WPR Slow MTF (MT4)

WPR Slow MTF is a refined Williams’ %R with slow smoothing and multi‑timeframe (MTF) confirmation. It highlights overbought/oversold (OB/OS) regimes, zero‑line‑style mid‑zone, and clean signals for MetaTrader 4.

What it shows

• Williams’ %R histogram/line with slow smoothing to reduce noise.
• OB/OS bands (e.g., –20/–80) with optional color states.
• MTF overlay: show higher TF %R bias on the current chart.
• (Optional) alerts/arrows — OB/OS exits/returns, cross of mid‑zone, MTF agreement.

Trade ideas

1. OB/OS reversal: after extended OB (< –20) or OS (> –80), trade first exit with price confirmation.
2. Pullback with MTF: when higher TF is bullish, buy pullbacks where %R fails to reach OS; mirror for shorts.
3. Squeeze → breakout: when range tightens and %R hovers mid‑zone, trade the first strong expansion.
4. (Optional) Divergence filter: avoid entries when price HH/LL is not confirmed by %R.

Inputs that matter

• Period — core lookback for %R.
• Slow smoothing — stability vs lag.
• MTF timeframe — higher‑TF filter/overlay.
• Levels — –20 / –80 and mid‑zone.
• Alerts — exits/returns, mid‑zone, MTF agree.

Suggested usage

• M5–M15: OB/OS fades with structure.
• M30–H4: pullbacks with MTF confirmation.
• Daily+: regime map and risk tilt.

Installation (MT4)

1. Open MetaTrader 4 → File → Open Data Folder.
2. Copy wpr-slow-mtf-indicator.ex4 to MQL4/Indicators.
3. Restart MT4 (or refresh Navigator) and attach WPR Slow MTF.
4. Tweak inputs → OK.

FAQ

Does it repaint? No on closed bars.
Use in EAs? Yes, via iCustom.
Markets? FX, indices, metals, crypto — anything on MT4.

Disclaimer: Test on a demo account first; risk management is essential.