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Published:

2017.03.22 16:11

ColorXWPR_Histogram.mq5 (18.04 KB) view

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The smoothed Larry Williams' Percent Range oscillator with the color indication of overbought/oversold level breakouts and of the histogram direction. Depending on the value of the indicator's input parameter:

input ENUM_COLOR_MODE Mode=ENUM_LEVELS; //Breakout indication method

There are two variants of histogram coloring:

Breakout of overbought/oversold levels;
Change of direction.

For better histogram readability, the indicator is performed in zero relative symmetric form, and its values vary from -50 to +50.

The indicator uses SmoothAlgorithms.mqh library classes (copy it to <terminal_data_folder>\MQL5\Include). The use of the classes was described in detail in the article "Averaging Price Series for Intermediate Calculations Without Using Additional Buffers".

Fig1. The ColorXWPR_Histogram indicator

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/17632

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ColorXWPR_Histogram - indicator for MetaTrader 5