Multi-Williams Percent Range Trend Indicator
Info
The Multi-Williams Percent Range Trend Indicator is a Indicator for MetaTrader 5 that this indicator calculates values similar to those of the williams percent range indicator for five different periods, presenting them as a histogram. The histogram forms distinct patterns at various stages of the trend.
Usage
This tool is typically used for trend following strategies across multiple currency pairs.
Platform
This Indicator works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Indicators folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use Multi-Williams Percent Range Trend Indicator
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
This indicator calculates values similar to those of the Williams Percent Range indicator for five different periods, presenting them as a histogram.
Typical Use Case
This Indicator excels in trend following on MetaTrader 5.
Compatible Platform & Setup
This Indicator works on MetaTrader 5. Place the file in the MQL5/Indicators folder and restart the terminal.
Description & Settings
Related: williams percent range (%r) - another powerful indicator for MetaTrader 5 traders.
This indicator calculates values similar to those of the Williams Percent Range indicator for five different periods, presenting them as a histogram. The histogram forms distinct patterns at various stages of the trend.Also recommended: Percentage Crossover Channel Indicator - similar indicator with strong performance on MetaTrader 5.
Input Parameters:
- tmode: Mode selection (0 - Fast, 1 - Normal, 2 - Slow).
- inpxcoord: Horizontal shift relative to the lower left corner.
- inpycoord: Vertical shift relative to the lower left corner.
The indicator employs three sets of periods:
- Fast: 30, 15, 10, 8, 6.
- Normal: 60, 30, 20, 15, 12.
- Slow: 120, 60, 40, 30, 24.
You may also like: HL Cross Signal Indicator for Williams Percent Range - excellent alternative for indicator users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.01"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property indicator_chart_window
#property indicator_buffers 0
#property indicator_plots 0
input int tmode=1; // mode: 0 - fast, 1 - normal, 2 - slow
input int inpxcoord=35; // x coordinate
input int inpycoord=0; // y coordinate.......
⚠ 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.