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Views:: 7190
Rating:: (15)
Published:: 2019.01.18 20:56

Smoothed WPR (fl)(sr).mq5 (18.82 KB) view

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Theory :

The way how this WPR is smoothed is described here : Smoothed WPR

In order to enable simpler usage of that indicator, this version is adding floating levels. You can use, depending on those floating levels, 3 modes of color changes

color change on outer levels cross
color change on middle (sort of zero line) cross
color change on slope change

Also, this version is displaying a sort of support / resistance levels on the main chart when the signal of the wpr changes

Usage :

You can use color changes as signals

Smoothed WPR with floating levels

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Smoothed WPR with floating levels and on chart support / resistance levels - indicator for MetaTrader 5