A Williams Percent Range Forex EA with Reversal Entries and Trailing Stops

Summary

This expert advisor uses the Williams Percent Range indicator for contrarian entries: it sells when the indicator is overbought and buys when it is oversold. It was designed for EUR/USD on the one-minute timeframe, with a five-digit price feed, though the description says it can be adapted to other markets. A trailing stop has configurable activation timing and step size, and an optional timer can limit the EA’s operating hours using the terminal’s clock.

Positions are closed by the trailing stop or, if still open, when an opposite trade is triggered. The author reports favorable demo-account results but did not retain the statement, and the EA was not tested in a backtester. This leaves its performance unverified; the description supplies no systematic results or detailed entry thresholds. It also notes that part of the code came from another EA, so the outline is not a complete account of the strategy’s implementation.

Key ideas

• The EA buys in Williams Percent Range oversold conditions and sells in overbought conditions.
• It was designed for EUR/USD on a one-minute chart and may be adapted to other instruments.
• An optional trading-hours timer and configurable trailing stop are included.
• Open trades may also close when an opposite trade occurs.
• Reported demo results were not documented, and no backtest was performed.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.