If you're looking to up your trading game, the Exp_ColorSchaffJJRSXTrendCycle EA is a powerful tool worth considering. This Expert Advisor utilizes the ColorSchaffJJRSXTrendCycle oscillator to identify significant shifts in market momentum, specifically focusing on overbought and oversold conditions. You'll get a trading signal when a bar closes after breaking through the zero level, which can help you make timely decisions.
To get started, simply drop the JJRSX.ex5 and ColorSchaffJJRSXTrendCycle.ex5 files into your <terminal_data_folder>\MQL5\Indicators directory.
One noteworthy feature is the TradeAlgorithms.mqh library. This handy addition allows your Expert Advisors to work seamlessly with brokers that offer a nonzero spread. Plus, you can set your Stop Loss and Take Profit right when you open a position. If you're interested, you can explore more variants of this library by clicking here: Trade Algorithms.
The default input parameters of this EA have been utilized in the tests shown below. Just a heads up, neither Stop Loss nor Take Profit were employed during these tests.
Fig.1. Examples of deals on the chart
Here are the testing results for 2014 on the GBPJPY H4:
Fig.2. Testing results chart
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