Created by: Indoforex Groups - Primajaya
If you're looking to enhance your trading strategy, the FilterOverWPR Indicator for MetaTrader 5 might be just what you need. This tool gauges trend strength and presents it in a simple, user-friendly format.
Utilizing the Stochastic Oscillator as its signal source, this indicator categorizes trends into four distinct states:
- Strong Upward Trend: Indicated by a vibrant blue bar.
- Weak Upward Trend: Displayed as a pale green bar.
- Strong Downward Trend: Marked by a bold red bar.
- Weak Downward Trend: Shown as a ginger-colored bar.
The FilterOverWPR was originally developed in MQL4 and made its debut in the Code Base at mql4.com on February 26, 2008, showcasing its longevity in the trading community.
Fig. 1 The FilterOverWPR indicator
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