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WPR On Chart Smooth Arrows

WPR On Chart Smooth Arrows Alerts MT4 Indicator is suitable for multiple trading strategies. Change of slope, mid line crossover, overbought and oversold level trading is possible using this indicator. Use the MTF of have a higher time frames perspective or use the higher time frame analysis on the current chart.

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Description

The WPR On Chart Smooth Arrows MT4 indicator provides buy and sell forex trading signals and alerts using the WPR indicator.  It uses a smooth filter to reduce choppy up and down signals of the WPR. Additionally, forex traders can use higher time frames on the current chart for MTF – Multi time frame trading strategy.

Features of WPR On Chart Smooth Arrows Alerts MT4 Indicator

WPR – William’s percent range indicator is a momentum indicator and compares the last closing price to the high and low to determine the momentum. This indicator plots the WPR oscillator on the price chart for better technical analysis.

The indicator plots a mid line which is the 14 period WPR. Additionally, it plots two upper band and 2 lower bands using the high and low values. As a result, the indicator resembles a Bollinger band with a mid line and 2 outer bands.

To smooth the signals of the William’s percentage the indicator uses a moving average. The moving average changes to green in a bullish market and to red in a bearish price trend.

There are multiple methods to trade using this indicator.  Firstly, traders can enter and exit the markets if the slope of the moving average changes color. Secondly, if the moving average line crosses the mid line upwards, it indicates a bullish trading signal. The opposite is a bearish trading signal to open a sell trade.

Thirdly, traders can enter the markets based on the overbought and oversold condition of the WPR indicator. By default the good overbought and oversold values of this oscillator are at 80 and 20 respectively.

Finally, traders can hide the indicator from the chart by clicking on the WPR on/ off button without removing the indicator from the price chart.

Benefits of WPR On Chart Smooth Arrows Alerts MT4 Indicator

The main benefit of this indicator is the filter and the smoothing of the arrows. As a result, the indicator provides profitable buy and sell forex trading signals. The visual arrow based forex trading signals are very beneficial for new and advanced forex traders.

In fact, the indicator is versatile and provides multiple methods to derive trading signals to suit the trading style of a technical trader. Furthermore, the possibility for multi time frame analysis helps traders to understand the market in a higher time frame perspective.

The indicator works well in all intraday as well as the daily, weekly and monthly price charts.

Indicator Settings Description

TimeFrame: Chart time frame for indicator calculation.

WprPeriod:, WprPhase:, WprDouble: Input for William’s percentage range.

Price: Type of price.

SmoothLength:, SmoothPhase:, SmoothDouble: Arrow smoothing settings.

AtrLength: ATR length.

overbought:, oversold: Minimum overbought and oversold values of the WPR to trigger trading signal alerts.

arrowsVisible:, arrowsOnFirst:, arrowsOnSlope:, arrowsOnMaCross: Enables arrows for different signals.

arrowsUpColor:, arrowsDnColor:, arrowsUpCode:, arrowsDnCode: arrowsSize: Color, shape and size of arrows.

alertsOn:, alertsOnCurrent:, alertsOnSlope:, alertsOnMaCross:, alertsMessage:, alertsSound:, alertsNotify:, alertsEmail:, soundFile: Alert settings.

Multicolor: Color of indicator line.

Btn_Offset_x:, btn_Offset_y:, btn_Width:, btn_Height:, btn_FontSize: WPR indicator ON / OFF button settings.

inpSelection:, Interpolate: Enables interpolation.

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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:

  1. Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.

  2. Open the MT4/5 terminal and click on “File” in the top left corner.

  3. Select “Open Data Folder” from the dropdown menu.

  4. In the window that opens, double-click on the “MQL4/5” folder.

  5. Double-click on the “Indicators” folder.

  6. Drag and drop the indicator file from your computer into the “Indicators” folder.

  7. Close the data folder window and restart the MT4/5 terminal.

  8. 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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