Hey fellow traders! If you're looking to boost your trading game, let me introduce you to a nifty trading system using the WPR Histogram indicator. The beauty of this EA lies in its simplicity: it generates a trade signal at the close of a bar whenever the histogram shifts from a neutral gray to either red or blue. This indicates that the WPR oscillator has entered the overbought or oversold territory, giving you a solid cue for entry or exit.
To get started, you’ll need the compiled indicator file, WPR_Histogram.ex5. Simply save it to your <terminal_data_folder>\MQL5\Indicators directory, and you’re good to go!
One crucial tip: the TradeAlgorithms.mqh library file is essential for using Expert Advisors with brokers that offer a nonzero spread. This library also allows you to set your Stop Loss and Take Profit levels right when you open a position. If you’re interested in more variations of the library, check it out here: Trade Algorithms.
For the tests below, we used the default input parameters of the Expert Advisor. Just a heads up—Stop Loss and Take Profit weren’t utilized in these tests.
Fig. 1. Examples of trades on the chart
Now, let’s delve into the testing results for the year 2015 on the GBPJPY H4 pair:
Fig. 2. Chart of testing results
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