BullsBearsEyes EA
This EA trades based on the Bulls Power and Bears Power indicators developed by Alexander Elder, generating buy signals when bulls power is positive and rising and sell signals when bears power is negative and falling. It applies Elder's Triple Screen methodology principles by combining trend direction with momentum oscillator signals for entry decisions, with configurable stop loss and take profit levels for each trade.
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 | -11.02% | -9.65% | 12.32% | 144 | 40.60% | -2.25 | -0.89 | 13 | −$7.94 | Reliable |
| GBPUSD | -9.35% | -8.17% | 14.86% | 144 | 41.30% | -1.59 | -0.63 | 8 | −$6.70 | Reliable |
| USDJPY | -1.89% | -1.65% | 6.23% | 144 | 52.40% | -0.36 | -0.30 | 6 | −$1.43 | Reliable |
| XAUUSD | -100.00% | -100.00% | 100.00% | 37 | 51.40% | -1.50 | -1.00 | 4 | −$298.33 | Account stopped out |
Profitable on 0 of 4 markets with reliable results.
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.
Against the other Momentum EAs with a reliable result on the same market: EURUSD: better than 0% of 68 · GBPUSD: better than 11% of 66 · USDJPY: better than 40% of 68 · XAUUSD: better than 0% of 75
Month by month
| Market | Months with a gain | Best month | Worst month |
|---|---|---|---|
| EURUSD | 31% | +0.84% 2026-08 | -5.93% 2026-04 |
| GBPUSD | 38% | +3.53% 2026-01 | -3.93% 2026-04 |
| USDJPY | 62% | +1.08% 2026-01 | -3.19% 2026-08 |
| XAUUSD | 25% | +3.01% 2025-11 | -100.00% 2026-02 |
From the backtest equity curve, sampled about every two days; only reliable results.
Blow-up risk: High
- Hit a stop-out in our backtest (equity below 10%) on XAUUSD
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
The core strategy is based on Elder's Bulls Power and Bears Power indicator system, classifying it as a momentum-type strategy. For entry conditions, a long signal requires the Bulls Power indicator value to be positive and the current value greater than the previous bar's value, indicating strengthening bullish momentum; a short signal requires the Bears Power indicator value to be negative and the current value's absolute magnitude greater than the previous bar's, indicating increasing bearish pressure. Exit conditions are implemented through fixed-pip stop loss and take profit levels, with some versions potentially including a trailing stop feature. Position sizing uses either fixed lot sizes or dynamic lot calculation based on account equity percentage. For money management, the EA provides a risk percentage parameter to control the exposure per trade, but overall lacks protection mechanisms for maximum drawdown and consecutive losses. The strategy assumes that when one side's market pressure continues to strengthen, the trend will persist, representing a typical momentum-following logic.
Strengths
- Based on Elder's classic theory, the strategy logic has solid theoretical foundation
- Bulls and Bears Power indicators effectively measure dynamic changes in market buying/selling pressure
- High configurability with adjustable stop loss, take profit, and position sizing parameters
- Considers both trend direction and momentum strength, providing some entry signal filtering
- Simple and clear signal generation rules, easy to understand and backtest
Weaknesses
- Single indicator signals are prone to frequent false breakouts and fake signals
- Lacks multi-timeframe confirmation, may trade against the larger trend
- No spread filter included, vulnerable to losses in high-spread environments
- Fixed stop loss/take profit ratio without dynamic adjustment for market volatility
- Lacks protection mechanisms for consecutive losses and maximum drawdown
- Bulls and Bears Power indicators perform poorly in ranging markets, causing repetitive open/close cycles
Possible improvements
- Add multi-timeframe trend filtering, e.g., only enter on H1 after H4 trend direction confirmation
- Implement ATR-based dynamic stop loss/take profit that adjusts exit levels based on market volatility
- Add spread filter and trading session filter to avoid unfavorable trading conditions
- Add maximum drawdown limit and consecutive loss count limit as risk management circuit breakers
Risk assessment
Overall risk: Medium
- Lack of multi-timeframe confirmation may lead to counter-trend trading
- Fixed stop loss doesn't account for market volatility changes - too wide in low volatility, too tight in high volatility
- No maximum drawdown or consecutive loss protection mechanism
- Oscillating indicators in ranging markets may cause frequent trading and commission drain
Evaluation scores
Parameters
| Parameter | Default | Description |
|---|---|---|
InpLotSize | 0.1 | Fixed trading lot size |
InpStopLoss | 500 | Stop loss in points |
InpTakeProfit | 1000 | Take profit in points |
InpBullsPeriod | 13 | Bulls Power indicator period (EMA) |
InpBearsPeriod | 13 | Bears Power indicator period (EMA) |
InpTrailingStop | 0 | trailing stoppoints (0=disable) |
InpRiskPercent | 2.0 | Risk percentage per trade |
InpMagicNumber | 123456 | EA magic number |
InpTimeframe | H1 | Trading timeframe |
Similar Momentum EAs
Backtests are historical simulations and do not guarantee future results. Not financial advice.