Exp_ColorMETRO_WPR
This EA uses the ColorMETRO_WPR custom indicator, which combines Williams' Percent Range (WPR) with a step-based metro signal, to generate buy and sell entries. It detects crossover signals between the indicator's two buffers (MPlus and MMinus) to open and close positions. Trade execution is delegated to the TradeAlgorithms library for position sizing and order management.
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 strategy concept is based on the crossover signals of the ColorMETRO_WPR indicator's two buffer lines (MPlus and MMinus), which integrate Williams' Percent Range with a dual-step-size metro filtering mechanism using fast (StepSizeFast=5) and slow (StepSizeSlow=15) step sizes. Entry conditions: a buy signal triggers when MPlus crosses above MMinus (confirmed by prior bar direction and current bar crossover), and a sell signal triggers when MPlus crosses below MMinus under the same confirmation logic. Exit conditions include closing on opposite signals (controllable via BuyPosClose/SellPosClose booleans) and fixed stop-loss (1000 points) and take-profit (2000 points) levels. Position sizing supports five money management modes via the MM parameter and MMMode enum: free margin percentage, balance percentage, net free margin percentage, net balance percentage, and fixed lot size, with the default set to fixed lot (0.1). The EA delegates order execution to the TradeAlgorithms library which handles slippage control (Deviation_=10 points) and signal timestamp filtering (UpSignalTime/DnSignalTime). The overall strategy logic is clear and systematic, but lacks advanced features such as partial close, scale-in, or trailing stop functionality.
Strengths
- Clear strategy logic based on indicator crossover signals, easy to understand and verify
- Supports five position sizing modes, offering flexible money management options
- Buy/sell open and close can be independently toggled, providing granular trade control
- Uses new bar detection (IsNewBar) to prevent repeated entries within the same bar, reducing overtrading
- Complete stop-loss and take-profit parameters with a default 2:1 reward-to-risk ratio, favoring positive expectancy
Weaknesses
- Depends on external custom indicator ColorMETRO_WPR and TradeAlgorithms library, lacking independence and portability
- No trailing stop functionality; fixed take-profit may limit profit potential in strong trending moves
- No spread filter or trading session filter, potentially leading to unfavorable fills during high-spread or low-liquidity periods
- Stop-loss of 1000 points and take-profit of 2000 points are excessively large for most instruments without instrument-specific adaptation
- Signal logic relies solely on single indicator crossover without multi-confirmation or filtering mechanisms, potentially generating many false signals
Possible improvements
- Add trailing stop functionality to lock in floating profits during trending moves and avoid premature exits from fixed take-profit
- Add spread filter and trading session restrictions to prevent entries during low liquidity or excessive spread conditions
- Implement multi-timeframe confirmation, e.g., higher timeframe trend direction filter, to reduce false signals on lower timeframes
- Use ATR-based dynamic stop-loss and take-profit calculation instead of fixed point values, improving instrument adaptability
Risk assessment
Overall risk: Medium
- No spread filter; unfavorable fills and slippage losses may occur when spreads widen
- Fixed stop-loss/take-profit points are not adapted to instrument volatility, potentially too wide or too narrow for certain instruments
- Dependency on external library and indicator; if these are missing or updated, the EA may fail to function properly
Evaluation scores
Parameters
| Parameter | Default | Description |
|---|---|---|
MM | 0.1 | Money management ratio parameter |
MMMode | LOT | Lot calculation mode |
StopLoss_ | 1000 | Stop loss in points |
TakeProfit_ | 2000 | Take profit in points |
Deviation_ | 10 | Max allowed slippage |
BuyPosOpen | true | Enable long entry |
SellPosOpen | true | Enable short entry |
BuyPosClose | true | Allow closing long positions (on reverse signal) |
SellPosClose | true | Allow closing short positions (on reverse signal) |
InpInd_Timeframe | PERIOD_H8 | Indicator calculation timeframe |
PeriodWPR | 7 | WPR indicator period |
StepSizeFast | 5 | Fast step size parameter |
StepSizeSlow | 15 | Slow step size parameter |
SignalBar | 1 | Signal confirmation bar index (0 = current bar) |
Similar Momentum EAs
Backtests are historical simulations and do not guarantee future results. Not financial advice.