.
The soul ideal is the 40 period williams % range indicator with overbought level at -20 , oversold at -80 and buy range above the -50 and sell range below.
In the use of a wpr on your trading chart its most defitnatly that you will find divergences formed when the wpr has crossed above, been above, crossed below and above with a lower high reached. Indicating such "divergence" for an overbought momentum in "confluences" meaning it is matching with the price movement on the main chart having a higher reach than it just was candles back.
This same thought proces and visual sighting occurs when the wpr has and after the crossing below the oversold at -80.
*While in some hours of days there may not form a divergance but a retest or trendreversal.
The indicator gives yellow triangles above the candle bar for overbought momentems and Blue trianges below at oversolds.
*Be free to fine tune your period vision with its respective oversold and overbought action.
The -50 will most often gives the trend direction by cause of crossing above "bullish trend. Bearish trend" for crossing below.
Whit this logic a moving average trend is visual and triangles are formed above or below the candle bars signaling the current trend.
An 2nd moving average is for use as extra conformation of a trend direction or to the short term reversals. Also adding value to the background color but in confluences of the oversold signals.
There are labels for the session open and ending without the names but certainly for;
Tokyo.@0200-1000
London.@0600-1700
New York.@1400-2300
((Amsterdam UTC+2 time))
and the current bar of the particular session start or end haves a diffrent visual to.
The use of the 4 alerts;
buyCALL
sellCALL
OVERbought
OVERsold
is provided with message indicating timechart(for you to fill in M..),
the price value and time.
*The any alert() function call provides alerts for the session start/end.
Overall, one great indicator.
