wp r custom
Info
The wp r custom is a Indicator for MetaTrader 5 that the following characteristics were made input parameters:color of the indicator main linewidth of the indicator main linevalues of the two indicator levels why was this done when testing eas using iwpr (williams’ percent range, %r) standard indicator, the picture is always far from promising: the indicator color cannot be changed (#1) and, most importantly, the level values are always the same (#2). at the same time, the ea based on iwpr can use the levels "-25" and "-75", but only the levels that are strictly fixed in the indicator itself ("-20" and "-80") will be shown during visual testing.
Usage
This tool is typically used for enhancing chart analysis and decision making.
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 wp r custom
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 following characteristics were made input parameters:color of the indicator main linewidth of the indicator main linevalues of the two indicator levels why was this done when testing eas using iwpr (williams’ percent range, %r) standard indicator, the picture is always far from promising: the indicator color cannot be changed (#1) and, most importantly, the level values are always the same (#2).
Typical Use Case
This Indicator excels in automated trading and technical analysis 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: custom macd indicator for metatrader 4/5 - another powerful indicator for MetaTrader 5 traders.
the following characteristics were made input parameters:
Also recommended: macd indicator with custom timeframe - similar indicator with strong performance on MetaTrader 5.
color of the indicator main line
width of the indicator main line
values of the two indicator levels
why was this done
when testing eas using iwpr (williams’ percent range, %r) standard indicator, the picture is always far from promising: the indicator color cannot be changed (#1) and, most importantly, the level values are always the same (#2)!
at the same time, the ea based on iwpr can use the levels "-25" and "-75", but only the levels that are strictly fixed in the indicator itself ("-20" and "-80") will be shown during visual testing. this display seemed inconvenient to me, therefore some settings were made to the input parameters.
now, after being called from the ea, the indicator levels exactly match the trading system. example of calling
wpr custom
implemented in the ea, mql5 code
and the result of a display in the strategy tester:
You may also like: custom moving average indicator - excellent alternative for indicator users on MetaTrader 5.
Source Code
/.......
⚠ 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.