EXP Fractal WPR Expert Advisor
Info
The EXP Fractal WPR Expert Advisor is a Expert Advisor for MetaTrader 5 that this expert advisor (ea) utilizes a simple logic based on an oscillator. It sells when the oscillator crosses below the overbought level during a downward movement, and buys when the oscillator crosses above the oversold level during an upward movement.
Usage
This tool is typically used for automated trading on major forex pairs and gold.
Platform
This Expert Advisor works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Experts folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use EXP Fractal WPR Expert Advisor
1. Installation: Open the "File" menu, select "Open Data Folder," navigate to MQL/Experts, paste your file, and restart the terminal.
2. Activation: Drag the EA from the Navigator onto a chart, ensure "Allow live trading" is checked in the Common tab, and verify the AutoTrading button is green.
3. Optimization: Right-click your chart, choose "Expert List," click "Properties" to adjust inputs, and save your preferred setup as a set file for future use.
4. Maintenance: Regularly check the "Experts" tab in the terminal window to monitor trade logs and potential execution errors.
Frequently Asked Questions
Q: Why is my EA not opening trades? A: Check the "AutoTrading" button, ensure "Allow live trading" is enabled, and verify your broker allows automated trading on your account type.
Q: Can I run multiple EAs on one chart? A: No, each chart can only host one active EA; however, you can open multiple charts for different currency pairs to run several EAs.
Q: What does the "smiley face" icon mean? A: A smiley face in the top-right corner of the chart indicates the EA is successfully running; a frowny face means it is disabled.
What this tool does
This Expert Advisor (EA) utilizes a simple logic based on an oscillator.
Typical Use Case
This Expert Advisor excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Expert Advisor works on MetaTrader 5. Place the file in the MQL5/Experts folder and restart the terminal.
Description & Settings
Related: VPS Toolkit: Secure Order Sending and Restart-Safe State for Expert Advisors - another powerful expert for MetaTrader 5 traders.
This Expert Advisor (EA) utilizes a simple logic based on an oscillator.Also recommended: Automated Live Testing for Expert Advisors on Demo Accounts - similar expert with strong performance on MetaTrader 5.
It sells when the oscillator crosses below the overbought level during a downward movement, and buys when the oscillator crosses above the oversold level during an upward movement.
A signal is confirmed when a bar closes after the oscillator has crossed the specified level.
Indicator Integration:
The fractal_wpr.ex5 indicator is compiled directly into the EA executable file. This means you do not need to manually place the fractal_wpr.ex5 indicator file in your \mql5\indicators folder for the EA to function. The indicator's code has been embedded as a resource within the EA itself.
Resource Handling:
//---- include the indicators in the ea code as resources
#resource \indicators\fractal_wpr.ex5
The EA's initialization function (OnInit()) has been updated to reference the indicator using its resource path, ensuring it can operate independently on other MetaTrader terminals.
Broker Compatibility:
The included tradealgorithms.mqh library enables the use of this EA with brokers that have a non-zero spread and allow setting Stop Loss and Take Profit orders simultaneously with position opening.
Testing Parameters:
The default EA input parameters were used for the following test results. Stop Loss and Take Profit were not utilized during these tests.
Figure 1. Examples of Deals on the Chart
Testing Results for 2015 on AUDUSD H3:
Figure 2. Chart of Testing Results
Testing Results for 2026 on AUDUSD H3:
You may also like: Programmatically Attach Expert Advisors with Custom Inputs to MetaTrader 5 Charts - excellent alternative for expert users on MetaTrader 5.
Source Code
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⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.