Real author:

Tor

Trend analyzer based on the difference of two WPR oscillators with different periods.

The indicator will be useful for those who analyze two WPR indicators with different periods (fast and slow), their relative positions, as well as the location of the slow WPR relative to the specified level (for example, 50).

That is, if the slow WPR is greater than 50, and the fast WPR is greater than the slow WPR — paint the histogram in overbought color.

If the slow WPR is less than 50, and the fast WPR is less than the slow WPR — paint the histogram in oversold color.

Al settings can be customized: colors, signal level (-50), periods of the slow and fast WPR, histogram display type.

//+----------------------------------------------+
//| Indicator input parameters                   |
//+----------------------------------------------+
input TypeGraph            TypeGr=Histogram; // Type graph
input uint                 WPRPeriod1=14;    // Fast WPR Period
input uint                 WPRPeriod2=30;    // Slow WPR Period
input int                  Level=-50;        // Signal Level
input int                  Shift=0;          // Horizontal indicator shift in bars

The indicator has 5 buffers that can be used at your discretion.

• 0 — Indicator buffer;
• 1 — color indicator buffer with three color states;
• 2 — WPR fast;
• 3 — WPR slow;
• 4 — Difference between two WPR (MACDWPR).

Fig1. Full histogram of the Delta_WPR indicator

Fig.2. Shortened histogram of the Delta_WPR indicator