Topic: New Indicator: Amplified William Percent Range
I tried to develop this new indicator, I called it Amplified Williams' Percent Range, because basically it's a William Percent Range (WPR) indicator with some modification. The idea is to amplify the swinging up and down characteristic of WPR by multiplication with exponential ratio:
y = (e^(2*x)-1)/(e^(2*x)+1)
x is the WPR input
y is the Amplified WPR
2 is the Amplification factor
The effect of this multiplication is the swinging rate of the WPR indicator become faster and the ripple on the overbought or oversold zone is smaller. We can increase the amplification factor toward a bigger number. The more the amplification the faster the WPR will swing up or swing down, and the ripple on the overbought and oversold zone is smaller. See the image below.
Attached are the source code. If you do make a great strategy based on this indicator please share with us. Thanks.