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Re: MT5 WPR (Williams %R) type indicators

11 by mrtools
traderokey wrote: Sat Nov 29, 2025 5:48 am Hi Mrtools,

Some of the average methods of this MT5 indicator are not working correctly.

For example, Vidya, all adaptive averages and a few others. Please can you check the code? Thank you.



Vinini BB Ma Wpr avgs (mtf + alerts + arrows).ex5
Pretty sure I narrowed it down to the double smoothing, removed that and everything seems to work correctly, need to research and find out why that function now not working on mt5, anyway please test this version.
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Cagliostro, traderokey, Krunal Gajjar, kudrpenk
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Shalom Shalom! :hug:

Re: MT5 WPR (Williams %R) type indicators

14 by chris006
Kvak, thanks for the below indicator.

A comment, for WPR the "change color on WPR cross zero level" should rather be "change color on WPR -50 level", with the color levels adjusted accordingly. Because as it is, the indicator only shows red color.

A suggestion, could you additionally incorporate a bollinger band (high, mid, low with adjustable color and style) calculated on the signal line?
kvak wrote: Wed Dec 17, 2025 7:23 am WPR witth pre/pos smoothing and filtering.

Re: MT5 WPR (Williams %R) type indicators

15 by kvak
chris006 wrote: Tue Jan 27, 2026 3:19 am Kvak, thanks for the below indicator.

A comment, for WPR the "change color on WPR cross zero level" should rather be "change color on WPR -50 level", with the color levels adjusted accordingly. Because as it is, the indicator only shows red color.

A suggestion, could you additionally incorporate a bollinger band (high, mid, low with adjustable color and style) calculated on the signal line?
Hello, yes, you are right, thanks for find this bug, I am add in one condition -50, but on second 0. My mistake.
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Re: MT5 WPR (Williams %R) type indicators

16 by chris006
Smoothed WPR - indicator for MetaTrader 5

by Mladen Rakic

original post here: https://www.mql5.com/en/code/24214

Theory :

Williams %R, or just %R, is a technical analysis oscillator showing the current closing price in relation to the high and low of the past N days (for a given N). It was developed by a publisher and promoter of trading materials, Larry Williams. Its purpose is to tell whether a stock or commodity market is trading near the high or the low, or somewhere in between, of its recent trading range.

%R = -100 x (highest high (period) - close) / (highest high (period) - lowest low (period))

The oscillator is on a negative scale, from −100 (lowest) up to 0 (highest), obverse of the more common 0 to 100 scale found in many Technical Analysis oscillators. A value of −100 means the close today was the lowest low of the past N days, and 0 means today's close was the highest high of the past N days. (Although sometimes the %R is adjusted by adding 100.)

One of the "issues" that WPR has is that it is a "nervous" indicator (it tends to change values so fast that using levels for signals will almost sure lead to massive false signals trap). There were few attempts to produce less signals with WPR but they were usually smoothing the result, thus adding a lag to the indicator. This version is using a different approach : it is using ema smoothed prices for calculations, producing much less signals that way (and a much smoother result) without adding too much lag

Usage :

You can use it as any other WPR

Re: MT5 WPR (Williams %R) type indicators

17 by chris006
Smoothed WPR with floating levels - indicator for MetaTrader 5

by Mladen Rakic

original post here: https://www.mql5.com/en/code/24215

Theory :

The way how this WPR is smoothed is described here : Smoothed WPR

In order to enable simpler usage of that indicator, this version is adding floating levels. You can use, depending on those floating levels, 3 modes of color changes

color change on outer levels cross
color change on middle (sort of zero line) cross
color change on slope change

Usage :

You can use color changes as signals

Re: MT5 WPR (Williams %R) type indicators

18 by chris006
Mod of Smoothed WPR - added Bollinger Bands
chris006 wrote: Tue Jan 27, 2026 9:54 pm Smoothed WPR - indicator for MetaTrader 5

by Mladen Rakic

original post here: https://www.mql5.com/en/code/24214

Theory :

Williams %R, or just %R, is a technical analysis oscillator showing the current closing price in relation to the high and low of the past N days (for a given N). It was developed by a publisher and promoter of trading materials, Larry Williams. Its purpose is to tell whether a stock or commodity market is trading near the high or the low, or somewhere in between, of its recent trading range.

%R = -100 x (highest high (period) - close) / (highest high (period) - lowest low (period))

The oscillator is on a negative scale, from −100 (lowest) up to 0 (highest), obverse of the more common 0 to 100 scale found in many Technical Analysis oscillators. A value of −100 means the close today was the lowest low of the past N days, and 0 means today's close was the highest high of the past N days. (Although sometimes the %R is adjusted by adding 100.)

One of the "issues" that WPR has is that it is a "nervous" indicator (it tends to change values so fast that using levels for signals will almost sure lead to massive false signals trap). There were few attempts to produce less signals with WPR but they were usually smoothing the result, thus adding a lag to the indicator. This version is using a different approach : it is using ema smoothed prices for calculations, producing much less signals that way (and a much smoother result) without adding too much lag

Usage :

You can use it as any other WPR

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