UltraWPR Indicator For MT5

UltraWPR Indicator For MT5

The UltraWPR Indicator For MT5 displays a customized version of the Williams Percent Range (WPR) oscillator in a colored cloud format. The color and width of the cloud depict the trend direction and trend strength, respectively. If the WPR detects an underlying bullish trend, the cloud is painted Lime Green, while a bearish trend generates a Magenta colored cloud. 8.00 is marked as the overbought level, while 2.00 represents the oversold level. An additional smoothing algorithm has been applied to the indicator calculation to filter out market noise. Basic trading signals generated by the UltraWPR Indicator For MT5 are explained below: 1. Go long when the cloud color changes from Magenta to Lime Green. 2. Enter short when the cloud color switches from Lime Green to Magenta.

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Installing the UltraWPR Indicator For MT5

After you downloaded the indicator via the form above you need to unzip the zip-file. Then you need to copy the file ultrawpr.mq5 into the folder MQL5\Indicators of your MT5 installation. After that please restart MT5 and then you will be able to see the indicator in the list of indicators.

Parameters of the UltraWPR Indicator For MT5

The UltraWPR Indicator For MT5 has 15 parameters to configure.

input int WPR_Period=13;                    // WPR indicator period
input Smooth_Method W_Method=MODE_JJMA;     // Smoothing method
input int StartLength=3;                    // Initial smoothing period
input int WPhase=100;                       // Smoothing parameter
input uint Step=5;                          // Period change step
input uint StepsTotal=10;                   // Number of period changes
input Smooth_Method SmoothMethod=MODE_JJMA; // Smoothing method
input int SmoothLength=3;                   // Smoothing depth
input int SmoothPhase=100;                  // Smoothing parameter
input uint UpLevel=80;                      // Overbought level, %
input uint DnLevel=20;                      // Oversold level, %
input color UpLevelsColor=Blue;             // Overbought level color
input color DnLevelsColor=Blue;             // Oversold level color
input STYLE Levelstyle=DASH_;               // Levels style
input WIDTH  LevelsWidth=Width_1;           // Levels width

Buffers of the UltraWPR Indicator For MT5

The UltraWPR Indicator For MT5 provides 2 buffers.


Main Parts Of The Code

int OnCalculate(const int rates_total,    // number of bars in history at the current tick
                const int prev_calculated,// number of bars calculated at previous call
                const datetime &time[],
                const double &open[],
                const double& high[],     // price array of maximums of price for the indicator calculation
                const double& low[],      // price array of minimums of price for the indicator calculation
                const double &close[],
                const long &tick_volume[],
                const long &volume[],
                const int &spread[])
//---- checking the number of bars to be enough for the calculation
   if(BarsCalculated(WPR_Handle) lt rates_total
      || rates_total lt min_rates_total)

//---- declaration of local variables 
   int to_copy,limit,bar,maxbar1,maxbar2;
   double WPR[],upsch,dnsch;

//---- calculation of maxbar initial index for the XMASeries() function

//---- calculation of the  limit  starting index for the bars recalculation loop
   if(prev_calculated gt rates_total || prev_calculated lt =0)// checking for the first start of the indicator calculation
      limit=maxbar1;                       // starting index for calculation of all bars
   else limit=rates_total-prev_calculated; // starting index for calculation of new bars
//--- copy newly appeared data in the arrays
   if(CopyBuffer(WPR_Handle,0,0,to_copy,WPR) lt =0) return(RESET);

//---- indexing elements in arrays as time series  

//---- main indicator calculation loop
   for(bar=limit; bar gt =0 && !IsStopped(); bar--)
      for(int sm=int(StepsTotal); sm gt =0 && !IsStopped(); sm--)

      if(bar gt maxbar2)
         if(bar) ArrayCopy(xwpr1,xwpr0,0,0,WHOLE_ARRAY);

      for(int sm=int(StepsTotal); sm gt =0 && !IsStopped(); sm--)
         if(xwpr0[sm] gt xwpr1[sm]) upsch++;
      else                    dnsch++;


      if(bar) ArrayCopy(xwpr1,xwpr0,0,0,WHOLE_ARRAY);


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