This MetaTrader 5 expert advisor implements a market regime filter inspired by Wyckoff principles, identifying phases like accumulation, distribution, markup, and markdown.
Wyckoff Price Action EA identifies trading ranges using a lookback period and triggers entries on confirmed breakouts with consecutive closes. Risk management is centralized around ATR-based dynamic stop losses and take-profit targets calculated as an R-multiple. The bot manages position sizing through a fixed percentage of account balance and includes filters for spread and volume climaxes. The developer notes that the logic is a heuristic approximation rather than a full Wyckoff schematic implementation.
Read from WyckoffPA_EA.mq5. Defaults are the author's; change them in the EA's Inputs tab.
Name
Type
Default
Description
InpRangeLookbackBars
int
50
bars to scan for range high/low
InpRangeMinATRMult
double
1.0
min range width in ATRs (avoid micro-noise ranges)
InpRangeMaxATRMult
double
3.0
max range width in ATRs to still call it "ranging"
InpTestTolerancePct
double
0.10
% of range width defining "near the boundary" for a test
InpBreakoutConfirmBars
int
2
consecutive closes beyond boundary to confirm breakout
InpVolClimaxMult
double
1.5
multiple of avg range volume to call a test "climactic"
InpATRPeriod
int
14
InpATRTimeframe
ENUM_TIMEFRAMES
PERIOD_CURRENT
InpRiskPercent
double
1.0
% of account balance risked per trade
InpATRStopMult
double
1.5
stop distance = ATR * this multiple
InpRMultipleTP
double
2.0
take-profit = R-multiple of stop distance
InpMaxSpreadPoints
int
50
reject entries if spread exceeds this
Show all 15 inputs
Name
Type
Default
Description
InpMaxOpenPositions
int
1
this-symbol position cap
InpMagicNumber
ulong
20260813
InpSlippagePoints
int
20
How to install it
1Download the sourceUse "Download source (.zip)" above, or clone P4rzi/MQ5-BOT from GitHub, and unzip it.
2Open the data folderIn MetaTrader choose File, then Open Data Folder, and go to MQL5/Experts.
3Copy the filesCopy the .mq5 file into Experts, and any .mqh files into the Include folder the code expects.
4Compile in MetaEditorOpen the file in MetaEditor and press Compile. Fix any missing includes the compiler reports.
5Test before you tradeRun it in the Strategy Tester, then attach it to a demo chart and allow algorithmic trading.
Third-party code. ForexR did not write, test or endorse this EA, and the summary above was generated automatically from its README and code. ForexR lists only repositories with readable source code and never hosts files. Read the code, backtest it and use a demo account first; automated trading can lose money quickly.
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