WPRSI Signal Indicator
Info
The WPRSI Signal Indicator is a Indicator for MetaTrader 5 that wprsi signal indicatorthis indicator provides trading signals using colored arrows displayed directly on the chart. The signals are derived from the Williams Percent Range (WPR) and Relative Strength Index (RSI) technical indicators.
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 WPRSI Signal 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
WPRSI Signal IndicatorThis indicator provides trading signals using colored arrows displayed directly on the chart.
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: Line Master: Advanced Trend Lines with Change Signals - another powerful indicator for MetaTrader 5 traders.
WPRSI Signal IndicatorAlso recommended: Inversion Fair Value Gaps Indicator with Bounce Signals - similar indicator with strong performance on MetaTrader 5.
This indicator provides trading signals using colored arrows displayed directly on the chart.
The signals are derived from the Williams Percent Range (WPR) and Relative Strength Index (RSI) technical indicators.
Buy signals are indicated by lime-colored up arrows when both WPR is greater than -20 and RSI is greater than 50.
Sell signals are indicated by magenta-colored down arrows when both WPR is less than -80 and RSI is less than 50.
Input Parameters:
- wprsiperiod: Sets the period for both the WPR and RSI calculations.
- filterup: Defines the verification depth for the WPR > -20 crossing condition.
- filterdn: Defines the verification depth for the WPR < -80 crossing condition.
This indicator was originally developed for MQL4 and was first published on mql4.com on September 5, 2026.
You may also like: Heiken Ashi ATR Blend: Smoothed Candles and Early Entry Signals - excellent alternative for indicator users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.00"
#property indicator_chart_window
#property indicator_buffers 2
#property indicator_plots 2
#property indicator_type1 draw_arrow
#property indicator_color1 magenta
#property indicator_width1 4
#property indicator_label1 "wprsi signal sell".......
⚠ 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.