Delta_WPR - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources

Trend analyzer based on the difference of two WPR oscillators with different periods.

This indicator is useful for those who analyze two WPR indicators with different periods (fast and slow), their relative position, and the position of the slow WPR relative to a specified level (e.g. 50).

That is, if Slow WPR is greater than 50, and Fast WPR is greater than Slow WPR - plot the histogram with overbought colors.

If Slow WPR is less than 50 and Fast WPR is less than Slow WPR - plot the histogram with oversold color.

All settings are customizable: color, signal level (-50), slow and fast WPR period, histogram display type.

 //+------------------------------------------------------------------------+
//|Indicator input parameters |
//+------------------------------------------------------------------------+
Input TypeGraph TypeGr=Histogram; // Input chart
Input unit WPRP cycle 1= 14 ; // Fast WPR cycle
Input unit WPRP cycle 2= 30 ; // Slow WPR cycle
Input integer level = - 50 ; // signal level
Input integer shift = 0 ; // indicator moves horizontally (in bars)

The indicator has 5 buffers which you can use at your discretion.

Figure 1. Complete histogram of the Delta_WPR indicator

Figure 2. Shortened histogram of the Delta_WPR indicator

Attachment download

📎 delta_wpr.mq5 (15.46 KB)

Source: MQL5 #16499