Real author:

Yuriy Tokman (YTG)

The WPR oscillator in the main chart window relative to the Moving Average indicator. WRP is shown in purple, the Moving Average line is pink, and the levels with the default values are shown as borders of a light gray channel.

Indicator input parameters:

//+----------------------------------------------+
//| Indicator input parameters                   |
//+----------------------------------------------+
input uint PeriodWPR=14;                              // WPR indicator period
input Smooth_Method XMA_Method=MODE_SMMA;             // Averaging method
input uint XLength=12;                                // Depth of averaging
input int XPhase=15;                                  // Smoothing parameter
//---- for JJMA within the range of -100 ... +100 it influences the quality of the transition process;
//---- for VIDIA it is a CMO period, for AMA it is a slow average period
input double Dev=10.0;                                // Channel width deviation
input ENUM_APPLIED_PRICE  Applied_price=PRICE_CLOSE;  // Price type or handle
input int  Level_WPR_UP = -40;                        // Overbought level
input int  Level_WPR_DN = -60;                        // Oversold level
input int Shift=0;                                    // Horizontal indicator shift in bars  

The indicator uses SmoothAlgorithms.mqh library classes (copy it to <terminal_data_folder>\MQL5\Include). The use of the classes was thoroughly described in the article "Averaging Price Series for Intermediate Calculations Without Using Additional Buffers".

Fig.1. The WPR_Chart indicator