The WPR Histogram Forex Trend indicator for Metatrader 5 delivers solid buy & sell trade signals based on the Williams’ Percent Range indicator.
The signals appear as a colored histogram that oscillates above and below the 0 level.
It can be used as a standalone trading tool or combined with a trading strategy for additional trend confirmation.
How to trade FX with this indicator?
- The green colored WPR histogram bars signal a bullish trend.
- The orange colored WPR histogram bars signal a bearish trend.
The indicator contains the following inputs and parameters: WPR period, style, and color.
Make yourself familiar with this non-repaint technical indicator and test it first on a demo account.
Remember to have realistic expectations, performance will vary depending on market conditions (trending markets, sideways markets, etc.).
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WPR_Histogram_Vol.mq5 Indicator (MT5)
Chart Example
The following chart shows what the WPR Histogram Forex Trend indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The WPR Histogram Forex Trend Indicator?
Find a simple trading example below:
Buy Signal
- A new buy signal is given when the first green colored WPR bar gets printed on the chart.
- Open a buy trade and place your protective stop loss some pips below support.
- Utilize your own take profit strategy for buy signals.
Sell Signal
- A new sell signal is given when the first orange colored WPR bar gets printed on the chart.
- Open a sell trade and place your protective stop loss some pips above resistance.
- Utilize your own take profit strategy for sell signals.
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WPR_Histogram_Vol.mq5 Indicator (MT5)
Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the WPR_Histogram_Vol.mq5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
How Do I Edit This Indicator?
- Click in the open chart with your right mouse button
- In the dropdown menu, click on Indicator List
- Select the indicator and click on properties
- Now you can edit the inputs, colors, levels, scale and visualization
- Finally click the OK button to save the new configuration