WPR Oscillator with Alert for Metatrader 5 – Free – [TFlab]

The Williams Percent Range (WPR) Indicator with Alert MT5 is a momentum oscillator developed to help traders identify overbought and oversold conditions with improved clarity and speed. By evaluating the current closing price in relation to the highest high and lowest low over a selected lookback period, the indicator highlights areas where price may be reaching exhaustion, often preceding a trend reversal or a continuation move.
Compared to the classic WPR oscillator, this version includes an integrated alert function, enabling traders to receive notifications when the oscillator reaches key threshold levels. This makes it an efficient tool for traders who prefer structured signal tracking without constant chart monitoring.

You can download it from this link:
https://cdn.tradingfinder.com/file/5...5-by-tflab.zip

You can also access the MetaTrader 4 version of this Indicator through this page:
https://www.cryptocraft.com/thread/1...atrader-4-free

For instructions on how to install:
https://www.forexfactory.com/thread/...-in-metatrader



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WPR Oscillator with Alert Specifications

The Williams Percent Range Indicator with Alert is classified as a MetaTrader 5 technical analysis indicator with the following profile:

1. Primary Category: Oscillator
2. Secondary Category: Signal & Forecast
3. Platform: MetaTrader 5 (MT5)
4. Recommended Skill Level: Intermediate
5. Indicator Type:
   1. Overbought & Oversold
   2. Reversal Confirmation

6. Timeframe Support: Multi-Timeframe
7. Suitable Trading Styles:
   1. Scalping
   2. Day Trading
   3. Swing Trading

8. Supported Markets:
   1. Forex
   2. Cryptocurrency
   3. Stocks
      
      

Williams Percent Range with Alert at a Glance

The WPR oscillator is calculated on a fixed scale ranging from 0 to -100, offering a structured framework for identifying momentum extremes.

The most important reference zones are:

1. -20 Level: Typically represents overbought conditions
2. -80 Level: Typically represents oversold conditions

Although these zones do not guarantee an immediate reversal, they often signal that the market is entering an area where a price reaction becomes more likely, especially when confirmed by trend structure, key levels, and broader market direction.


Bullish Trend Conditions

On the USD/JPY (H1) chart, when the oscillator drops into the -80 zone, it indicates that the market is in an oversold state. If the oscillator then begins rising from this level while price action starts shifting upward, it may reflect the beginning of bullish momentum.

This setup can suggest:

1. A reduction in selling strength
2. A potential transition from bearish to bullish conditions
3. A trend continuation entry when the higher timeframe remains bullish

Typical bullish confirmations include:

1. The oscillator leaving the oversold region
2. Price forming a higher low
3. A breakout above a nearby resistance zone
   
   

Bearish Trend Conditions

On the EUR/GBP (H1) chart, the oscillator moves toward the -20 zone, signaling overbought conditions. This often indicates that bullish momentum is weakening and that downside pressure may soon increase.

This situation may be interpreted as:

1. A potential bearish reversal
2. A corrective decline within an uptrend
3. A sell confirmation when the main trend is already bearish

Common bearish confirmations include:

1. The oscillator turning downward from the overbought zone
2. Price rejecting a resistance level
3. Formation of a lower high

WPR Indicator with Alert Settings
The WPR Oscillator with Alert includes essential parameters that allow traders to customize performance and manage notifications:

1. Period: Defines the lookback length used in the calculation
2. ALERT: Enables or disables alert signals
3. EMAIL: Enables or disables email notifications
4. NOTIFICATION: Enables or disables push alerts on mobile
5. MESSAGE_TIMEOUT: Sets the minimum interval between alerts
6. MESSAGE_SUBJECT: Allows customization of the alert title/message

These settings make the indicator adaptable for different trading strategies, market volatility conditions, and timeframe preferences.


Conclusion

The Williams Percent Range (WPR) Indicator with Alert for MT5 is a structured momentum oscillator designed to detect overbought and oversold zones and highlight potential reversal areas. By measuring where price is positioned within a defined range, it provides valuable insight into momentum strength and possible market turning points.
With its built-in alert system, the indicator is especially useful for traders who monitor multiple symbols or prefer automated signal notifications. When combined with trend analysis, support/resistance, and disciplined risk management, it can support more accurate trading decisions across Forex, cryptocurrency, and stock markets.