Hey fellow traders! Today, I want to introduce you to a game-changer in the trading world: the Exp_i-SpectrAnalysis_WPR Expert Advisor. This tool is built on the innovative i-SpectrAnalysis_WPR indicator, which signals potential market reversals based on changes in the indicator line's color when a bar closes.
To get started, you’ll need to have the compiled indicator file i-SpectrAnalysis_WPR.ex5 ready to go. Just drop it into your <terminal_data_folder>\MQL5\Indicators directory, and you’re all set!
One important thing to keep in mind is that the averaging algorithm in the i-SpectrAnalysis_WPR can cause the indicator to redraw on all bars. This means that after a while, it can be tough to gauge what the indicator looked like at the moment a trade was executed.
Also, the TradeAlgorithms.mqh library is a fantastic addition, allowing you to use Expert Advisors with brokers that offer nonzero spreads. Plus, it gives you the option to set your Stop Loss and Take Profit levels right when you open a position. If you’re looking for more tools, check out additional variants of the library here: Trade Algorithms.
For the tests I ran, I used the default input parameters for the Expert Advisor, and I opted not to use Stop Loss or Take Profit. Let’s take a look at the results:
Fig.1. The instances of history of deals on the chart.
Here are the testing results for 2015 on the AUDUSD H4 pair:
Fig.2. Testing results chart
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