WR B
This software component for MetaTrader 4 is built to enhance the capabilities of your trading environment. This technical indicator acts as a specialized analysis tool designed to visualize market data. It helps traders identify emerging trends, momentum shifts, and key support or resistance levels by plotting statistical calculations directly onto price charts.
How to Setup and Use WR B
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.
Description & Settings
Akif TOKUZ
The indicator detects and marks the WRB (Wide Range Bars) or candlesticks with Wide Range Bodies. Because WRBs are not useful themselves, the indicator also determines hidden gaps based on these bars. It shows filled and unfilled hidden gaps differently, so you can quickly get the current situation. You can also turn on notifications about price entering the unfilled gap area.
Input Parameters:
UseWholeBars
(by default = false) — if true, the indicator searches for Wide Range Bars instead of Wide Range Bodies.
WRB_LookBackBarCount
(by default = 3) — how many bars to compare to determine WRB. The higher this price, the rarer and more significant WRBs will be.
WRB_WingDingsSymbol
(by default = 115) — text symbol code to designate WRBs. By default, a small rhombus is used.
HGcolor1
(by default = clrDodgerBlue) — first (and default) hidden gap rectangles color.
HGcolor2
(by default = clrBlue) — second color for hidden gap rectangles.
HGstyle
(by default = STYLE_SOLID) — line style for drawing hidden gap rectangles.
StartCalculationFromBar
(by default = 100) — number of bars in chart history to analyze to mark WRBs and hidden gaps.
HollowBoxes
(by default = false) — if true, the hidden gap rectangles will be without filling.
DoAlerts
(by default = false) — true turns on notifications about price entering a hidden gap area.
