The WPR T3 MTF with alerts & arrows indicator for Metatrader 4 is composed of the WPR with T3 technical indicators and it provides buy & sell signals.
It’s an enhanced version of the classic WPR T3 indicator.
It includes overbought and oversold signal arrows + MTF (multi-time frame analysis) ready.
Key Points
- Identifies overbought and oversold levels
- Beginner friendly
- Works on all time frames.
- Well worth adding to your indicator collection
This indicator can work together with any existing trading strategy or system as an oversold/overbought technical tool.
Free Download
Download the “Wpr T3 (mtf + alerts + arrows).ex4” MT4 indicator
Indicator Example Chart
The USD/JPY 1-hour chart below shows the WPR T3 MTF With Alerts & Arrows Forex indicator in action.
Trading Signals
BUY:
- A buy signal is given when the green WPR T3 signal arrow appears on the chart and the underlying trend is upward.
- Set stop loss below technical support.
- Exit the buy trade for a predetermined profit target or wait for a sell signal.
SELL:
- A sell signal is given when the red WPR T3 signal arrow appears on the chart and the underlying trend is downward.
- Set stop loss at technical resistance.
- Exit the sell trade for a predetermined profit target or wait for a buy signal.
Download Now
Download the “Wpr T3 (mtf + alerts + arrows).ex4” MT4 indicator
Trading Strategy: WPR T3 MTF with 200 SMA Confirmation
This strategy integrates the WPR T3 MTF with Alerts & Arrows Indicator with the 200-period Simple Moving Average (SMA) to identify high-probability trading opportunities.
The WPR T3 MTF provides overbought and oversold signals, while the 200 SMA serves as a trend filter, ensuring trades are taken in the direction of the prevailing trend.
Strategy Overview
- Time Frame: 15-minute (M15) or 1-hour (H1) charts
- Currency Pairs: Major pairs (e.g., EUR/USD, GBP/USD)
- Indicators Used:
- WPR T3 MTF with Alerts & Arrows Indicator (default settings)
- 200-period Simple Moving Average (SMA)
Entry Criteria
Buy Signal
- Price is trading above the 200 SMA, indicating an uptrend.
- The WPR T3 MTF indicator displays a blue upward arrow, signaling an oversold condition and potential upward reversal.
- Enter a buy trade at the close of the signal candle.
Sell Signal
- Price is trading below the 200 SMA, indicating a downtrend.
- The WPR T3 MTF indicator displays a red downward arrow, signaling an overbought condition and potential downward reversal.
- Enter a sell trade at the close of the signal candle.
Trade Management
- Stop Loss: Place a stop loss a few pips below the recent swing low for buy trades, or above the recent swing high for sell trades.
- Take Profit: Aim for a risk-to-reward ratio of at least 1:2, or exit the trade when the WPR T3 MTF indicator provides an opposite signal.
- Risk Management: Risk no more than 1-2% of your trading capital on a single trade.
Why combine WPR T3 MTF with the 200 SMA indicator?
The WPR T3 MTF indicator offers timely overbought and oversold signals, which can indicate potential market reversals.
However, these signals are more reliable when aligned with the broader market trend.
The 200 SMA is a widely recognized indicator for determining long-term trend direction.
By combining these tools, traders can filter out counter-trend signals and focus on high-probability trades that align with the prevailing market momentum.
Parameters & Settings
WPR period, T3 period, T3 hot, overbought level, oversold level, alerts, colors, style
Feel free to explore the indicator’s different parameters and settings to create your personalized indicator setup.
More Info About This Tool
Currency Pairs: works on any currency pair
Trading Platform: developed for Metatrader 4 (MT4)
Time Frames: any
Indicator Type: overbought/oversold
How to install the WPR T3 MTF With Alerts & Arrows indicator in Metatrader 4?
- Copy and paste the Wpr T3 (mtf + alerts + arrows).ex4 indicator into the MQL4 indicators folder.
- You can access this folder from the top menu as follows:
- File > Open Data Folder > MQL4 > Indicators (paste here)
