This is two different indicators combine into one.
First is the two different period of Williams% 5 mins and 15 mins. Second is the MACD line of 5 mins chart. Both will be primarily use on the 5 mins chart, you can use on another time frame if you wish
Williams %:
green = uptrending red = downtrending
Bright green: overbought condition, look to Short at the end of the signal Bright Red: oversold condition, look to Long at the end of the signal
MACD: I also added the MACD line which you can use for divergence when price move higher and MACD is moving down, expecting price to drop sometime soon or vice versa. See chart for example.
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publications is governed by House rules. يمكنك جعله مفضلاً لاستخدامه على الرسم البياني.
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