The Extra WPR Indicator for MetaTrader 4 (MT4) is an enhanced version of the popular Williams’ Percentage Range (%R) indicator. It smooths out traditional %R readings to produce cleaner, more reliable trading signals. Designed to highlight overbought and oversold zones, this indicator converts the classic %R’s fluctuating movements into a simplified and actionable crossover system.
By generating clear bullish and bearish crossovers between two smoothed lines, the Extra WPR helps traders identify reversals, trend continuations, and entry points with higher accuracy. It’s a powerful tool suitable for both beginners and experienced traders looking to fine-tune their strategies.
The Extra WPR Indicator operates on the same logic as the Williams %R oscillator — measuring price momentum relative to recent highs and lows — but applies smoothing techniques to reduce noise and false signals.
Instead of a single jagged %R line, the indicator plots two smoothed lines (gold and red) in a separate chart window. These lines move between fixed levels (typically 0 and -100) to display market momentum and trend direction.
When the gold line crosses above the red line, it suggests bullish momentum and potential buy opportunities.
When the gold line crosses below the red line, it signals bearish momentum and potential sell opportunities.
This smoothing makes the indicator ideal for all trading styles — from scalping and intraday to swing and position trading.
The Extra WPR Indicator is simple to interpret yet effective across all timeframes. It can be used as a standalone crossover strategy or as part of a broader trading system.
Wait for the gold line to cross above the red line.
Enter a buy trade after the crossover is confirmed.
Place a stop loss below the recent swing low.
Take profit using a risk-to-reward ratio (e.g., 1:2 or 1:3) or exit on the next opposite crossover.
Tip: Confirm buy signals with bullish price action or support zone tests for improved accuracy.
Watch for the gold line to cross below the red line.
Enter a sell trade following the confirmed crossover.
Place a stop loss above the previous swing high.
Exit the trade when a bullish crossover appears or after reaching your target ratio.
Tip: Confirm sell signals with bearish candlestick patterns or resistance levels.
Smoothed Version of Williams %R: Reduces false signals from market noise.
Dual-Line Crossover System: Easy-to-read bullish and bearish setups.
Multi-Timeframe Compatibility: Works perfectly on M1 to Monthly charts.
Simple Yet Powerful: Suitable for both new and advanced forex traders.
Free and Lightweight: Quick to install and runs smoothly on any MT4 terminal.
To achieve the best results with the Extra WPR Indicator, consider these professional trading practices:
Combine with Price Action: Use candlestick confirmation (e.g., engulfing, pin bar) to validate crossovers.
Use Multi-Timeframe Analysis: Identify the primary trend on higher timeframes (H4 or Daily) and trade entries on lower ones (M15 or H1).
Avoid Flat Markets: The indicator performs best during trending or volatile conditions, not during sideways consolidation.
Pair with Volume or Trend Indicators: Combine with RSI, MACD, or Moving Averages for more robust setups.
In the GBP/USD H1 chart example, the indicator plots the gold and red lines in the subwindow. When the gold line crosses downward, it signals a sell entry. A stop loss can be placed above the previous high, and the trade can be exited when an opposite bullish crossover occurs.
Conversely, when the gold line crosses upward, it suggests a buy opportunity, with a stop loss below the last swing low.
The Extra WPR Indicator for MT4 is a refined, smoother version of the classic Williams’ Percentage Range. It simplifies market analysis by turning overbought and oversold conditions into clear crossover trading signals.
Perfect for scalping, day trading, and swing trading, this tool allows traders to identify turning points with precision. While it can be used on its own, combining it with price action and trend confirmation indicators significantly improves reliability.
Download the Extra WPR Indicator for MetaTrader 4 today and transform your market momentum analysis into precise, actionable trades.
Published:
Nov 05, 2025 10:53 AM
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