Vinini WPR Oscillator Indicator uses William’s Percentage range to determine the trend’s direction. The indicator, which is called an oscillator, finds overbought or oversold levels. The indicator is a single line that fluctuates between -100 to +100. This single line uses the William Percentage Range calculations. If the indicator is lower than -60, it’s in oversold territory. The indicator above 60 indicates that it is in the overbought area.
Vinini WPR Oscillator BUY/SELL signals
The GBP/USD 4H chart above shows the indicator’s BUY and SELL signals. To identify the direction of the trend, traders will need to identify levels that are overbought or oversold.
The indicator is considered to be in the overbought area if it is higher than 60 This is where traders must either enter short or exit long positions. In the opposite situation, if the indicator is below 60, it is considered to be in the oversold area. In such a scenario, traders should enter long positions and then exit them quickly.
For further confirmation of signals, traders can use other indicators in addition to the Vinini WPR oscillator indicator.
Vinini WPR Oscillator indicator for MT4 functions as a regular oscillator, and indicates the trend’s direction. To determine the entry and exit points, it plots one MA line on the chart. You can also download the indicator free of charge from our website.