DAT WPR is a free custom built mt4 (Metatrader 4) oscillator type indicator that identifies overbought and oversold market conditions for any pair.
WPR stands for “Williams’ Percent Range”.
The indicator appears in a separate MT4 chart window as a mix of colored signal lines that oscillate above and below the 0 and 105 extreme borders.
DAT WPR can be used in various ways.
Buy & sell example:
- Open a buy trade as soon as the WPR indicator crosses back above the 20 oversold value from below and the overall trend is upwards.
- Open a sell trade as soon as the WPR indicator crosses back below the 80 overbought value from above and the overall trend is downwards.
Free Download:
Download the “dat-wpr-indicator.mq4” indicator for MT4
Indicator Example Chart (EUR/USD H1)
The example chart below displays the DAT WPR mt4 indicator in action on the trading chart.
Tips:
Feel free to use your own favorite trade entry, stop loss and take profit strategy to trade with the custom built DAT WPR Forex indicator.
As always, trade in agreement with the overall trend and practice on a demo account first until you fully understand this indicator.
Please note that even the best trading indicator cannot yield a 100% win rate over long periods.
Indicator Specifications & Inputs:
Trading Platform: Developed for Metatrader 4 (MT4)
Currency pairs: Works for any pair
Time frames: Works for any time frame
Trade Style: Works for scalping, day trading and swing trading
Input Parameters: Variable (inputs tab), color settings & style
Indicator type: WPR
Does it repaint? No.
Download Now:
Download the “dat-wpr-indicator.mq4” indicator for Metatrader 4
How to install this indicator on Metatrader 4?
Open the Metatrader 4 platform
From the top menu, click on “File”
Then click on “Open Data Folder”
Then double click with your mouse button on “MQL4”
Now double click on “Indicators”
Paste the dat-wpr-indicator.mq4 indicator in the Indicators folder.
Finally restart the MT4 platform and attach the indicator to any chart.
How to remove the indicator?
Click with your right mouse button in the chart with the indicator attached onto it.
Select “Indicator List” from the drop down menu.
Select the indicator and press delete.
How to edit the indicator’s inputs and parameters?
Right click with your mouse button in the chart with the indicator attached onto it.
From the drop down menu, click on indicators list.
Select the indicator from the list and press edit.
Now you can edit the indicator.
Finally, press the OK button to save the updated configuration.