Skip to content

WPR Candles Metatrader 5 Forex Indicator

    WPR stands for Williams Percent Range and in this context, the WPR candles Metatrader 5 Forex indicator is a variant of a well-known Williams Percent Range technical indicator.

    The indicator calculates a type of four Williams Percent Range values:

    • Williams Percent Range of Open.
    • Williams Percent Range of Close.
    • Williams Percent Range of High.
    • Williams Percent Range of Low.

    It is the above mentioned four values that get transformed into ‘candles’.

    The formula does not take into account the original Williams percent Range calculation.

    The WPR candles MT5 forex indicator has its formula adjusted to be able to calculate these four values.

    This makes available two noteworthy levels.

    There is the zero level, which is not similar to the original WPR, and can be intersected upwards in this variant.

    The minus one hundred level (-100), which is nothing like the original WPR, but can be intersected downwards in this variant.

    Free Download

    Download the “WPR candles.ex5” MT5 indicator

    Example Chart

    The GBP/USD H1 chart below displays the WPR candles Metatrader 5 forex indicator in action

    Basic Trading Signals

    Buy Signal: Go long when the dodger blue candle of the WPR candles MT5 indicator break above the -100 level.

    Sell Signal: Go short when the crimson candle of the WPR candles Metatrader 5 custom forex indicator break below the zero level.

    Exit buy trade: Close all buy orders if while a bullish trend is ongoing, the dodger blue candle of the WPR candles MT5 indicator close above the zero level.

    Exit sell trade: Close all sell orders if while a bearish trend is ongoing, a crimson candle of the WPR candles Metatrader 5 forex indicator close below the -100 level.

    Tip: Overbought and oversold conditions can be assessed by observing the zero and -100 levels respectively.


    Download the “WPR candles.ex5” Metatrader 5 indicator

    MT5 Indicator Characteristics

    Currency pairs: Any

    Platform: Metatrader 5

    Type: chart window indicator

    Customization options: Variable (WPR period), Colors, width & Style.

    Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month

    Type: oscillator


    Copy and paste the WPR candles.ex5 indicator into the MQL5 indicators folder of the Metatrader 5 trading platform.

    You can access this folder from the top menu as follows:

    File > Open Data Folder > MQL5 > Indicators (paste here)

    Share this post!