WPR Oscillator with Alert for Metatrader 4– Free – [TFlab]

The Williams Percent Range Indicator with Alert MT4 is a technical analysis oscillator designed to identify overbought and oversold market conditions with higher precision.
By comparing the current price level to the highest high and lowest low within a selected period, this tool helps traders recognize potential reversal areas and confirm possible trend continuation setups.


You can download it from this link:

https://cdn.tradingfinder.com/file/5...4-by-tflab.zip

You can also access the MetaTrader 5 version of this Indicator through this page:

https://www.cryptocraft.com/thread/1...r-metatrader-5

For instructions on how to install:

https://www.forexfactory.com/thread/...-in-metatrader



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Specifications of the WPR Oscillator with Alert

The key specifications of the Williams %R Indicator with Alert are listed below:

1. Indicator Categories:
   1. Oscillators MT4 Indicators
   2. Signal & Forecast MT4 Indicators

   
   

2. Platform:
   1. MetaTrader 4 (MT4)

   
   

3. Trading Skill Level:
   1. Intermediate

   
   

4. Indicator Type:
   1. Overbought and Oversold MT4 Indicators
   2. Reversal MT4 Indicators

   
   

5. Supported Timeframes:
   1. Multi-Timeframe MT4 Indicators

   
   

6. Trading Style Compatibility:
   1. Day Trading MT4 Indicators
   2. Scalper MT4 Indicators
   3. Swing Trading MT4 Indicators

   
   

7. Supported Markets:
   1. Forex MT4 Indicators
   2. Cryptocurrency MT4 Indicators
   3. Stock Market MT4 Indicators
      
      

   
   

Williams Percent Range Indicator with Alert at a Glance

The WPR oscillator moves between 0 and -100, allowing traders to identify extreme price conditions in a structured and measurable way.

The primary interpretation guidelines include:

1. Values close to -20 typically indicate overbought conditions.
2. Values close to -80 typically indicate oversold conditions.

These levels allow traders to assess whether price is likely to continue in its current direction or whether the probability of a reversal is increasing.
Bullish Trend Conditions
In bullish market environments, the WPR indicator becomes particularly valuable when the oscillator reaches the -80 zone, which often signals oversold conditions.


Typical characteristics of this scenario include:

1. The oscillator touches or breaks below the -80 level.
2. The WPR line begins to rebound upward.
3. Price action starts forming a recovery pattern or early bullish structure.

This alignment may indicate a potential bullish reversal or the beginning of a temporary upward correction.

WPR Oscillator with Alert in a Bullish Trend
In such conditions, the indicator visually highlights oversold zones and helps traders detect moments where selling momentum weakens and demand begins to return.


Bearish Trend Conditions

In bearish market conditions, the WPR oscillator is especially effective when the indicator rises toward the -20 level, suggesting that price has entered an overbought zone.

Common signals in this situation include:

1. The oscillator approaches or reaches the -20 area.
2. Price momentum begins to decline.
3. The likelihood of a bearish reversal increases.

Based on confirmation signals and overall market context, traders may consider sell opportunities aligned with their trading strategy.

WPR Oscillator with Alert in a Bearish Trend
In bearish setups, the WPR with Alert helps identify overbought zones where bullish pressure may be losing strength and price may be preparing for a downward move.
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Williams Percent Range Indicator with Alert Settings

The WPR Oscillator with Alert provides customizable parameters that allow traders to adjust the indicator based on their trading preferences and risk approach.
Key adjustable settings include:

1. ExWPRPeriod: Determines the calculation period of the oscillator
2. ALERT: Enables or disables alert functionality
3. EMAIL: Sends alerts via email
4. NOTIFICATION: Sends push notifications
5. MESSAGE_TIMEOUT: Sets the minimum time gap between alerts
6. MESSAGE_SUBJECT: Defines the subject of alert messages
   
   

Conclusion

The Williams Percent Range (WPR) Indicator with Alert is a practical MT4 oscillator developed to detect overbought and oversold conditions in a clear and structured format.
By analyzing the current price position within a defined range, the indicator helps traders identify potential reversal points and continuation opportunities.
Using the key levels near -20 and -80, traders can locate trading opportunities more effectively and execute decisions based on market conditions, confirmation tools, and disciplined risk management.