Trading WPR Histogram Color Changes at Overbought and Oversold Levels

Summary

This document describes an Expert Advisor that enters trades when the WPR_Histogram changes from neutral gray to red or blue at a bar’s close. The color transition indicates that the Williams Percent Range oscillator has moved into an overbought or oversold zone. It also notes that the advisor depends on a separately compiled indicator file and a trading library that supports brokers with nonzero spreads and setting protective orders when opening positions.

The document reports a test on GBPJPY using H4 data for 2015 and says the default advisor inputs were used. Stop loss and take profit were not used in that test. It refers to chart examples and a test-results chart, but supplies no numerical performance measures or detailed methodology. The brief description therefore explains the signal logic, but does not establish profitability or show how the strategy behaves across other markets, periods, or risk controls.

Key ideas

• The Expert Advisor generates a signal when the histogram moves from gray to red or blue at a bar close.
• The color transition marks entry into an overbought or oversold Williams Percent Range zone.
• The documented test used GBPJPY H4 data for 2015 and default input settings.
• Stop loss and take profit were not used in the reported test.

Tags

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