wp r with bollinger bands
Info
The wp r with bollinger bands is a Indicator for MetaTrader 5 that williams %r, wpr, or just %r, is a technical analysis oscillator showing the current closing price in relation to the high and low of the past n days (for a given n). it was developed by a publisher and promoter of trading materials, larry williams.
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 with bollinger bands
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
williams %r, wpr, or just %r, is a technical analysis oscillator showing the current closing price in relation to the high and low of the past n days (for a given n).
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: SMC Order Block Detector with Alert for MT5 - another powerful indicator for MetaTrader 5 traders.
williams %r
,
wpr
, or just
Also recommended: SAX Forecaster: Predictive Market Analysis with Symbolic Strings - similar indicator with strong performance on MetaTrader 5.
%r, is a technical analysis oscillator showing the current closing price in relation to the high and low of the past n days (for a given n). it was developed by a publisher and promoter of trading materials, larry williams. its purpose is to tell whether a stock or commodity market is trading near the high or the low, or somewhere in between, of its recent trading range.
the oscillator is on a negative scale, from −100 (lowest) up to 0 (highest), obverse of the more common 0 to 100 scale found in many technical analysis oscillators. a value of −100 means the close today was the lowest low of the past n days, and 0 means today's close was the highest high of the past n days. (although sometimes the %r is adjusted by adding 100.)
You may also like: Breakout Distance - Donchian Channel with Distance-to-Trigger Panel in ATR Units - excellent alternative for indicator users on MetaTrader 5.
Source Code
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⚠ 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.