Real author:

gumgum

The indicator gives trading signals using colored arrows on a chart. The signals are based on the WPR (Williams’ Percent Range) and RSI (Relative Strength Index) technical indicators.

In case the conditions for buying are fulfilled (when WPR >-20 and RSI > 50), lime up arrows are shown, in case the conditions for selling are fulfilled (WPR < -80 and RSI < 50) magenta down arrows appear.

Input parameters:

• WPRSIperiod - period for WPR and RSI;
• filterUP - depth of WPR > -20 crossing verification;
• filterDN - depth of WPR < -80 crossing verification.
  

This indicator was first implemented in MQL4 and published in CodeBase at mql4.com 05.09.2009.