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Using Williams Percent Range to Trigger a Trailing Stop

Article MQL5 code base
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Summary

The module describes a trailing-stop method with two stop levels. A long stop behaves like a conventional fixed trailing stop, while a short stop becomes active when the Williams Percent Range (WPR) indicator exits its configured overbought or oversold zone. The zone boundaries are set around the indicator’s midpoint, and the user configures the WPR timeframe, calculation period, zone width, and stop distances.

An example shows the short stop activating after WPR leaves the oversold region during a short EUR/USD position, with the stop intended to close the position. The excerpt explains the settings and trigger logic, but supplies no performance tests or comparison with other stop rules. It is a description of a software module, so the effectiveness of the approach and its sensitivity to parameter choices remain unestablished here.

Key ideas

  • The method combines a long trailing stop with a WPR-triggered short stop.
  • The short stop activates when WPR exits a configured overbought or oversold zone.
  • Users set the indicator timeframe, period, zone width, and stop distances.
  • The example illustrates a short EUR/USD position, but the document provides no performance evaluation.

Tags

ForexTechnical indicatorsRisk management

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