ColorXWPR_Histogram - MetaTrader 5 Script - MT4/MT5 Resource

Smoothed Larry Williams Percent Range Oscillator with color indication of overbought/oversold level breakouts and histogram direction. Depends on the values ​​of the indicator input parameters:

There are two variants of histogram coloring:

For better histogram readability, the indicator is performed with zero relative symmetry and its values ​​vary between -50 and +50.

The indicator uses SmoothAlgorithms.mqh library class (copy it to \MQL5\Include). The use of the class "Average price series for intermediate calculations without using additional buffers" is detailed in the article.

Figure 1. ColorXWPR_Histogram indicator

Attachment download

📎colorxwpr_histogram.mq5 (18.04 KB)

Source: MQL5 #17632