Exp_ColorSchaffWPRTrendCycle
This EA trades based on the ColorSchaffWPRTrendCycle custom indicator, which applies a Schaff trend cycle to Williams' Percent Range (WPR) with fast and slow periods. It opens buy positions when the indicator transitions from a bullish color zone and sell positions when it transitions from a bearish color zone, with configurable signal bar and threshold levels for entry and exit.
Open the interactive view (equity curve, symbol switch)Key facts
Backtest results (H1, about 1 year)
Not backtested yet — this EA could not be converted automatically.
Strategy analysis
The core strategy uses the Schaff Trend Cycle applied to Williams' Percent Range (WPR) with dual smoothing across fast and slow periods to identify momentum direction shifts. For entry conditions, a buy signal triggers when buffer 1 value exceeds 5 (bullish zone) and buffer 0 value is below 6, while a sell signal triggers when buffer 1 value is below 2 (bearish zone) and buffer 0 value exceeds 1. For exit conditions, a bullish signal simultaneously closes sell positions and a bearish signal closes buy positions, implementing a signal-reversal exit mechanism. Position sizing supports five margin modes including free margin percentage, balance percentage, loss-adjusted free margin, loss-adjusted balance, and fixed lot size. Money management uses the MM parameter to control risk ratio (default 0.1) combined with fixed stop loss of 1000 points and take profit of 2000 points to control per-trade risk. The strategy employs an IsNewBar mechanism to ensure signals are calculated only once per bar to prevent duplicate entries, but lacks additional trend filters to avoid frequent trading in choppy markets.
Strengths
- The Schaff Trend Cycle smoothing of WPR effectively reduces false signals and whipsaws
- Five position sizing modes provide flexibility for different risk appetites and account sizes
- New bar detection mechanism prevents duplicate entries within the same bar, reducing overtrading
- Independent buy/sell enable switches allow flexible configuration for directional or bi-directional trading
- Configurable stop loss and take profit with a 2:1 reward-to-risk ratio supports positive expectancy
Weaknesses
- Lacks a trend filter, prone to frequent false signals and consecutive losses in choppy markets
- Stop loss of 1000 points and take profit of 2000 points are relatively large for H4 timeframe, potentially causing significant drawdowns
- No spread filter mechanism, resulting in high entry costs in high-spread environments
- Depends on a custom indicator file; if missing, the EA fails to run with garbled error messages
- Signal logic relies on hardcoded color buffer thresholds (5,6,1,2) with no self-adaptive adjustment capability
Possible improvements
- Add a trend filter (e.g., moving average direction or ATR volatility filter) to avoid frequent trading in choppy markets
- Add spread filtering and maximum position checks to enhance trading safety and improve money management robustness
Risk assessment
Overall risk: Medium
- No spread filter may cause loss-making entries in high-spread environments
- Large stop loss and take profit point values may result in significant per-trade losses
- Position sizing depends on external TradeAlgorithms.mqh library with unknown internal safety implementation
Evaluation scores
Parameters
| Parameter | Default | Description |
|---|---|---|
MM | 0.1 | Lot size or money management ratio |
MMMode | LOT | Position sizing mode (margin/balance/fixed lot, etc.) |
StopLoss_ | 1000 | Stop loss in points |
TakeProfit_ | 2000 | Take profit in points |
Deviation_ | 10 | Maximum allowed slippage |
BuyPosOpen | true | Allow opening buy positions |
SellPosOpen | true | Allow opening sell positions |
BuyPosClose | true | Allow closing long positions |
SellPosClose | true | Allow closing short positions |
InpInd_Timeframe | PERIOD_H4 | Indicator calculation timeframe |
Fast_WPR | 23 | Fast WPR period |
Slow_WPR | 50 | Slow WPR period |
Cycle | 10 | Schaff trend cycle period |
HighLevel | +60 | Overbought threshold level |
LowLevel | -60 | Oversold threshold level |
SignalBar | 1 | Bar index for signal calculation |
Similar Momentum EAs
Backtests are historical simulations and do not guarantee future results. Not financial advice.