Trading Signals from Schaff-Williams %R Trend Cycle Level Breaks

Summary

This MetaTrader 5 expert advisor uses the ColorSchaffWPRTrendCycle oscillator to generate trades when its value crosses an overbought or oversold level. The signal is evaluated when a bar closes, so the described trigger depends on a completed candle rather than an intrabar move. Running the advisor requires the compiled indicator to be installed in the platform’s Indicators folder, along with the relevant trading algorithm library for supported order and risk settings.

The cited test used default advisor inputs on GBPJPY four-hour data for 2014. Stop loss and take profit were omitted in those tests. The document mentions chart examples and a results chart but gives no numerical performance statistics or benchmark, so it does not establish profitability or robustness. Results may differ across markets, timeframes, execution conditions, and risk settings.

Key ideas

• The advisor trades oscillator breaks through overbought or oversold levels.
• Signals are formed at bar close after a level crossing.
• The described test used GBPJPY four-hour data for 2014 with default inputs.
• Stop loss and take profit were not used in the reported tests.
• The document gives no numerical performance measures to assess robustness.

Tags

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