The William %R Histogram Forex indicator with alerts for Metatrader 4 is a momentum oscillator that provides trend direction in the form of an histogram.
The indicator pops up in a bottom window as colored green (bullish) and red (bearish) histogram bars.
After you downloaded and installed the indicator on the MT4 trading platform, it should look like the image as shown below.
- Based on %R technical indicator
- Provides buy & sell signals with alerts
- Beginner friendly
- Well worth adding to your indicator collection
This indicator can work together with any existing trading strategy or system as a simple trend confirmation tool.
Indicator Example Chart
The EUR/USD 1-hour chart below shows the William %R Histogram indicator in action.
Basic Trading Signals
- Open a buy position as soon as the first green colored William %R Histogram bar appears on the chart.
- Place stop loss below the previous swing low price.
- Exit the buy trade for a predetermined profit target or wait for a sell signal.
- Open a sell position as soon as the first red colored William %R Histogram bar appears on the chart.
- Place stop loss above the previous swing high price.
- Exit the sell trade for a predetermined profit target or wait for a buy signal.
Download This Forex Indicator
Adjustable Parameters & Settings
Feel free to explore the indicator’s different parameters and settings to create your own personalized indicator setup.
More Info About This Indicator
Currency Pairs: works on any currency pair
Trading Platform: developed for Metatrader 4 (MT4)
Time Frames: any
Indicator Type: oscillator
How to install the William %R Histogram indicator in Metatrader 4?
- Copy and paste the William histogramm with alert.mq4 indicator into the MQL4 indicators folder.
- You can access this folder from the top menu as follows:
- File > Open Data Folder > MQL4 > Indicators (paste here)
How to remove the indicator from the chart?
- Right click in the chart
- Select indicators list
- Click on the indicator’s name
- Click on the delete button