Delta_WPR – indicator for MetaTrader 5

  • Platform: Metatrader5
  • Currency pairs: Any pairs, indices and metals
  • Trading Time: Around the clock
  • Recommended broker: icmarkets, XM
  • Real author:

    Tor

    Trend analyzer based on the difference of two WPR oscillators with different periods.

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    The indicator will be useful for those who analyze two WPR indicators with different periods (fast and slow), their relative positions, as well as the location of the slow WPR relative to the specified level (for example, 50).

    That is, if the slow WPR is greater than 50, and the fast WPR is greater than the slow WPR — paint the histogram in overbought color.

    If the slow WPR is less than 50, and the fast WPR is less than the slow WPR — paint the histogram in oversold color.

    Al settings can be customized: colors, signal level (-50), periods of the slow and fast WPR, histogram display type.

    //+----------------------------------------------+
    //| Indicator input parameters                   |
    //+----------------------------------------------+
    input TypeGraph            TypeGr=Histogram; // Type graph
    input uint                 WPRPeriod1=14;    // Fast WPR Period
    input uint                 WPRPeriod2=30;    // Slow WPR Period
    input int                  Level=-50;        // Signal Level
    input int                  Shift=0;          // Horizontal indicator shift in bars
    

    The indicator has 5 buffers that can be used at your discretion.

    • 0 — Indicator buffer;
    • 1 — color indicator buffer with three color states;
    • 2 — WPR fast;
    • 3 — WPR slow;
    • 4 — Difference between two WPR (MACDWPR).

    Fig1. Full histogram of the Delta_WPR indicator

    Fig1. Full histogram of the Delta_WPR indicator

    Fig.2. Shortened histogram of the Delta_WPR indicator

    Fig.2. Shortened histogram of the Delta_WPR indicator

  • How to install MT5 indicator?
  • 1. On the desktop, double-click to open the MT45 trading platform software you installed.
  • 2. Click on “File” in the upper left corner – “Open Data Folder”, double-click the MQL5 folder, and double-click the Indicators folder
  • 3. Copy the metrics you need to install to the Indicators folder
  • 4. Open MT5, find “Navigator” in the display menu, then click “Technical Indicators” of “Navigator” and right click to refresh, you will see the indicator just copied.
  • 5. In the “Technical Indicators” of “Navigator”, find the indicator file just installed, double click or click manually to the chart window
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