Smoothed WPR with Floating Levels and Chart Support/Resistance Levels - MetaTrader 5 Script - MT4/MT5 Resource
How to smooth this WPR is described here: Smoothing WPR
For easier use of the indicator, this version adds floating levels. You can use according to these floating levels, 3 color changing modes
Additionally, this version shows some kind of support/resistance levels on the main chart when the wpr signal changes
You can use color changes as signals
Attachment download
📎 smoothed_wpr_6fleusrj.mq5 (18.82 KB)
Source: MQL5 #24216
Smoothed WPR with floating levels and chart support/resistance levels - MetaTrader 5 script usage and screening recommendations
Smoothed WPR with floating levels and chart support/resistance levels - MetaTrader 5 script belongs to the Forex indicator related resources. Before downloading or referencing, it is recommended to confirm the platform version, transaction type, time period, whether DLL is required, whether source code is included, parameter description and historical update records.
Both automated trading tools and foreign exchange indicators should first undergo backtesting, simulated account observation, and small capital verification. Pay special attention to spreads, slippages, maximum drawdowns, position opening frequency, stop loss methods, trading periods and broker rules, and avoid direct real-time execution based only on titles or short-term profit descriptions.
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