ExpWPRBB
This EA combines the Williams Percent Range (WPR) oscillator with Bollinger Bands to identify overbought and oversold reversal conditions. It enters long positions when WPR is oversold and price is near the lower Bollinger Band, and enters short positions when WPR is overbought and price is near the upper Bollinger Band. Exits are triggered by opposite signals or when price reaches the opposite Bollinger Band.
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 mean reversion principles, using the WPR oscillator to identify overbought/oversold market conditions combined with Bollinger Bands to confirm the degree of price deviation from the mean. Entry conditions require dual confirmation: long positions are opened when WPR enters oversold territory (below -80) and price touches or breaks below the lower Bollinger Band; short positions are opened when WPR enters overbought territory (above -20) and price touches or breaks above the upper Bollinger Band. Exit conditions include closing positions when price reverts to the Bollinger Band middle line or when an opposite signal appears. Position sizing may use fixed lots or a dynamic calculation based on account equity percentage. Money management aspects likely include configurable stop loss options, though the core logic relies on Bollinger Band statistical deviation as an implicit stop reference. The overall strategy performs better in ranging markets but may generate consecutive losing signals during strong trending conditions.
Strengths
- Dual indicator confirmation reduces false signals, WPR and Bollinger Bands complement each other to improve entry reliability
- Mean reversion strategy performs well in ranging markets with reasonable risk-reward ratios
- Highly configurable parameters allow Bollinger Band period and deviation multiplier to adapt to different market volatility environments
Weaknesses
- Mean reversion strategy is prone to consecutive losses in strong trending markets due to lack of trend filtering mechanism
- Default stop loss of 0 means relying on Bollinger Band mean reversion for exit, which can cause significant losses during extreme market moves
- Lack of new bar check mechanism may cause repeated entries on the same bar leading to over-trading
Possible improvements
- Add a trend filter (such as ADX or a long-period moving average) to pause trading or reverse strategy logic during trending markets
- Implement new bar check and position check mechanisms to prevent duplicate entries and over-trading
- Implement dynamic stop loss based on Bollinger Band width or ATR for adaptive stop levels
Risk assessment
Overall risk: Medium
- Default stop loss of 0 provides no hard stop protection in extreme one-way markets, potentially leading to large losses
- Lack of trend filtering creates continuous counter-trend entry risk when the market is trending
Evaluation scores
Parameters
| Parameter | Default | Description |
|---|---|---|
WPR_Period | 14 | Williams' Percent Range calculation period |
BB_Period | 20 | Bollinger Bands calculation period |
BB_Deviation | 2.0 | Bollinger Bands standard deviation multiplier |
WPR_UpperLevel | -20 | WPRoverbought threshold |
WPR_LowerLevel | -80 | WPRoversold threshold |
LotSize | 0.1 | Lot size for margin calculation |
StopLoss | 0 | Stop loss in points, 0 means no stop loss |
TakeProfit | 0 | Take profit per order (points) |
MagicNumber | 123456 | EA magic number for identifying this EA's orders |
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Backtests are historical simulations and do not guarantee future results. Not financial advice.