Back To The Future: Part III
"Synchronize your watches. The future’s coming back..."
This is the third post in the series about future prediction on the markets. In the first two posts several relevant indicators were described (you may find details in the Part I and Part II). This time the story is about yet another indicator which may be useful for the topic. And it should not be a surprise that the underlying methods are still statistical.
First let us consider the WPR (Williams Percent Range) indicator. I'm sure everyone is familiar with it, but in case you don't - here is its description and source code.
Basically it shows "overbought" or "oversold" states calculated from highs and lows of quotes in the past. What if the same WPR algorithm would be applied in reverse direction for quotes in the future?