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2011.12.02 12:07
Indicators

WPRSI signal - indicator for MetaTrader 5

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Published by:
Nikolay Kositsin
Views:
4118
Rating:
votes: 14

Real author:

gumgum

The indicator gives trading signals using colored arrows on a chart. The signals are based on the WPR (Williams’ Percent Range) and RSI (Relative Strength Index) technical indicators.

In case the conditions for buying are fulfilled (when WPR >-20 and RSI > 50), lime up arrows are shown, in case the conditions for selling are fulfilled (WPR < -80 and RSI < 50) magenta down arrows appear.

Input parameters:

  • WPRSIperiod - period for WPR and RSI;
  • filterUP - depth of WPR > -20 crossing verification;
  • filterDN - depth of WPR < -80 crossing verification.

This indicator was first implemented in MQL4 and published in CodeBase at mql4.com 05.09.2009.

WPRSI signal

Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/599

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