Williams %R Calculation Class for MetaTrader 5
Info
The Williams %R Calculation Class for MetaTrader 5 is a Library for MetaTrader 5 that the cwpronarray class is designed for calculating williams %r on indicator buffers. Usage:The init() method is called within the indicator function with the following parameters:int aperiod: The indicator period.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Library works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Libraries folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use Williams %R Calculation Class for MetaTrader 5
1. Storage: Place library files in the MQL/Libraries directory to ensure they are accessible to your projects.
2. Implementation: Include the library in your code using the #import directive, ensuring you match the exact function names and parameters.
3. Compilation: Ensure the library is present in the directory before you compile your main EA or script, as the compiler links them during this phase.
4. Management: Keep libraries organized in sub-folders if you manage many custom functions to maintain a clean project structure.
Frequently Asked Questions
Q: What is a library file used for? A: Libraries store reusable code modules, allowing you to centralize common logic used by multiple EAs or indicators.
Q: Is a library executable? A: No, libraries are non-executable files containing functions; they must be imported into an EA, indicator, or script to function.
Q: Can I update a library while the platform is running? A: You should compile your EA or script after updating a library to ensure the latest code changes are integrated.
What this tool does
The CwprOnArray class is designed for calculating Williams %R on indicator buffers.
Typical Use Case
This Library excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Library works on MetaTrader 5. Place the file in the MQL5/Libraries folder and restart the terminal.
Description & Settings
Related: Moving Average Calculation on Array Data - another powerful library for MetaTrader 5 traders.
The CwprOnArray class is designed for calculating Williams %R on indicator buffers.Also recommended: ATR Calculation Array Class for MetaTrader 5 - similar library with strong performance on MetaTrader 5.
Usage:
The init() method is called within the indicator function with the following parameters:
int aperiod: The indicator period.
The solve() method is called within the function with the following parameters:
const int aratestotal: The rates_total variable from the oncalculate() function parameters.
const int aprevcalc: The prev_calculated variable from the oncalculate() function parameters.
double adatahigh[]: The buffer containing the high data for indicator calculation.
double adatalow[]: The buffer containing the low data for indicator calculation.
double adataclose[]: The buffer containing the close data for indicator calculation.
double awpr[]: The buffer for the calculated Williams %R value.
Additional Methods:
int barsrequired(): Returns the minimum number of bars required for calculation.
string name(): Returns a string with the indicator name.
The test_wpronarray.mq5 file is an example indicator demonstrating the usage of the CwprOnArray class. The incwpronarray file should be placed in the MQL5\Include\Inconarray directory of your terminal data folder (the Inconarray folder needs to be created if it does not exist).
Williams %R is a momentum indicator that provides an indication of market overbought or oversold conditions. It is very similar to the Stochastic Oscillator, with the main differences being an inverted scale and internal smoothing applied to the Stochastic.
You may also like: Average Directional Movement Index (ADX) Calculation Class for MQL5 - excellent alternative for library users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.00"
#property indicator_separate_window
#property indicator_minimum -100
#property indicator_maximum 0
#property indicator_buffers 4
#property indicator_plots 1
#property indicator_label1 "label1"
#property indicator_type1 draw_line.......
⚠ 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.