williams band
Info
The williams band is a Indicator for MetaTrader 4 that the strategy involves buying at the price of the 3-bar moving average of lows and closing the position at the 3-bar moving average of highs. parameters:- extern bool ifhour = true; // hourly band- extern bool ifday = false;- extern bool ifweek = false;- extern bool ifmonth = false;- extern bool ifhour = false; - extern bool ifday = true; // daily band- extern bool ifweek = false;- extern bool ifmonth = false;- extern bool ifhour = false; - extern bool ifday = false; - extern bool ifweek = true; // weekly band- extern bool ifmonth = false;- extern bool ifhour = false; - extern bool ifday = false; - extern bool ifweek = false; - extern bool ifmonth = true; // monthly bandchange log29.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Indicators folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use williams band
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
the strategy involves buying at the price of the 3-bar moving average of lows and closing the position at the 3-bar moving average of highs.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Indicator works on MetaTrader 4. Place the file in the MQL4/Indicators folder and restart the terminal.
Description & Settings
Related: B Bands Psar Indicator - another powerful indicator for MetaTrader 4 traders.
the strategy involves buying at the price of the 3-bar moving average of lows and closing the position at the 3-bar moving average of highs.Also recommended: williams b indicator: a multidimensional approach to trading signals - similar indicator with strong performance on MetaTrader 4.
parameters:
- extern bool ifhour = true; // hourly band
- extern bool ifday = false;
- extern bool ifweek = false;
- extern bool ifmonth = false;
- extern bool ifhour = false;
- extern bool ifday = true; // daily band
- extern bool ifweek = false;
- extern bool ifmonth = false;
- extern bool ifhour = false;
- extern bool ifday = false;
- extern bool ifweek = true; // weekly band
- extern bool ifmonth = false;
- extern bool ifhour = false;
- extern bool ifday = false;
- extern bool ifweek = false;
- extern bool ifmonth = true; // monthly band
change log
29.11.2026
//--- external
- extern bool alert = true;
- extern bool showdispersia = true; // added dispersion deviation
- extern bool buffer = false; // added buffer for those who want to use the indicator in the advisor buffer=true;
- extern bool ifhour = true;
- extern bool ifhour4 = false;
- extern bool ifday = false;
- extern bool ifweek = false;
- extern bool ifmonth = false;
- extern color colorbandup = blue;
- extern color colorcenter = green;
- extern color colorbanddw = red;
for use in the advisor:
for(int i=0; i
double val=icustom(null,0,"!williamsband",false,false,true,true,false,false,false,false,0,i); // band up
double val=icustom(null,0,"!williamsband",false,false,true,true,false,false,false,false,2,i); // band dw
}
You may also like: keltner at r bands - excellent alternative for indicator users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property indicator_chart_window
#property indicator_buffers 3
#property indicator_color1 blue
#property indicator_color2 green
#property indicator_color3 red
extern bool alert=true;
extern bool showdispersia=true;
extern bool buffer=false;.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.