The WPR T3 Forex indicator for Metatrader 4 is composed of the Williams’ Percent Range technical indicator while smoothed by the T3 trading algorithm.
In essence, it is an oscillator that identifies overbought and oversold market levels and ranges between 0.00 and -105 extreme values.
The indicator appears as a red & blue dotted line in a bottom chart of the MT4 platform.
The 0 level is considered extremely overbought while -105 extremely oversold.
After you downloaded and installed the indicator on the MT4 trading platform, it should look like the image as shown below.
- Identifies overbought and oversold levels
- Beginner friendly
- Works on all time frames.
- Well worth adding to your indicator collection
This indicator can work together with any existing trading strategy or system as an oversold/overbought technical tool.
Indicator Example Chart
The EUR/USD 1-hour chart below shows the WPR T3 Forex indicator in action.
Basic Trading Signals
- A buy signal is given when WPR T3 indicator reaches the -105 value while the underlying trend is clearly upward.
- Set stop loss below key support.
- Exit the buy trade for a predetermined profit target or wait for a sell signal.
- A sell signal is given when WPR indicator reaches the 0 value while the underlying trend is clearly downward.
- Set stop loss above key resistance.
- Exit the sell trade for a predetermined profit target or wait for a buy signal.
Download This Forex Indicator
Adjustable Parameters & Settings
WPR period, T3, colors, style
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: overbought/oversold
How to install the WPR T3 indicator in Metatrader 4?
- Copy and paste the wpr t3.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