WPR Support & Resistance Indicator
An Auto Support & Resistance Indicator combined with the Williams Percent Range (WPR) can be an effective tool for traders seeking entry points. The indicator identifies key support and resistance levels based on historical price action, while the WPR, which ranges from -100 to 0, helps determine overbought or oversold conditions. A potential trade entry signal could occur when the price approaches a support or resistance level, and the WPR indicates that the market is overbought (above -20) or oversold (below -80), prompting traders to look for reversal or continuation patterns. Implementing risk management strategies alongside this approach can enhance trading effectiveness.