The SM WPR Test Indicator is a useful forex indicator designed for MetaTrader 4 (MT4). This popular and free indicator helps traders analyze market momentum and overbought/oversold conditions. The indicator is based on the Williams Percent Range (WPR) formula, which measures the level of bullish or bearish sentiment in the market. It plots a line that oscillates between 0 and -100, with readings above -20 indicating overbought conditions and readings below -80 indicating oversold conditions. Traders can use the SM WPR Test Indicator to identify potential trend reversals and entry/exit points. By combining this indicator with other technical analysis tools, traders can make more informed trading decisions. To use the SM WPR Test Indicator, simply download and install it on your MT4 platform. Then, apply it to your chart and observe the signals it generates to guide your trading strategy.
MT4
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SM WPR Test
SM WPR Test indicator is a useful forex indicator for MT4 that is popular among traders. This free indicator helps traders identify overbought or oversold conditions in the market. By using the Williams %R formula, it calculates the momentum of price movements. Traders can use this information to make informed trading decisions.
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Category: Stochastic
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How to Install
How install MT4/5 indicator in the terminal?
To install an MT4/5 indicator in the terminal, follow these steps:
Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.
Open the MT4/5 terminal and click on “File” in the top left corner.
Select “Open Data Folder” from the dropdown menu.
In the window that opens, double-click on the “MQL4/5” folder.
Double-click on the “Indicators” folder.
Drag and drop the indicator file from your computer into the “Indicators” folder.
Close the data folder window and restart the MT4/5 terminal.
The indicator should now be available in the “Navigator” window on the left-hand side of the terminal. Simply double-click on the indicator to add it to a chart.
Note: If the indicator is in a .zip file, you will need to extract it first before following the above steps.
And if asks to confirm DLL?
If the indicator you are installing requires access to external Dynamic Link Libraries (DLLs), you may see a pop-up message asking you to confirm the use of DLLs.
DLLs are external libraries that contain code that can be used by other programs. In the case of MT4/5 indicators, they are often used to perform complex calculations or connect to external data sources.
If you trust the source of the indicator and want to use it, click “Yes” to confirm the use of DLLs. If you are not sure or do not trust the source, click “No” to cancel the installation.
It’s worth noting that some indicators may not work properly without access to their required DLLs. If you choose not to allow access to DLLs and the indicator does not work as expected, you may need to reinstall the indicator and confirm the use of DLLs to get it to work properly.
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