Dat WPR Momentum Metatrader 4 Forex Indicator
The Dat WPR Momentum Metatrader 4 indicator is a Williams’ Percent Range type technical study that determines whether price is overbought/oversold.
The indicator’s value ranges between -10 and 105 as its fixed minimum and maximum values respectively.
The Dat WPR indicator’s values ranging between -10% and 20% indicate that price is oversold.
To show that price is overbought on the Dat WPR indicator, it must show readings of between 80 to 105.
- Just to get a better view of how the market is fairing, keen interest should be paid to the lines of the Dat WPR indicator and its interaction with below the 20 and above the 80 levels.
- Below the 20 and above the 80 levels are designated as oversold and overbought regions. When price hovers within these regions, it is likely that a turning point is imminent.
- Short term traders will consider the breaking above the 50 mark by the fast line as a bullish trend and its dip below same as bearish. Meanwhile, long term traders will consider same on the slower line interaction with the 50 mark.
Feel free to explore the Dat WPR Momentum Forex indicator’s different parameters and settings to create your own personalized indicator setup.
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Dat WPR Forex Indicator Chart (AUD/NZD M30 Chart Example)
Here’s an example of how the indicator should look like when loaded onto the Metatrader 4 chart.
Finding Buy and Sell Triggers With The Dat WPR Momentum MT4 Indicator
Buy Signal: Go long when the faster (crimson) and slower (peru) lines of the Dat WPR Metatrader 4 indicator break above the 20.00 horizontal level.
When the silver histograms of the MACD indicator gets printed above the zero-horizontal level, it is a buy signal confirmation.
Sell Signal: Go short when the faster (crimson) and slower (peru) lines of the Dat WPR indicator dip below the 80.00 horizontal level.
When the silver histograms of the MACD indicator gets printed below the zero-horizontal level, it is a sell signal confirmation.
Exit buy trade: Close all buy orders if while a bullish trend is ongoing, the slower line (peru) of the Dat WPR indicator dips below the 80-signal level. Else, the silver histogram of the MACD indicator gets printed below the 0.00 signal level.
Exit sell trade: Close all sell orders if while a bearish trend is on its course, the slower line (peru) of the Dat WPR Indicator surges above the 20-signal level. Else, the silver histogram of the MACD indicator gets printed above the 0.00 signal level.
Tips: The Dat WPR MT4 Indicator is essentially a momentum indicator that shows an amazing sensitivity to volatile prices, making it a worthy candidate for use over volatile currency pairs.
When combined with other technical indicators, it yields even better results.
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More Info About This Indicator
Tradable Currency pairs: Any
Trading Platform: MT4
Time frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: Momentum
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.