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Published:

2019.01.18 20:48

Smoothed WPR (fl).mq5 (10.66 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

Usage :

You can use color changes as signals

PS:

One "big picture" example. Some experimenting with the parameters is advised prior to using it in trading decisions

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Smoothed WPR with floating levels - indicator for MetaTrader 5