The WPR Indicator is a useful and popular free Forex indicator for MT4, or MetaTrader 4, that is used to identify overbought and oversold market conditions. The indicator is based on the Williams Percent Range (WPR) indicator which is also known as the Williams %R. This indicator is used to measure the momentum of price movements in the market and highlight when the price is overbought or oversold. The WPR Indicator is a simple yet powerful tool that can be used by both novice and experienced traders. To use the indicator, you simply need to install it on your MT4 platform and then plot it onto your chart. The indicator works by calculating the current market conditions and then plotting two lines on the chart – one for overbought and one for oversold. When the price is overbought, it will be indicated by a red line and when the price is oversold, it will be indicated by a blue line. This allows traders to quickly identify when the market is overbought or oversold and take action accordingly. It is also free to download and use, making it an affordable and convenient way to improve your trading performance.
MT4
WPR Indicator
The WPR Indicator is one of the most useful and popular Forex indicators available for the MT4 platform. The WPR Indicator shows the current trend of the market and can be used to identify potential entry and exit points for trades. The WPR Indicator is a great tool for traders who want to take advantage of short-term trends in the Forex market.
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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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