Real Author:
Tor
Hey fellow traders! Today, let's dive into the WPR_Slowdown indicator for MetaTrader 5, a nifty tool that can really amp up your trading game.
This indicator operates on the principles of the Williams Percent Range (WPR) and provides you with semaphore signals. It comes packed with alert features, capable of sending you notifications via email or push notifications to your mobile. Talk about staying in the loop!
The WPR_Slowdown indicator is built on the idea that a price reversal often follows a slowdown in the rate of change of the indicator itself. It identifies those moments when price action begins to stall in the overbought or oversold zones indicated by the fast WPR.
You’ll appreciate the functionality that allows you to mark these crucial areas directly on your charts with arrows. And if you prefer a more streamlined approach, you can easily toggle off the slowdown search feature. In this mode, the indicator will simply reflect whether the WPR levels you've set—LevelMax and LevelMin—have been exceeded.
//+----------------------------------------------+ //| Indicator input parameters | //+----------------------------------------------+ input uint WPRPeriod=12; // WPR Period input double LevelMax=-20; // Signal Level Max input double LevelMin=-80; // Signal Level Min input bool SeekSlowdown=true; // Seek Slowdown input int Shift=0 // Horizontal indicator shift in bars //---- Input variables for alerts input uint NumberofBar=1 // Bar number for the signal input bool SoundON=true // Enable alerts input uint NumberofAlerts=2 // Number of alerts input bool EMailON=false // Enable mailing the signal input bool PushON=false // Enable sending the signal to mobile devices
Fig1. The WPR_Slowdown indicator
Fig.2. The WPR_Slowdown indicator generating alert
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