Exp_wlxBWWiseMan-2
This EA trades based on the wlxBWWiseMan-2 custom indicator, which is part of the Bill Williams trading system (Wiseman-2 signal). It opens buy positions on upward wisdom signals and sell positions on downward signals, with optional counter-position closing based on historical signal scanning. Position sizing uses a money management module from TradeAlgorithms.mqh with configurable margin modes.
Open the interactive view (equity curve, symbol switch)Key facts
Backtest results (H1, about 1 year)
| Symbol | P&L | Annual | Max DD | Trades | Win rate | Sharpe | Recovery | Losing streak | Per trade | Status |
|---|---|---|---|---|---|---|---|---|---|---|
| EURUSD | -2.44% | -2.12% | 5.87% | 145 | 43.10% | — | — | — | — | Custom indicator approximated |
| GBPUSD | +3.28% | +2.84% | 4.19% | 145 | 47.90% | — | — | — | — | Custom indicator approximated |
| USDJPY | +5.50% | +4.76% | 3.29% | 274 | 52.40% | — | — | — | — | Custom indicator approximated |
| XAUUSD | -100.00% | -100.00% | 100.00% | 57 | 56.10% | — | — | — | — | Custom indicator approximated |
On every market this backtest is identical to EA-1204, EA-12594. The automatic conversion almost certainly lost what makes this EA different (a custom indicator, a filter or the money management), so these results are not ranked or counted.
Converted from MQL5 to Python and run with the same rules for every EA. Positions use MT5 lot sizes (100,000 units per FX lot, 100 oz per gold lot) with 1:100 leverage, one order at a time, and a stop-out below 10% of the starting balance. Sharpe is computed from the equity curve. Results marked as unreliable are shown for completeness only.
Blow-up risk: No blow-up pattern found
None of the usual blow-up patterns were found in the code, and the account was not stopped out in our backtests. That is not a guarantee: any EA can lose money.
High: stopped out in our backtest, or martingale/grid sizing without a stop loss. Elevated: martingale or grid sizing with a stop loss, or several positions at once without a stop loss. What the label means and what we found →
Strategy analysis
This EA trades based on the Bill Williams Wiseman-2 (BWWiseMan-2) signal, which is part of the Bill Williams Chaos Trading system. Entry conditions: a buy signal is triggered when the indicator's upper buffer (buffer 1) shows a non-zero and non-empty value on the specified signal bar, and a sell signal is triggered when the lower buffer (buffer 0) shows a non-zero and non-empty value. Exit conditions come in two forms: first, reverse-signal exits where a buy signal triggers sell position closing and vice versa; second, historical signal scanning exits where when both buy/sell open and close are enabled, the EA scans backward through historical bars to find earlier reverse signals to decide whether to close positions. Position sizing is controlled by the MM parameter and MMMode, supporting five modes: free margin-based, balance-based, loss-free-margin-based, loss-balance-based, or fixed lot size. Stop loss and take profit are set to 1000 and 2000 points respectively, which are wide stops suitable for larger timeframes like H4. The EA also uses the IsNewBar mechanism to ensure signals are calculated only once per bar, preventing duplicate trades.
Strengths
- Uses signals from the well-established Bill Williams trading system, providing theoretical basis
- Offers five position sizing modes with high flexibility
- Implements IsNewBar mechanism to prevent duplicate trades on the same bar
- Buy and sell open/close switches are independently controllable for flexible strategy configuration
- Includes stop loss and take profit settings for basic risk control
Weaknesses
- Historical signal scanning exit logic is flawed—closes position upon finding any single reverse signal in history, potentially causing premature exits
- Depends on external indicator wlxBWWiseMan-2 and TradeAlgorithms.mqh library; EA cannot run without these files
- No spread filter, trading session filter, or market volatility filter; may open positions under unfavorable conditions
- Stop loss of 1000 points and take profit of 2000 points are fixed values, not dynamically adjusted based on market volatility
- Missing position count check; may open duplicate positions in the same direction
Possible improvements
- Add position check logic to avoid opening duplicate positions in the same direction
- Add spread filter and market volatility-adaptive stop loss/take profit mechanism
- Optimize historical signal scanning exit logic to base decisions on the most recent valid reverse signal rather than any signal in history
Risk assessment
Overall risk: Medium
- Missing position count check may lead to duplicate same-direction positions increasing risk exposure
- Fixed stop loss/take profit does not account for market volatility; stops may be too narrow in high-volatility markets
- Historical signal scanning exit logic may prematurely close profitable positions
Evaluation scores
Parameters
| Parameter | Default | Description |
|---|---|---|
MM | 0.1 | Money management ratio parameter |
MMMode | LOT | Lot calculation mode (Free Margin/Balance/Net Margin Loss/Net Balance Loss/Fixed Lot) |
StopLoss_ | 1000 | Stop Loss in points |
TakeProfit_ | 2000 | Take Profit in points |
Deviation_ | 10 | Maximum allowed slippage |
BuyPosOpen | true | Allow buy position opening |
SellPosOpen | true | Allow sell position opening |
BuyPosClose | true | Allow buy position closing |
SellPosClose | true | Allow sell position closing |
InpInd_Timeframe | PERIOD_H4 | Indicator timeframe |
updown | 10 | Indicator up/down parameter |
SignalBar | 1 | Signal detection bar index |
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Backtests are historical simulations and do not guarantee future results. Not financial advice.